Here on the 30m chart of GBP/JPY we do have deep setup.
The D leg completes at X which are the highs of 2008, giving it a strong reversal area.
This pattern can also be seen on the hr chart which is usually the time frame i trade, however on this occasion it is more visible on the 30m chart.
We must see a completion at D leg ( 195.80 ) before any short entry is triggered.
- SL must go above X
- Target 1 at
- Target 2 at
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