Prabhu.Ram
Short

More reasons to believe in our short position target at 182.90

FX:GBPJPY   British Pound/Japanese Yen
150 0 0
Hello traders,
This is an update to the short trade we had taken up on this pair from the breakout of the break on the lower side.
We had fixed on the target for the wedge pattern at 182.90. After yesterday's price action which saw the pair retest the upper borders, it has formed a reliable ABCD pattern as shown in the chart.
Most interestingly for us, the 100% ABCD Fib target lies precisely at the wedge pattern target.
It acts as a confirmation of the target for us. Normally when a target is exphasised further with another pattern, it attaches strength to the intended move.
Just in case you still dont hold a short position, you could still jump in.
For further details of this trade, please refer to the previous posts on this trade that i have attached below.
SELL @ 186.00, S/L 187.70
T/P @ 182.90.
And those who have entered this trade at the breakout, I would suggest that we should move our Stop loss to breakeven.
Happy trading and happy pippin!
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