GBPJPY Buy Opportunity

FX:GBPJPY   British Pound / Japanese Yen
508 7
Price has formed a head & shoulders pattern and it looks like is breaking above a descending channel it moved in. A breakout above the upper trendline of the channel will signal a buy setup. Reaching the neckline of the pattern will be our first profit target for about 650 pips trade.
I agree!
It can go even higher with some luck (my target is potentially 166.441).
I'm in from last night using the 1h/4h chart after seeing oil gap up, and the Nikkei break a weekly resistance.
Should be fairly safe (see my Nikkei post).
Fxprotrader IvanLabrie
Beautiful..! I agree on your targets.. I am happy with this one because i had a very tight stoploss so if price reaches these levels will be a tremendous setup.. Let's see how thing will go.. I will definately see your Nikkei post..
IvanLabrie Fxprotrader
Same :D
Was a lucky catch, was looking at oil and the yen's reaction to the news on Friday and during the weekend. A friend was long already but I wasn't convinced before.
See you at the top, cheers.
+1 Reply
mabaert IvanLabrie
Anyone still in this setup?
I have changed my mind for now, or consider it risky. I closed longs in profit a few days ago.
mabaert IvanLabrie
nice. Seems I left it open for too long. Should close it down tonight.
You can close and reenter when safe, or close partially.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out