chris333
Long

Teacup Saucer Bottom Near Term Buy

FX:GBPJPY   British Pound/Japanese Yen
2 months ago
The saucer bottom has been, in my experience, a very reliable bullish chart pattern. We want to continue to use appropriate trend following entry strategies of buying on strength. Therefore, you will want to go long on a breakout of recent highs. You'll want to leave plenty of room on your stop loss given the fast and volatile nature of this cross product. Look to trail stops once in.

For a longer term trade and a spot of tea, you may also want to check out the daily chart that shows a well formed teacup with handle.
2 months ago
Comment: go here for daily cup and handle:
Cup & Handle Bullish Medium Term

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KetogenicElijah
2 months ago
all this talk of teacups, are we talking pigs? or just pips?
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chris333 KetogenicElijah
2 months ago
pips of course; but we always want to be careful not to become pigs in the slaughter or gluttonous pigs in profits
Reply
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