TheSupportResistanceTrader
Long

Longing GBPJPY due to clones and trendline

FX:GBPJPY   British Pound / Japanese Yen
Making my first try at clones. Both the 100% extension (yellow box) and the 0.5 retracement of the two moves (orange box) coincide at approximately the same price, meaning this is where we will go long (blue box). Hopefully the trendline will hold and take us to the skies. Our entry will be a pinbar/inside bar/doji at the trendline . Our stoploss go a couple of pips below this entry candle (~183.6) and the take profit will be close to the top of the second wave (~184.5)

Meaning of boxes:
First green box: Price difference between start and first top.
Second green box: Price difference between second bounce of trendline and the second top.
First orange box=Second orange box
First yellow box: 0.51 of first green box
Second yellow box: 0.51 of second green box

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