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fadihakeem
Aug 6, 2021 6:55 PM

GBPJPY  Long

GBP/JPYOANDA

Description

Inverse H&S and respecting fibonacci levels. Broke out of bullish flag. Lots of confluence
Comments
zico12
Looks solid, however could we possibly have a bigger correction of the bull flag then have the impulse move to the upside. Essentially from where current price is I expect to see price drop back to 151.588 (strong support) then I think buying is more favorable.
fadihakeem
@zico12, Very possible. It broke the trend, gave us a retest and now broke the newest resistance which is why I would've looked for an entry if it was midweek. Given that it's the weekend and the market usually makes retracements after opening it's very possible for it to reach your projected levels, which aligns with significant fib levels. Great analysis
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