TradingView
Biglotz
May 14, 2014 12:00 PM

GBPJPY 60 Bullish Butterfly, Pitchfork hit, 3 drives to Support Long

British Pound/Japanese YenFXCM

Description

Low risk counter trade imho. Stops 10-15pips below spike bar low.
Comments
wael
Agree , and bulls here we go to 171.5 :)
Biglotz
At the time of posting, might be a little late getting in as we've moved 22 pips or so from bottom. Looks like accumulation on M5 (diverging MacD) however. Right now, 1.5:1 Reward:Risk with that 15 pip stop below low to 38% retrace target of 171.500. NB, 38 retrace lines up with 50% from prior high swing. This is a counter scalp with potential for more.
More