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glitchTA

Short - Double Top

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
glitchTA Updated   
OANDA:GBPJPY   British Pound / Japanese Yen
3
0
Looks like we have a short oppurtinity with a double top on the 4 hour chart. Stoch RSI on the 2nd top is showing momentum heading to the downside.

I have two positions with targets of 43 and 108 pips. Both have a stop loss of 25 pips.
Comment:
Looks like this will go to a bearish bat pattern. I still expect price to drop to .382 and possibly .618 retracement so my two positions targets have been adjusted accordingly. Stops have been placed above top part of the bearish bat pattern. I still have a better than 1:1 RR ratio in play

snapshot
Comment:
Target 1 reached! Stops rolled about 10 pips before position
Trade closed: target reached:
Second target reached!

Position 1 Pips Profit: 80 Pips
Position 2 Pips Profit: 123 Pips
Comment:
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