Xin

Rectangle / Double Top Play

FX:GBPJPY   British Pound / Japanese Yen
68 1 0
In this trade we can play it a few ways. Break the Rectangle and aim for the rect height as take profit levels (break up/break down) alternatively if US budget/debt issue worsens YEN is the RISK OFF trade then perceive this as a double top .

Breakout:
In either case look for a clear break of the rectangle before making the breakout trade.

Playing the bounds:
If playing inside the rectangle use fib levels as targets & trade with the short term bias.

Risk ON Switch:

*There is the risk of US debt/budget resolution that would RISK ON (weak Yen).
Took profit on the break lower closed at 158.8 (resistance line from 13th).
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out