GBPJPY - Bearish Butterfly Completion
GBPJPY has completed a bearish butterfly pattern.
The key level is the XA 127.2 extension.
SL will need to go above XA141.4, probably 20 pips above this level.
The 2 targets are 38.2 and 61.8 of XD.
EP: Around market price
SL: 150.4
TP1:146
TP2:143.75
The key level is the XA 127.2 extension.
SL will need to go above XA141.4, probably 20 pips above this level.
The 2 targets are 38.2 and 61.8 of XD.
EP: Around market price
SL: 150.4
TP1:146
TP2:143.75
Comment:
big patterns require big stops.
got in a 2nd batch at 148.85.
Preparing to ride it out to 146 at the minimum.
got in a 2nd batch at 148.85.
Preparing to ride it out to 146 at the minimum.
Entered short at 148.15.
As long as this trendline is not broken, your short will be safe.
Aiming for 146.