GBPJPY Potential Sell Setup About To Complete

FX:GBPJPY   British Pound / Japanese Yen
1562 9 77
Price in GBPJPY             looks like is breaknig below the triangle pattern it was moving in and it signals for a nice move to the down. Fist we shold wait for the breakout (not reverse) and then we should wait for a corection below the broken level.
If a setup completes i will update this post...

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Comment: Price has retraced to the broken uptrend trendline where it was rejected. Although we may have another small wave up, with stoploss above previous high we are safe to go short.
Comment: As a profit target we aim for the median line of the pitchfork. If price reaches the upper quartile we move stoploss at breakeven
Comment: This setup is working great with already more than 250 pips in profit. but i believe there is more to come. No greed but i expect price to reach the median line. We might have a correction soon and then another impulsive wave to the down. To be safe you may move stoploss to BE or trail to secure a good amount of profit.
Smart analysis as usual.

I regard you as amongst the top few elite on this website.
And we are on road ... thanks for you awesome charts !
You are welcome.. Thank you for your support
Dguaman Fxprotrader
Keep holding? or trade change :D

Thank you so so so so much for always giving us nice setups free of cost guidence and help hope God will reward you with something bigger then expected :)))) please keep you all charts update with Entry,TP,Stop loss we are always following you may u have happy and nice trades
Thank you for your kind words..!
uzair18 Fxprotrader
What will you suggest about GBYJPy !! I am in according to your entry
Trade is active, no updates for now..
Personally I wouldn't combine a support trend line of only the end of the bullish structure with the structure after the high. My rectangles show the two different structures we see at the moment. Nevertheless I'm also looking for consolidation and then sell. Or reversal, let it consolidate and buy.
Good trading to you and have a nice weekend!

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