Trader_97
Short

HEAD & SHOULDERS FORMATION ON POUND/YEN.SELL ON RETRACEMENT

FX:GBPJPY   British Pound / Japanese Yen
26 0 0
Looks promising doesn't it ? So basically the idea here is to go short once the price moves back up a 500 pips or so as a result of retracement and retest of the Support turned Resistance zone around that 178.40 - 180.24 area and then wait and watch , In long term it can fall as low as 162 in my opinion.That's about 1800 pips if we get to sell from the 180 mark.Stops can be placed around that 188.30 area for a long term short position on the pair.Let me know what you guys think of this in the comments below :)
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