GBPJPY appears to be making a BARR reversal pattern. This is a pattern from Thomas Bulkowski...
We are right off the 61.8 fib from the down move. We have printed an outside reversal bar. Tomorrow is NFP so expect some type of upthrust before we come down. If I'm correct about this pattern, these like to fall hard and fast!
We are right off the 61.8 fib from the down move. We have printed an outside reversal bar. Tomorrow is NFP so expect some type of upthrust before we come down. If I'm correct about this pattern, these like to fall hard and fast!
Trade active:
We are at the trendline so this is a great place to take partial profit and tighten the SL some.
Trade closed manually:
With the reversal print at the lead in trendline, this is a great time to exit the full position.