GBPJPY 60min Bearish TCT

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY             is in a downtrend. I'm looking to sell Rallies on this pair.

Price has made it back to my "Reversal Zone" and now has Double Topped with Bearish RSI Divergence. We also have a an ABCD pattern completing right at the Double Top .

I just sold at the Double Top and looking for a retest of Previous Lows.

Stops - 1 ATR above Double Top

Target #1 - Retest of Previous Lows (Structure)

Target #2 - Retest of Previous Lows (Structure)
Comment: Target #1 Acquired
Comment: Holding for Target #2 with stops @ Breakeven
Comment: Stops rolled to 164.430. Trailing Stops 1 ATR above the last swing high on the 1hr. Protect those profits!
Trade closed: target reached
BEAUTIFUL, that's the only way to describe this.
PateSkpate StarProsper
haha! Thanks buddy! It's always nice when a plan comes together
How did you choose A, B and C for AB=CD pattern?
PateSkpate FXPartisan
ABCD Pattern is basically 2 equal moves and 1 pullback (at least a 38.2% retracement). Always start from either the low or high point. So in this case you go from swing low to swing high, then you get the retracement, then we get the equal move up. It's hard to describe typing.. It's much easier for me to explain while showing on a chart. Hope that helps :)
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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