FX:GBPJPY British Pound/Japanese Yen
When the market opens today, (as long as the Gbp/Jpy doesn't have an extreme gap) you have a pattern on the Gbp/Jpy that now has a phenomenal Risk to Reward. As you can see on the chart using a 1 ATR stop loss below "X" if you entered at the completion of the pattern at the .786 you would have a 1:1 R/R for target 1 and a 1.5:1 R/R for target 2 as illustrated by the red and green boxes. But if you enter now at market using the same 1 ATR stop below "X" you will have almost a 2.5:1 R/R to target 1 and a 3.5:1 R/R to target 2 as illustrated by the blue and red boxes. So if you trade the and this fits into your risk tolerance, then this is a very good setup to consider.