🐻📉 GBPJPY Alert! Head and Shoulders Pattern(ultra bearish)📉🐻
🚨 Brace yourselves for a trend reversal! The GBPJPY forex pair is showing a compelling bearish setup with the formation of a head and shoulders pattern. This classic yet highly reliable pattern has a proven track record of success.
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 180, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPJPY! 📉💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🚀
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 180, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPJPY! 📉💪
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🚀
Trade active
Comment:
stop loss above of the moving average 21
Comment:
instantly dropped 70 pips, take some profit and let the rest run
we're halfway from the target
we're halfway from the target
Comment:
observe the power of simplicity in trading. don't be fooled into thinking its an impossible task
just use a strategy, set a stop loss and a take profit level. then trade. this is how simple it is
just use a strategy, set a stop loss and a take profit level. then trade. this is how simple it is
Trade closed manually:
closed the rest because it reached my break even
Trade closed: target reached
Comment:
