We have a Bearish Shark Pattern that is forming on the GBPJPY. The great part about this setup is the 0.886 XA retracement matches perfectly with previous structure (dashed red line). We will see a completion around 178.76 and possible first target 178.416 for a nice ~35 pips. Currently, we have the currency bouncing off a trend-line resistance. Best time than any to join the ride to the D-point.
Trade wisely, Trade Responsibly.
Comments
akhostov
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so that worked out quite well. Made a profit going up to completion and profit going back down. + 70 pips