justatrader

GBPJPY - Descending Triangle + Hikkake Bar Pattern

FX:GBPJPY   British Pound/Japanese Yen
A bit curious to see how the Hikkake Bar pattern will form. It is not a trading system in itself, but I think it provides a good confirmation within a larger chart pattern. Here, we have a descending triangle pattern and a 'Potential' Hikkake bar pattern is being formed.

Its not a 100% Hikkake pattern because the set up didn't happen in 3 bars. Nonetheless, the appearance of this pattern near the support zone of the desc. triangle gives some indication.

****Short only if price closes below the support line.****
EDIT: Target revised to 170.657. Refer to comments
Target Revised to 170.657 based off closing prices instead of High/Low
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