848evo
Short

[TRADE SETUP] (RR=2.4) GBPJPY Breaking to Downside

FX:GBPJPY   British Pound/Japanese Yen
161 3 5
8 months ago
Looks like GBPJPY             is starting to make a break to the downside after retesting a prior support line. The H&S formation has been completed and looking for a move to the downside to test the lower support at 154.69 and if it breaks that, then expecting further downside movement toward the target area on the D1 chart from the flagpole pattern.

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8 months ago
Trade active: Looks like GBPJPY is starting it's push down, if trading just the H&S pattern, TP zone would be 154.69, but if looking at the bigger picture on the D1 chart, I'm looking for price to continue to drop toward the 144.3 area over a period of 3-4 weeks. If PA goes above the previous shoulder, the trade will be invalidated.
***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.
ShahidKhan
8 months ago
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848evo ShahidKhan
8 months ago
Hi there ShahidKhan, sorry, but I do not offer training, there is too much time and liability involved. You are more than welcome to follow me on here as I share all my trade ideas on TradingView. For my actual live trading, I use MT4 and my MT4 charts have a lot more analysis on them, I simplify the charts I post on TradingView with only the information needed.
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848evo
8 months ago
Looks like GBPJPY is starting it's push down, if trading just the H&S pattern, TP zone would be 154.69, but if looking at the bigger picture on the D1 chart, I'm looking for price to continue to drop toward the 144.3 area over a period of 3-4 weeks. If PA goes above the previous shoulder, the trade will be invalidated.
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