Hello Traders! My research work on the J pattern is paying very well and you will not find these guides anywhere else. So enjoy all this free stuff.
According to my rule, GBPJPY is forming Formation 2: Bounce Back which is the rare one because rather than falling hard it bounces back from the point where the J pattern started. It bounces back only because of strong support besides that point. To view the formations click the chart below.
Currently, GBPJPY has already shown that it is forming Formation 2:Bounce Back but I will only trade after 100% confirmation and It will be confirmed when Monday's candle close Bullish in D1 timeframe.
If Monday's D1 candle close bullish then we will buy it and our target will be 142.50 because the target will be of the same size as the J pattern. This will be about 500 pips trade.
Also, don't worry about the fall on Monday because bulls and bears both are in control we will catch the trade at the correct time in the correct direction. That's the power of strategy.
I love this analysis .. That is what is exactly happening in the market
Aadil1000x
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@Forex_Hokage, J pattern strategy is a good strategy it never disappoint me. I will only enter after the confirmation. Because all possibilities of gbpjpy are predictable now. When it tries to move in any direction we will catch it.