Prabhu.Ram

540 Pips and trade completed!

Short
FX:GBPJPY   British Pound / Japanese Yen
4
Hello traders,
I am again happy to announce that the short trade we had embarked upon when the pair had broken out of the wedge pattern to the bottom has achieved its wedge target and as well as the target of the harmonic ABCD pattern which we had used as a confidence builder for our short position to reach its logical end.
in the current session after the pair broke both the targets, it is trading just below the targets. There are two possibilities here. Either after some consolidation it can continue further down to the 38.2 % Fib support or it could show some pull back from here.
But, we do not have any reference to enter into any trade currently.
I would advice that we take our 540 pips here and wait for the pair to show further action to give us a contextual entry again.
Enjoy!!
Happy trading and happy pippin!