GBPJPY 1 Hour: Potential CTS Short

FX:GBPJPY   British Pound / Japanese Yen
this was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's level.

Syndicate members, i just emailed out a video going over this one in a little more detail.

Also Check out my latest Periscope Video "3 Questions From A Prospective Trader" https://www.youtube.com/watch?v=1OYET5g5gAw

Akil Stokes
Chief Currency Analyst & Trading Coach
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Nice Akil, nice! And if you load the new bars, you see it came right up to that level and then reversed
+1 Reply
Akil_Stokes KarmaSenge
Funny how things work out that way sometimes ;-)
Great work Akil. thanks again!
nice! I also found a potential cypher and bat pattern forming on the 4 hr that could work in conjunction with this idea. Although it is too early to say for the bat pattern, but price action may come to pattern completion somewhere between 181 to 182 based on the cypher pattern.

In conjunction with your idea, we may see a short-term bearish continuation to harmonic pattern completion at the 182 psychological level.

Of course, we will have to see if the market gives this to us or not... but just an interesting find (at least to me)

+1 Reply
Thanks Akil, I'm also watching a potential Cypher pattern on this pair that could give us different place to go long :-)
correct. look at my idea I published last week and see if you agree.
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