GBPJPY: Double bottom divergence Long

FX:GBPJPY60

British Pound/Japanese YenFXCM

Description

⋅ Feb 2, 2015 5:02 PM

We have a valid double bottom divergence setup here.

Comments

Glirusse

⋅ Mar 1, 2015 6:53 PM

Profit taken i hope? Or trade stopped fastly? =)

KarYong

⋅ Mar 2, 2015 2:49 AM

depending on how conservative your stops are, it is either being stopped out or taken profit.

soul

⋅ Feb 2, 2015 11:00 PM

Hi,
congratulation for all your previous forecasts!!
According to you, which is the target price?
Thanks and good luck!!!
Michele

KarYong

⋅ Feb 3, 2015 2:08 AM

Hi thanks! Normally, we look left and look for structural level. Support/resistance level.

moneymaking

⋅ Feb 2, 2015 5:03 PM

Very interesting trade setup. Thanks for sharing akyong. Good luck!!

KarYong

⋅ Feb 2, 2015 5:04 PM

there is a previous bat pattern completion at this level too. However, the latest price action candle seems like it wants to go lower.

moneymaking

⋅ Feb 2, 2015 5:27 PM

There was also bat pattern in EURUSD on 1hr chart, got to the 1st target just in one candle. LOL. We rarely see these type of movements, but whenever they happen, it feel really good!!