GBP and JPY have presented this week a lot of harmonic patterns, after the very painless Cypher that i completely missed yesterday we got another potential opportunity. This time go long at an even handle number 1.3100 that has minor structure looking left.
Notice that this pair has been trading in a very harmonic way (AB=CD) move completed few days ago, and as noted above a Cypher yesterday, let's see if we can make of this one the third harmonic move completed to our favor.
I'll adjust targets as price move beyond my entry point but the original ones are the .382 and .618 retracement.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean
Notice that this pair has been trading in a very harmonic way (AB=CD) move completed few days ago, and as noted above a Cypher yesterday, let's see if we can make of this one the third harmonic move completed to our favor.
I'll adjust targets as price move beyond my entry point but the original ones are the .382 and .618 retracement.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean
Trade active:
Filled 1.3102
Trade closed: stop reached:
This wasn't the greatest way to end the week