On FX:GBPJPY , we had a trending market last month. The price was going upward, making higher high and higher lows. but the last swing broke the structure and change the market to sideways. The price dropped this week and its time for the correction. There is a valid cypher pattern to go long. Put SL below X leg. In addition, we have a trendline (dynamic...
For the meanwhile this pair is looking short to downside targets of 182.500 possibly lower. For those of you who are looking to enter short a break and close below the mini yellow trendily would be a good entry.
However on the longer term picture we are looking longer to the "D" on the red harmonic pattern around 187.930. If price does not drop down to the...
we have a very nice Bat pattern on FX:GBPJPY which is almost completed. Stops must go below the structure level 184.22, look left and check it. And our targets are 38.2 and 61.8 fib levels with the confluences of very nice key levels. Be aware that price has a high momentum, let it calm down and then go long. Besides we have a very nice confluence of weekly S1...
Speculative potential targets and scenarios for entry and TP. I got in with QM at 182.700.
FINGERS CROSSED....AND STEADY AS SHE GOES!!! :-)
Opinions most welcome folks.....
