GBPJPY - HEAD AND SHOULDERS
Updated
We have spotted a H/S Pattern developing on this pair. We are currently short.
Entry Reasons: Break of the Flag pattern formation on the 1H and AB=CD Pattern which will give an equal move to the downside.
We will be looking to add a position at the break of the H/S neckline.
Levels: Entry 1 (Flag / AB=CD) - 143.513. Stoploss: 144.786. Take Profit: 141.250 or alternatively 137.150
Entry 2 (H/S) - 142.708. Stoploss: 144.000. Take Profit: 135.150
Goodluck!! NB!! Open an account with a true ECN Broker to take advantage of spreads as low 0.01 pips! Fast Execution, Fast Withdrawals (Neteller, Skrill, Bank Wire, Visa, Mastercard) Overall Great Service
Entry Reasons: Break of the Flag pattern formation on the 1H and AB=CD Pattern which will give an equal move to the downside.
We will be looking to add a position at the break of the H/S neckline.
Levels: Entry 1 (Flag / AB=CD) - 143.513. Stoploss: 144.786. Take Profit: 141.250 or alternatively 137.150
Entry 2 (H/S) - 142.708. Stoploss: 144.000. Take Profit: 135.150
Goodluck!! NB!! Open an account with a true ECN Broker to take advantage of spreads as low 0.01 pips! Fast Execution, Fast Withdrawals (Neteller, Skrill, Bank Wire, Visa, Mastercard) Overall Great Service
Trade active
Price broke the flag pattern on the 15M timeframe and we are shortTrade active
We took off some Profits at Target 1 at the completion of the AB=CD Pattern. The remainder of our position is still running. We are looking for opportunities to enter into the trend again.
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