Gartley pattern complete, potential further downside for GBPJPY
Looking for further downside of rGBPJPY as the gartley pattern has completed which showed a pretty good downside as price had also retested a trendline which it previously down from.
The TPs are listed on the chart itself, TP 1 being 145.45 and TP 2 being 144.480
Important price range to observe price action would be 145.08 to 145.48
Fundamental news regarding the Brexit deal/negotiations and the potential rate hike in August will greatly affect the direction of the Pound.
Disclaimer: Content discussed is for informational purposes only and does not construe an offer or solicitation to engage in any activity regarding the subject matter.
The TPs are listed on the chart itself, TP 1 being 145.45 and TP 2 being 144.480
Important price range to observe price action would be 145.08 to 145.48
Fundamental news regarding the Brexit deal/negotiations and the potential rate hike in August will greatly affect the direction of the Pound.
Disclaimer: Content discussed is for informational purposes only and does not construe an offer or solicitation to engage in any activity regarding the subject matter.
Trade active
TP 1 HIT! Price retested an extension of the channel before dipping down!Look out for price action at the CZ to see if price will hit TP 2!
Trade closed: target reached
TP 2 HIT! Price retraced to 147 level after hitting TP . If you extended the channel lines, you will notice that it was a retest and would have been an optimum entry point.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.