GBP JPY SHORT -> HEAD AND SHOULDER PATTERN
As you can see GBP JPY have formed a head and shoulder pattern on the 1 hour timeframe. There is also some pretty strong resistance prior to the shoulders around the same level thus making this a possible nice entry! We should wait to get a nice entry where we could get a better risk reward ratio along with the possibility of a bigger profit at the end! Overall trend is downward and we could now like to see a rollback to prior resistance over the 50MA then a rejection to continue the current downtrend! SL is placed according to structure as well as the tp.
As always use proper risk management and stay safe.
Btw if anyone think i should make a telegram group please say so in the comments below!
Thank you! :D
As always use proper risk management and stay safe.
Btw if anyone think i should make a telegram group please say so in the comments below!
Thank you! :D
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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.