British Pound / Japanese YenUpdated GBYJPY CRAB PATTERN
After the July 2024 sell-off,
we looked to have found support
August close at 190.908 {an.886 retracement from dec 23' low}
we have two higher highs without a break of that low{on the daily}
we have divergence on the RSI
Complete the crab pattern which is in the process of completing the BC projection CD lag near 224.
Long Term a monthly close above 193 bullish
tp1:224
long term target: 340
we looked to have found support
August close at 190.908 {an.886 retracement from dec 23' low}
we have two higher highs without a break of that low{on the daily}
we have divergence on the RSI
Complete the crab pattern which is in the process of completing the BC projection CD lag near 224.
Long Term a monthly close above 193 bullish
tp1:224
long term target: 340
Trade active
198 is the line in the sand...
If we can break above this crucial zone we can be in search for 207 and beyond
Trade closed: stop reached
well stops were reached for idea.
entry was solid.
price failed to break 200. once price closed below 194.9 trade should have been closed.
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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.