British Pound / Japanese YenEducation
GBPJPY Head N Shoulders
GBPJPY created a nice head and shoulders.
On the left shoulder price failed to make a new high so we made a push down to form a higher low to create the head.
After the head price pushed down back to 142.300 area and then came up to create a right shoulder around 142.800.
This formation along with price being rejected and London session already opened this is was a highly profitable setup.
You could have entered on the right shoulder and secured 70 pips and some more.
On the left shoulder price failed to make a new high so we made a push down to form a higher low to create the head.
After the head price pushed down back to 142.300 area and then came up to create a right shoulder around 142.800.
This formation along with price being rejected and London session already opened this is was a highly profitable setup.
You could have entered on the right shoulder and secured 70 pips and some more.
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