GBP JPY SHORT -> HEAD AND SHOULDER PATTERN

2020년 3월 23일

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