Hello my friends,
Today i am trading GBPJPY as there is a very interesting setup on 1hr timerame.
First we go a shoulders head pattern which got it neckilne broken twice. The first time price broken below neckline, it bounce from it for 80 pips.
This time price broke below the neckline for the 2nd time and only bounce for 50 pips.
This kind of movement shows that buyers are losing to sellers and now we could see price going down again.
We also got confirmation as price is now below the kumo on 1hr tf and parabolic SAR is above the price.
Sell GBPJPY 141.15
Stop loss 141.60
Take profit 1 @140.60
Take profit 2 @140.05
Use only 1-2% risk
Good luck
Today i am trading GBPJPY as there is a very interesting setup on 1hr timerame.
First we go a shoulders head pattern which got it neckilne broken twice. The first time price broken below neckline, it bounce from it for 80 pips.
This time price broke below the neckline for the 2nd time and only bounce for 50 pips.
This kind of movement shows that buyers are losing to sellers and now we could see price going down again.
We also got confirmation as price is now below the kumo on 1hr tf and parabolic SAR is above the price.
Sell GBPJPY 141.15
Stop loss 141.60
Take profit 1 @140.60
Take profit 2 @140.05
Use only 1-2% risk
Good luck
