Short GBPJPY

24 Nov 2014

Here's a quick play, two harmonic patterns completed within 20 pips of each other. Also, have a double top formation. Looking for 70 pips, which os the 38.2 retracement of the two patterns, typically i close half of the trade 38.2 and let the rest run to 61.8, but the JPY has been strongly bullish. I will be closing the full trade at 38.2, due to this. I think this is a more than usual risky trade, but i follow my strategy and analysis. The JPY pairs could use a little retrace/breather.