Trade Plan (Pending): I am selling GBP/JPY at 190.84
Round 2 for GBPJPY selloff
JPY Basket - the main driver for this trade plan is the Japanese yen. Although we have seen a correction to the downside, we will form a bullish Gartley pattern at 6450. With the long-term analysis now bullish, this is regarded as a good level to get long.
GBP/JPY - the intraday chart highlights the completion of a bearish Gartley formation at 190.84.
The four-hour chart highlights the cross moving higher within the BC leg of a Crab formation. This pattern will complete at 186.22 Bespoke support is located at 186.45 and 186.25.
Selling at 190.84 (intraday Gartley), targeting 186.46 (bespoke), with a stop loss of 191.60 (above the swing high), offers a risk-reward factor of 5.76R (swing trade)
I am selling GBP/JPY at 190.84
SL: 191.60
TP1: 186.46
Risk/Reward Ratio of 5.76R
JPY Basket - the main driver for this trade plan is the Japanese yen. Although we have seen a correction to the downside, we will form a bullish Gartley pattern at 6450. With the long-term analysis now bullish, this is regarded as a good level to get long.
GBP/JPY - the intraday chart highlights the completion of a bearish Gartley formation at 190.84.
The four-hour chart highlights the cross moving higher within the BC leg of a Crab formation. This pattern will complete at 186.22 Bespoke support is located at 186.45 and 186.25.
Selling at 190.84 (intraday Gartley), targeting 186.46 (bespoke), with a stop loss of 191.60 (above the swing high), offers a risk-reward factor of 5.76R (swing trade)
I am selling GBP/JPY at 190.84
SL: 191.60
TP1: 186.46
Risk/Reward Ratio of 5.76R
Nota
I have moved stop loss to entry. We could see another spike higher
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.