Potential aggressive Bearish Head and Shoulders Entry for GBPJPY
Updated
We could look to enter short at a 61.8 fib retracement of the latest outside return, which would be an aggressive head and shoulders short entry. We would set targets at the retest of the neckline and could shoot for extended targets at 151.350s due to fib confluence, and a harmonic move down from previous impulse leg. A good safe stop loss would be set above the major resistance level at 153.000s.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.