BULLISH FLAG - GBP/JPY
Hi Guys.
Here is an idea. it might be a bit late and the price will never go back to this level in this particular setup.
Bullish flag reaches it's target 90% of the time. Target is 145.000 which was a S/R in mid June
First fibo retraced just below 23%, which formed the flag and then started to go up.
Now, I'm expecting to see prices come down to 139.000 which is another 23% retracement and also test the GAP.
Let's wait and see what will happen. I will only open a position if the price reaches 139.000 again.
Give your thoughts about this setup.
Thanks
Here is an idea. it might be a bit late and the price will never go back to this level in this particular setup.
Bullish flag reaches it's target 90% of the time. Target is 145.000 which was a S/R in mid June
First fibo retraced just below 23%, which formed the flag and then started to go up.
Now, I'm expecting to see prices come down to 139.000 which is another 23% retracement and also test the GAP.
Let's wait and see what will happen. I will only open a position if the price reaches 139.000 again.
Give your thoughts about this setup.
Thanks
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