GBPJPY has finished retesting the trend line after breaking out of it, which was also a retracement after the big downward movement. On top of that the right shoulder of the head and shoulder pattern is almost done forming which also indicated downward momentum. With all of these confluences, it is obvious that this pair is going to drop. We will enter our short a little below the neckline of the head and shoulder pattern.Entry @ 134.746
SL @ 135.457
TP 1 @ 134.264
TP 2 @ 133.858
Trade active
Trade has just opened with strong downward momentumTrade closed: target reached
TP 1 hit
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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.