GBPJPY swing long
Updated
Remember the bullish M pattern or XABCD? well, I think this might play out.
If the bottom is in (130.75), I'll look for the pattern to form and go heavy on longs; targeting 134.5.
Side note: look how the 161.8 fib extension aligns with the target, unbelievable.
Trade parameters.
Entry: 131.5
Stop: 131.1 (400 points)
Target: 134.5 (3000 points)
R:R: 1:7.5
Always wait for the perfect entry in order to avoid losing money.
If the bottom is in (130.75), I'll look for the pattern to form and go heavy on longs; targeting 134.5.
Side note: look how the 161.8 fib extension aligns with the target, unbelievable.
Trade parameters.
Entry: 131.5
Stop: 131.1 (400 points)
Target: 134.5 (3000 points)
R:R: 1:7.5
Always wait for the perfect entry in order to avoid losing money.
Note
OK, so the M played out perfectly, now expecting to see a run into 134-134.5.I'm already positioned.
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