gbpjpy h8 xabcd short from resistance swing trade

🔸speculative xabcd setup in progress in gbpjpy 8hour chart.
reversal at point D at 170.80. Final pump incoming before reversal.
point C was printed recently at 159.85.

🔸XABCD pattern structure is defined by point X at 167.90
point A at 157.90, point B at 165.30, point C at 159.85
and point D at 170.00/170.80, which is a 113/127 extension.

🔸Recommended strategy BEARS: wait for the final pump before shorting,
best entry near point D at 170.60/170.80 SL 120 pips TP1 164.00 TP2 158.80.
this is a swing trade setup, higher risk reversal trade setup, patience required,
use appropriate risk management strategy. good luck traders!

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הערה:

upside still remains until we hit point D/PRZ