Bearish Shark Pattern on GBPJPY

29 בינו׳ 2015

We have a Bearish Shark Pattern that is forming on the GBPJPY. The great part about this setup is the 0.886 XA retracement matches perfectly with previous structure (dashed red line). We will see a completion around 178.76 and possible first target 178.416 for a nice ~35 pips. Currently, we have the currency bouncing off a trend-line resistance. Best time than any to join the ride to the D-point.

Trade wisely, Trade Responsibly.