Hello my friends,
I spotted a very good setup on GBPJPY pairs.
Price made a SHS pattern and it just break below the support with a solid candle close.
Notce also price smashed through the horizontal level so we could say this 136.40 level gonna be a strong resistance.
If we count the measured objective of this SHS pattern, it could go down towards 135.20 level
It is offering a 2R ratio so we wil try selling this pair.
Sell GBPJPY 136.40
Stop loss 137.00
Take profit 135.20
RR ratio 1 : 2
Use only 1-2% risk
Good luck
I spotted a very good setup on GBPJPY pairs.
Price made a SHS pattern and it just break below the support with a solid candle close.
Notce also price smashed through the horizontal level so we could say this 136.40 level gonna be a strong resistance.
If we count the measured objective of this SHS pattern, it could go down towards 135.20 level
It is offering a 2R ratio so we wil try selling this pair.
Sell GBPJPY 136.40
Stop loss 137.00
Take profit 135.20
RR ratio 1 : 2
Use only 1-2% risk
Good luck