GBPJPY Short: 5-0 Pattern to Missed Pivots

7. Sept. 2016

Hey Traders! GBPJPY has entered the potential reversal zone for point E on a 5-0 pattern. The short at the 0.500 fib retracement remains valid unless price drops lower than 1.345 without entering the short area. Any entry into the short area from these levels will warrant a short and the pattern will be triggered and active. SL is placed above point B with target at the lowest missed pivot, confluent with the missed weekly pivot from last week.

Happy Trading!
GM

9. Sept. 2016

Trade ist aktiv

Time to short!

9. Sept. 2016

Anmerkung

AB=CD complete, confluent with completion of bearish 5-0 pattern

9. Sept. 2016

Anmerkung

Beautiful resistance at 50% fib

18. Sept. 2016

Trade geschlossen: Ziel wurde erreicht

370+ Pips! The 5-0 is a must-learn for any TA trader

21. Sept. 2016

Trade geschlossen: Ziel wurde erreicht

Final target reached at the weekend gap for a total of 615 pips! Only withstood a drawdown of 21 pips on this one for a total R/R of 29:1 soup to nuts. Happy trading everybody!