Looking at a potential 2618 pattern formation for GBPJPY on H4 looking forward to short the pound at the 0.618 of the fibo retracement. This pattern will complete the leg extension for a bigger gartley pattern at weekly timeframe
Trade active
GJ finally reached 0.618 just the area we where waiting to go short in this pair, we are looking a major timeframes looking for a good 500 pips TP been this a swing trade order. Note
holding shorts in GJ running 134 pips in profit, we are waiting for the pattern completion to exit this trade Note
GBPJPY giving potential short entry Note
Consolidation is definitely the best place to look for advanced pattern, in this GJ consolidation we can find butterfly pattern to make ti move up and Cypher pattern giving our move down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.