GBPJPY Short: 5-0 Pattern to Missed Pivots

7 set 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 set 2016

Trade attivo

Time to short!

9 set 2016

Nota

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

9 set 2016

Nota

Beautiful resistance at 50% fib

18 set 2016

Trade chiuso: obiettivo raggiunto

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

21 set 2016

Trade chiuso: obiettivo raggiunto

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!