RE-VISIT OF LONGTERM VIEW | GBPJPY

We just closed a 242pips profit in our last trade (see link below for reference purposes) and it appears price is stalling for a correction move. See plan below


Tendency: Temporary Downtrend ( Bearish )
Structure: Harmonic | BAT
Observation: i. There is a price drop via XA leg.
ii. B retraces 0.382 of XA leg.
iii. BC retraces 0.5 of AB.
iv. CD is a 1.618 approximate extension of AB.
v. D is at a 0.886 retracement of XA leg.
vi. Price below Moving Averages on lower time frames.
Trading Plan: SELL now or at SUPPLY zone with a potential TP1 and TP2 with 930pips and SL @ 147.500/150.000 zone.
Risk/Reward: 1/3
Potential Duration: 15 to 25 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.



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