Bullish Pennant on GBP/JPY @ D1

2019-11-04 03:38:54

This bullish pennant pattern on the daily chart of GBP/JPY provides a bullish breakout trading opportunity. The pennant and its pole are shown with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set my stop-loss to the lowest point of the pennant part of the pattern.