1:5 rr on short term retracement gbpjpy

Overall this pair is bullish if you look on higher timeframes but i think i found a nice trade opportunity off of a possible retracement. On the 1hr timeframe price is trading within a channel and the top of that channel is showing potential for a double top pattern. I beleive price will break through the channel but not the whole way because like i said before its looking very bullish on higher timeframes my tp has been set by what i see on 4hr timeframe with fibbonacci tool and my sl has been set based off 1hr timeframe. Good luck traders

Commentaire:

SL hit