A double bottom pattern is occuring at the GBP\JPY pair at 4-hours chart. The double bottom is a reliable pattern with high win rate, and this one is even stronger due to its asymmetric nature. The 2nd bottom is higher than the 1st, which indicates that the buyers are becoming powerful, and sellers could not reach the previous low.
Pattern is 400 pips in size - very big one.
Trading: Take long at the pullback to the neckline, with 400 pips as your take profit.
Analysis Source: http://www.chartsecret.com/content/400-pips-double-bottom-gbpjpy
Pattern is 400 pips in size - very big one.
Trading: Take long at the pullback to the neckline, with 400 pips as your take profit.
Analysis Source: http://www.chartsecret.com/content/400-pips-double-bottom-gbpjpy
