GJ Potential Long

9 thg 11, 2017

I see a bullish pennant forming on GJ, I think we'll see some more consolidation over the next week or two and then a strong bullish push that will slow down around 160.00. I've been long for about a month on GJ with an entry at 148.046. At one point I was up 350+ pips but decided to hold (currently up about 70 pips). This trade was more of psychological test for myself to hold a swing trade like this. I think the overall trend is bullish based on the weekly time frame which is why I took this position. My TP for my trade is at 158.00 due to the different levels of resistance at 160.00. We have a 50% FIB off of the weekly bullish move and a FIB full extension that lines up with the 50%.