A bullish flag has formed on the 4-hour chart of the GBP/JPY currency pair. It offers a buy breakout oppurtunity. The flag and its pole are shown with the yellow lines. My potential take-profit level is marked with the green line. My potential stop-loss level is marked with the red line. I will wait for a close reasonably above the upper border of the flag area to open a long position here.
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I have cancelled this setup as the pattern is no longer valid.
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