GBPJPY (1D): Strong Selling Area
Updated
GBPJPY Timeframe: 1D
Direction: Short
Confluences for Trade:
- Stochastic Overbought momentum (1D, H4, H1)
- Strong Selling area (since June 18, price has been sold down from this area)
- Fundamentally, yet to see actual progress in Brexit negotiations; so far all we are hearing are reports are saying this and that. Add on, a risk off play may be likely if the Democrats take over the House of Representatives.
Suggested Trade:
Entry @ Area of Interest: 148.20 - 149.20
SL: 149.76
TP: 146.18
RR: Approx. 2.09 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Trade closed: target reached
Good catch :D
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.