A SELL IDEA ON GBPJPY
A follow up on my last analysis on GBPJPY, we see The Beast getting ready for a further bearish move. The pair has been on a higher high/higher low correction move and currently failed to create a higher high and has tanked below the last higher low thereby giving us a confirmation that the bullish correction move might be over. Also we see the break of the current bullish trendline giving us a double confirmation.
We now patiently wait for our entry confirmation which is a pullback to the 61.8fib level. With that we jump right in for a sell and go for a 1:5.66RRR with Stop loss around the 192 area and take profit at the Daily Area of Focus around the 188.200 price.
We now patiently wait for our entry confirmation which is a pullback to the 61.8fib level. With that we jump right in for a sell and go for a 1:5.66RRR with Stop loss around the 192 area and take profit at the Daily Area of Focus around the 188.200 price.
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