short GBPJPY
This currently looks like a good shorting opportunity and i have personally taken this trade.
The reasons why i have taken this trade are.
1. Its hit a EMA on the 4 hour chart.
2. Its his a area of value which is resistance which is the green line.
3. The 4 hour chart is in a nice smooth downtrend.
4. My entry was the big red engulfing candle.
My take profit will vary from a few factors i will make it shorter if price action shows it will turn against me at a support level. Or a big news event that i have not interest in trading against.
The reasons why i have taken this trade are.
1. Its hit a EMA on the 4 hour chart.
2. Its his a area of value which is resistance which is the green line.
3. The 4 hour chart is in a nice smooth downtrend.
4. My entry was the big red engulfing candle.
My take profit will vary from a few factors i will make it shorter if price action shows it will turn against me at a support level. Or a big news event that i have not interest in trading against.
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.