Good entry for a riskier short on GBPJPY
The orange line is a weekly resistance!
We can see that price has stopped its bull run after reaching this line.
There is RSI divergence from the last 2 tops
I expect the price to just dump from here, so I put a tight stop. So this is a more risky trade with a bigger RR of 5.2
We can see that price has stopped its bull run after reaching this line.
There is RSI divergence from the last 2 tops
I expect the price to just dump from here, so I put a tight stop. So this is a more risky trade with a bigger RR of 5.2
Note
Here is the weekly orange support:Note
GBP pairs are at the top of a big range right now, so expecting it to go down from here!Note
There was RSI divergence all around on this one with the 1H timeframe :)Note
^^ 3 out of 4 would have worked out perfectly
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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.