Short

GBPJPY - Shorts

Updated

I am anticipating a short in this pair as price has become bearish. I have marked out a zone where i believe that price will retrace to and then sell off from.

Once price hits this zone i will look for my confirmation entry. I am expecting to see 161.00 area as target

Happy Trading

Note

Note

Waiting on for price to break below the line labeled swing, the sequence of orders will have to be
1. break swing line
2. Entry at red box zone.

Price cannot enter red box first and then break swing

Note

So the update here is that arrived at our trade zone, price did trade above it however we are still in a great zone to short. At this time I have switched over to my entry time frame and i am waiting to execute a trade once my conditions are met.

Note

Still waiting on price to trade below the line labeled swing, but it seems that price created two trade zones.

I rather see price trade at the zone closest to the top (entry 163.873) however there is a chance that price could hit 163.770 and sell off from there. Because of this i suggest making stops at 164.011 + Spread for both trades.

Note

Almost there

Trade closed: stop reached

Trade ended up sweeping the entry zone. -1RR trade, however USDCAD trade ended with 18RR so we are in great position for the week

Team_MonteCarlo

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