GBPJPY Simple Short Idea
Updated
Price broke 192.36 support making lower low signaling a bearish shift of trend.
Im targeting at least a 50% retracement from ceiling price of 193.6 and floor price of 188.
50% retracement price is 190.74.
This is a simple 1R idea.
Im targeting at least a 50% retracement from ceiling price of 193.6 and floor price of 188.
50% retracement price is 190.74.
This is a simple 1R idea.
Trade active
Added 2nd entryAdjusted TP to 190.2
Note
Same framework as one of my previous successful ideas See link below for in-depth analysis
Note
190.2 is1. 0.62 Fib
2. Weekly Demand Zone/Weekly Order Block
3. 4H Demand Zone/4hour Order Block
4. previous week high, targeting this would fill the imbalance of unfilled institutional orders.
The link below is a successful idea which is my framework for this short.
Trade closed manually
3r
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