Gjshort
Gbp Jpy Short The Beast Wait for wedge to break and retest, Aggressive traders can take position with stop loss FX:GBPJPY
GJ TO CONTINUE DROPPING ?It gave us a symmetrical triangle
so we wait for break and then we eat that drop
GBPJPY Short - 20th August 2019Check out GBPJPY, I think we may get a significant pullback, then a continuation short
GBPJPY Possible Short PositionInstitutional support at the .79, an ideal entry @ either the .7 or .79. Overall trend agress
GBPJPY reaching the 138.000 Resistance in H1GJ broke the flag from above yesterday, continued straight up and now it is close to the 138.000 Resistance zone. I would wait for a retest and short it with caution, proper risk management.
GBPJPY Shortonce again just an idea, let me know what you guys think. feedback is welcome. Another mark up will be followed with an alternative in case there is a break of the current resistance.
GJ ShortsGJ pushed up to retest 145.850 lining up with the daily descending trend line and the 61.8 fib level. On the H4, price broke 145.400 and i'll be looking to take sells on the retest off this level, bare in mind that gj tends to be volatile so a big stop loss should do if the structure holds.
GBP JPY TARGET HIT Our GBP JPY trade idea has now hit the final target and we will now see it test the 200 moving average on the 4 hours we could see a small retrace before the pair continuing bullish or we may see a breakout.
Trade on H4 chart: short for a re-test or await the breakout and go long targeting 146.700 - 147.000
Short bias on GBPJPY GJ keeps declining in this descending channel, i expect further downside move to 145 during London session while Assian session will pullback the price to my entry.
Week 8 Trade 1 GJ Short Reasons for entry:
- Price is currently in a downtrend
- Possible 3rd trendline bounce and rejection (4hr & daily timeframe)
- Price has reached and rejected the 88.6% fib on the 1hr timeframe
- Price has also rejected and retested 143.00
- Price is loosing momentum
- Eveningstar candlestick formation on the 30min timeframe
Entry Timeframe:
- 30min Eveningstar formation
- @142.88
Stop Loss:
@143.05 (-17pips)
Take Profit:
- Target 1 @142.00 (+88pips) = Risk/Reward : 1:5
- Target 2 @141.25 (+163pips) = Risk/Reward : 1:9.3
- Target 3 @140.75 (+213pips) = Risk/Reward : 1:12.1
Notes:
- Tight SL, will look to add a second entry should price break and close beneath the trendline
GBPJPY SHORT from yesterdays aggressive move on GBPs, we can see that today a correction is happening, look to sell the continuation with great risk to reward.
GJ SHORTS TO CONTINUE Expecting GJ to continue down next week. Brexit BS to continue and dollar strength could continue as well.. GBP had signs of strengths this week. But, in my opinion it was just normal behaviour with whipping back scaring and crushing new sellers out.
We will see!
