AuthenticTrader
Short

Correlation Trade with GBP/JPY

FX:GBPCHF   British Pound/Swiss Franc
22 0 2
Sell set up for both these pairs as they are both highly correlated with each other (+98%) and both give good signs that short term uptrend is over and market has reversed:

On this pair we have shooting star. a tag of the upper BB, and stochastic moving down with a signal line cross. All this has happened at R1 key resistance, along with a very strong horizontal resistance level.

Enter now or wait for close of this day for a bearish confirmation candle/Evening Star. Stop loss can be the high of the Star or Most recent swing high, as they are about the same. Very good R/R here of 1:3

See GBPJPY             pair and idea there. Take one of both!
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