Technician
Short

Shorting the GBPJPY On Resistance Confluence

FX:GBPJPY   British Pound/Japanese Yen
1729 22 17
Update: Target reached without entry, so i cancelled short for now..
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A potential short trade on multiple resistance levels:

-50-days SMA
-Main descending resistance for the bearish wave
-A cluster of horizontal resistance levels, more clear on the daily chart

Trade Safe, and Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
hello technician hope you are fine thanks for this post
Reply
Technician TOP manijeh.kazemi.33
Am great, and you?.. Thanks.
+1 Reply
Thank you, Technician!
Are you started this trade or waiting 176.60?
Reply
kofesutra kofesutra
I`m sorry! 173.60, of cause ;))
Reply
No i will wait for a test of 173.60
Reply
kofesutra Technician
Thanx! I`ll waiting it with you ;)
Reply
Hello Technician , do you have special settings on the SMA 50 days? I have the standard settings and the current price is above the SMA line.

Thanks.
Reply
Hello, this is the 50 days moving average, which equals to 300 period on the four-hour chart above.
Reply
May I know this trade is still effective or not because 80% of first target is reached? Thanks.
Reply
Technician TOP VelsonChew
Yeah its still valid for me
Reply
Is it finish right now? Or wait for first target and then for second? How do you think?
Reply
Technician TOP Andrei Serdiuk
If its invalid for me i will update here.
Reply
Andrei Serdiuk Technician
Ok. I hope you :)
Reply
I cancel the trade because first target is hit without triggering entry.
Reply
Technician TOP VelsonChew
Yep i cancelled too. But i will monitor now if i see rejection i might re-enter
Reply
VelsonChew Technician
What kind of rejection will make to u entry?
Reply
Technician TOP VelsonChew
I will see, its discretionary. I will update here if i shorted
+1 Reply
NickLee Technician
are you going to re-enter based on the price now
Reply
No
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Hi Luay. I think that another short opportunity might be developing on this pair.
Short opportunity is developing on #GBPJPY, #FOREX.
Reply
Technician TOP HamedAghajani
Honestly i dont see a sell signal yet... So I am not short
+1 Reply
Do You Offer Course, if someone is interested in learning
Reply
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