Shorting the GBPJPY On Resistance Confluence

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Short

British Pound/Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound/Japanese Yen

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
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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

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Skype: Technician - The forex channel

hello technician hope you are fine thanks for this post

manijeh.kazemi.33

Am great, and you?.. Thanks.

Thank you, Technician!
Are you started this trade or waiting 176.60?

kofesutra

I`m sorry! 173.60, of cause ;))

kofesutra

No i will wait for a test of 173.60

Technician

Thanx! I`ll waiting it with you ;)

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.

aleipena

Hello, this is the 50 days moving average, which equals to 300 period on the four-hour chart above.

May I know this trade is still effective or not because 80% of first target is reached? Thanks.

VelsonChew

Yeah its still valid for me

Is it finish right now? Or wait for first target and then for second? How do you think?

Andrei Serdiuk

If its invalid for me i will update here.

Technician

Ok. I hope you :)

I cancel the trade because first target is hit without triggering entry.

VelsonChew

Yep i cancelled too. But i will monitor now if i see rejection i might re-enter

Technician

What kind of rejection will make to u entry?

VelsonChew

I will see, its discretionary. I will update here if i shorted

Technician

are you going to re-enter based on the price now

NickLee

Hi Luay. I think that another short opportunity might be developing on this pair.

Short opportunity is developing on #GBPJPY, #FOREX.

HamedAghajani

Honestly i dont see a sell signal yet... So I am not short

Do You Offer Course, if someone is interested in learning

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