TraderAvDM

GBPJPY Sell Continuation Trade

FX:GBPJPY   British Pound / Japanese Yen
In my weekend analysis, I published this chart on GBPJPY and as you can see, the lower TL finally broke. So, I expect a continuation in downtrend.


However, I believe the best area to re-enter Sell is at 133.45-133.65 area with a target of 132.
Comment:
GBPJPY another rejection at the hourly resistance. Could potentially drop to 132 by tomorrow
Trade active: Sell @133.61

Comments

Already bagged some nice profit from this trade also. Thank you for the amazing analysis!
+3 Reply
TraderAvDM RebecaPescaru
@RebecaPescaru, Yes it was a quick one hour trade :)
Reply
The JPY definitely is weakening against the GBP, reversing the February trend. Seems the bears are all in to correct the price
+2 Reply
TraderAvDM marksempewo
@marksempewo, Yeah would be looking to sell if it gets to that area. Today's sell as you know closed with 26 pips
+2 Reply
Thanks Prof, I have already placed a sell, Hopefully the direction of the market will not change to first test the 100MA Confluence and previous support and resistance above the current S&R at 133.033. I have placed my Stop loss well above 133.730, we will wait and see how will market move
+2 Reply
TraderAvDM Intsika
@Intsika, You're absolutely right. That's what I'm looking at. The confluence of 100H ema and previous broken Support
Reply
look forward to catching this downward move :D sell limits set, just a matter of waiting for the markets!

Spot on indepth analysis is really aiding in my own chart work. Appreciate the time and effort what goes into publishing posts such as this on a frequent basis
+1 Reply
TraderAvDM TradewithDann
@TradewithDann, Thanks mate. I am glad that you find these helpful :)
Reply
Killing it as always!
+1 Reply
TraderAvDM forekast
@forekast, Thank you :)
Reply
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