samoli1234
Short

GBP/JPY SHORT - Below 164 resistance.

FX:GBPJPY   British Pound / Japanese Yen
97 5 4
Potential short opportunity for GBP/JPY             .

My logic:
Approaching a nice downward trend line .
Stochastic is overbought.
Price capped by strong resistance at 164.

My trading plan:
Already short at 163.850 with a stop loss of 164.250 and first target 161.100. Small risk trade as I dont think the resistance at 164 will be broken, If it breaks I will look to re enter upon reaching the trend line .
Comment: Resistance broke, trade ended at stop loss - small loss. Shorted at rejection of trend line - Stop loss just above the trend line and the same target.
I dig it and am doing the same. Basically in a bear flag right now and once broken, TIMMMMMMBER!
Reply
samoli1234 geppytrading
shame about the break of the resistance but it bounced nicely off the trend line!
Reply
geppytrading samoli1234
Yep! I hadn't shorted yet, but I did end up shorting after the rejection. Holding a position through the weekend with a 164.45 average.
Reply
samoli1234 geppytrading
Nice! I entered again at the trend line time for a nice drop!
Reply
geppytrading samoli1234
Awesome! Best of luck to us next week :-)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out