GBPJPY SHORT POST ANALYSIS (NY SESSION TRADE)
GBPJPY NY SESSION TRADES
I had been looking for some day trading opportunities during the New York session this morning and GBPJPY was showing some good potential short signals. When trading such a short timeframe the best way to approach it is to see what the VERY NEXT move the market is showing its trying to make is the one you have to capitalize on. This morning is was displaying a potential short. On the 15M-1H charts there was a very strong seller momentum push to the downside as you can see on the left hand side of the chart. The push had been a new low and the buyers had brought price all the way back up into the price level of 142.900 where the original move had started. This relief back into structure had been very weak compared to the downside push by the seller showing me that this was a 100% discount for the seller essentially. Which who wouldn't want a 100% discount ? ;) Let's take a look at this.
1H Chart:
*on this time frame GBPJPY had been in a sellers trend for some time almost since the beginning of November.
*watching the momentum it had showed mt that the sellers were still very interested in this pair to short
15M Chart:
*during the NY session when I'm looking for a potential trade opportunity I look at 1H for bigger picture and 15M for the details of what it is trying to show me the next move will be
*I had seen a very weak push to the upside and then a top started to form, showing seller interest again
*risk/reward was fantastic and decided to take the trade for 100 pips profit
REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WHEN TRADING. STAY DISCIPLINED TO YOUR TRADING STYLE AND PROCESS.
Please like and follow my page for more profitable trade setups as well as post-analysis !
Cheers!
I had been looking for some day trading opportunities during the New York session this morning and GBPJPY was showing some good potential short signals. When trading such a short timeframe the best way to approach it is to see what the VERY NEXT move the market is showing its trying to make is the one you have to capitalize on. This morning is was displaying a potential short. On the 15M-1H charts there was a very strong seller momentum push to the downside as you can see on the left hand side of the chart. The push had been a new low and the buyers had brought price all the way back up into the price level of 142.900 where the original move had started. This relief back into structure had been very weak compared to the downside push by the seller showing me that this was a 100% discount for the seller essentially. Which who wouldn't want a 100% discount ? ;) Let's take a look at this.
1H Chart:
*on this time frame GBPJPY had been in a sellers trend for some time almost since the beginning of November.
*watching the momentum it had showed mt that the sellers were still very interested in this pair to short
15M Chart:
*during the NY session when I'm looking for a potential trade opportunity I look at 1H for bigger picture and 15M for the details of what it is trying to show me the next move will be
*I had seen a very weak push to the upside and then a top started to form, showing seller interest again
*risk/reward was fantastic and decided to take the trade for 100 pips profit
REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WHEN TRADING. STAY DISCIPLINED TO YOUR TRADING STYLE AND PROCESS.
Please like and follow my page for more profitable trade setups as well as post-analysis !
Cheers!