GBPJPY is offering a significantly interesting short opportunity, the telltale signs are there. If we look closely, we see that price has bounced from the biggest mode in the downtrend since 1991, and could never go back over it. In time at mode terms, we have a very clear weekly downtrend signal, confirmed by rgmov in the daily plotting a new 2 month low. This offers a very good short setup if we get a retracement entry. Be sure to take it! Entry would be anything above 191.91, with a stop loss slightly above the weekly mode at 193.468 (make it say 193.568)
I'm closing the shorts here in profit and looking to reenter.
It seems like we might see a move up soon, before the large fall that I anticipate and I'd prefer to book profits now.
Keeping usdjpy untouched though.
Elliottician_SamRoy
⋅
Agreed ! Good luck
IvanLabrie
⋅
Tahlil-Forex
⋅
is this shot still valid?? and the target is 171??
great oppertunity i guess
IvanLabrie
⋅
Try this short entry.
If filled, it's a home run trade.
Green line is the entry, SL, is the line above (you can see prices on the right)
KevinSinghDhaliwal
⋅
Looks good
IvanLabrie
⋅
If we ever get that fill that is.
Can you check 1h/4h for patterns Kevin?
I think it's doable, but not 100% sure.
KevinSinghDhaliwal
⋅
This one worked out really well!
IvanLabrie
⋅
It just began, it will consume some time and retrace, once it's done that it should go down twice as hard. :D
IvanLabrie
⋅
Reentered at 188.245, sl at 191.365. It can take as long as 12 daily bars for a move to surface, if we get stopped then the move wasn't an impulse.
It seems like we might see a move up soon, before the large fall that I anticipate and I'd prefer to book profits now.
Keeping usdjpy untouched though.