Hello traders,
As for the upcoming week, I'm looking to short GBP/JPY. I actually did enter a 0.20 lots yesterday (7 hours before market closure) and caught about 55 pips. Reason is because market manage to break recent minor support and successfully re-tested the support which then became resistance.
Now I personally believe that price is in a clear downtrend where the next support level is @ 137.400 . Therefore, I am only looking for sells on GBP/JPY and will only enter when the trade meets at least 2 out of 4 of my rules/requirements.
When the rules/requirement are met. I will enter a sell position at around 138.95 (which is also my fibonacci retracement golden zone) creating a very good risk to reward ratio.
Disclaimer:
All analysis are based on opinions and no strategy are 100% guaranteed to not incur any losses. Trade at your own risk.
As for the upcoming week, I'm looking to short GBP/JPY. I actually did enter a 0.20 lots yesterday (7 hours before market closure) and caught about 55 pips. Reason is because market manage to break recent minor support and successfully re-tested the support which then became resistance.
Now I personally believe that price is in a clear downtrend where the next support level is @ 137.400 . Therefore, I am only looking for sells on GBP/JPY and will only enter when the trade meets at least 2 out of 4 of my rules/requirements.
When the rules/requirement are met. I will enter a sell position at around 138.95 (which is also my fibonacci retracement golden zone) creating a very good risk to reward ratio.
Disclaimer:
All analysis are based on opinions and no strategy are 100% guaranteed to not incur any losses. Trade at your own risk.