Hi Traders,
Today I take a look at GBPJPY For an easy short setup, I see that price is approaching a resistance on the 4-hour time frame, I Would like to see price push up before potentially shorting.
This would be a simple Break and retest trade with anticipation of the continuation.
This trade would be simply following the higher timeframe momentum, With everything falling right now and the FOMC happening, later on, I would rather stick to the trend, If price does not push into resistance and decides to drop from here I will be back tomorrow to re-evaluate the trade idea.
Be safe today as we can expect a lot of false signals and a lot of fake-outs happening as we wait for the fed to Hike Interest rates.
Renaldo Philander
Today I take a look at GBPJPY For an easy short setup, I see that price is approaching a resistance on the 4-hour time frame, I Would like to see price push up before potentially shorting.
This would be a simple Break and retest trade with anticipation of the continuation.
This trade would be simply following the higher timeframe momentum, With everything falling right now and the FOMC happening, later on, I would rather stick to the trend, If price does not push into resistance and decides to drop from here I will be back tomorrow to re-evaluate the trade idea.
Be safe today as we can expect a lot of false signals and a lot of fake-outs happening as we wait for the fed to Hike Interest rates.
Renaldo Philander
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.