After 4H structure was broken and we saw perfect retest before next move down confirmed usthat we ready for downtrend continuation on weekly overview (Weekly candle closed bearish engulfing)
GBPJPY is now meeting some major daily support with down trendline at the same time.
If we see break and retest, we will be looking for some excact sell setups and jump on downtrend continuation.
Be careful of huge pullbacks, GBPJPY is very aggressive pair (Also be careful on potential weekend gaps, which might be coming today).
Trade with proper risk management and caution.
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You can see that GJ is still respecting downtrend trendline on 1H/2H/4H timefraes perfectly, now is breaking some major keys as I said
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Breaking supportive trendline + Daily support!
Trade active
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After Absolutely perfect retest of daily support on M30/M15 we were active... Hope you caught the wave. First TP on touching trendline around 139,5 area
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Its bouncing of support trendline. If we will see break + retest, then there is next position to short GBPJPY
Trade closed: target reached
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Target Reached as I said in updates (touching trendline). There is big probability for GJ go more lower, but i took most profits at 139.3 (100 pips).