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RaynLim
Dec 27, 2020 10:02 AM

GBPJPY - Bearish Butterfly Short

British Pound/Japanese YenFXCM

Description

I know a lot of traders has these rules of not getting overexposed in a single currency, I am not against those thoughts, but you have to ask yourself if you are trading a fixed pair or you are free to choose what you feel like trading.

If you are trading a fixed pair, just like me, my take on this is, if the trade setup within your rules and not against the fundamental analysis then you have to take it.

You see in this trading setup we have a Bearish Butterfly that broke the previous high, previous structure or you may even call it a break and close above the previous structure, while GBPUSD(link at the bottom) has a Deep Gartley Pattern setup within the consolidation zone without break previous structure.

I'm waiting for candle confirmation to engage this counter-trend trade.
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