PriceActionTrading
Short

GBPJPY RE ENTRY ONTO BEAR TREND

FX:GBPJPY   British Pound / Japanese Yen
136 0 2
IDEAL RE ENTRY IS AT 183.5, PREVIOUS SWING POINT.

ANALYSIS :
PRICE FORMED A ROUNDING TOP H4, AND TRADING BELOW THE 20 AND 50 SMA .
CURRENTLY FORMING THE SECOND SHOULDER.
PRICE CLOSED BELOW AND REJECTED FROM 20 AND 50SMA H4 YESTERDAY.

WAIT FOR PRICE TO NEAR THE 20 AND 50 SMA BEFORE ENTERING SELL.
DOWNTREND BIAS IS CONFIRMED IN MY OPINION. (REFER TO MY PREVIOUS IDEA)
THUS I WOULD SELL ON TOUCH OF 183.5, NO NEED OF FURTHER CONFIRMATION

NOTE :
I AM ALREADY SHORT FROM 183.9. CLOSED HALF AND MOVED STOP TO BREAK-EVEN.
GREEDILY LOOKING TO SELL AGAIN AND AIMING FOR 178.
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