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The_Forex_Path
Jan 4, 2023 10:05 PM

GBPJPY Short

GBP/JPYOANDA

Description

In my point of view I think that this day long price action is forming a retest for weekly and daily major broken support level.
GBP pairs usually react to 0.5 Fibo retracement levels. If it breaks the upper zone I'll change my mind to long.
For sure price may buy back up for the short-term pushing possibly to 161 - 162. The thing is if it will give wicks or strong candles.
JPY is possible to retrieve momentum.

Comment

partials at +50 pips

Trade closed manually

closed at 159.200

Trade active

Second short trade active

Comment

50% closed manually at support zone -> 160.129. Almost 100 pips.

Trade active

Tp1 hit - 160.118.
+100 pips.

Comment

80% closed at 159.168 grabbing +200 pips

Trade closed manually

Both trades closed manually.
The second on with 329 pips and the first one with 201 pips.
Overall 530 pips in profit. That went really well!
Comments
JoeChampion
Great outlook buddy!
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