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Snick3rSD
Aug 10, 2023 6:10 PM

GBPJPY - Short active ✅ Short

British Pound/Japanese YenFXCM

Description

Hello traders!
‼️ This is my perspective on GBPJPY.

Technical analysis: I expect bearish price action here as we can see that price took out buy stop liquidity and rejected from institutional big figure 184.000. This is a risky short as it is against market structure, but I assume it.

Fundamental analysis: Tomorrow will be released monthly GDP on GBP and if the result is negative, it will support our analysis.

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Comments
TheFxAce
I like the short strategy. How do you arrive at a target sell price?
Snick3rSD
@TheFxAce thanks, I follow the move for the target
TradeGod003
I agree it opened closer to a resistance level... but it's been a struggle so far
Snick3rSD
@TradeGod003 you are right
shahzebmughal007
fantastic sir
Snick3rSD
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