FX:GBPJPY   British Pound/Japanese Yen
302 25 9
SHORTED AT 161.8 LAST TRADING DAY.
WITH STOP ABOVE 192.00.
YESTERDAY D1 CLOSED 1 PIP ABOVE 191.
WORRIES ME SLIGHTLY.
ALL THE BEST TO ME AND THOSE WITH ME.
RSI OVERBOUGHT/SLIGHT DIVERGENCE FOR SOME DURATION NOW.

THUMBS UP IF YOU LIKE THIS IDEA OR WISH TO RECEIVE UPDATES ON THIS PAIR.
EZ
2 years ago
This one seems right but risky. Yen is very week while GBP is strong.
+1 Reply
PriceActionTrading EZ
2 years ago
Yes indeed EZ. Im in @ 191 with SL @ 192.00. give it a 100 pips range freeway. for potential 300 pips gain. I hope im right on this one.
+2 Reply
Andyle
2 years ago
G/U may down so I think your plan could work
+1 Reply
PriceActionTrading Andyle
2 years ago
Yes. But i have another setup for GU. Still waiting :)
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+1 Reply
IvanLabrie TOP PriceActionTrading
2 years ago
I wouldn't want to short. You're seeing an H&S there?
Proportion looks off.
Any other justification for a short?
+1 Reply
PriceActionTrading IvanLabrie
2 years ago
@Ivan. I didnt short. Haha. Until the break of H&S is confirmed then i may put my money in.
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Andyle PriceActionTrading
2 years ago
Yay. I realized HnS yesterday. I put 1 small short position already. Maybe too aggressive i think.
+1 Reply
PriceActionTrading Andyle
2 years ago
@Andy. Yes i think it is quite aggressive. But if you justified your short based off the H4 bearish 70 pips pin bar, it is justifiable. But overall D1, aggressive :) . But whatever suits you Andyle :)
+1 Reply
P_Parker
2 years ago
Hm, maybe this rising wedge gives you bit more confidence?
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+1 Reply
PriceActionTrading P_Parker
2 years ago
Yes parker i have that too. Nice one. Rising wedge with RSI divergence. But GBP strength defies all logic recently.
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6/6/2015 UPDATE :
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08/06/2015 UPDATE : MARKET GAPPED DOWN. SHOWS MARKET LOADING SHORTS.
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08/06/2015 LONDON SESSION OPEN UPDATE :
BOOM!
STEP 1 : CLOSE BELOW 191.00 H4
STEP 2 : CLOSE BELOW WEDGE
STEP 3 : COLLECT PROFITS
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09/06/15 UPDATE : SOLID H4 CLOSE OUTSIDE THE WEDGE PATTERN. CLOSED SOME TO TAKE PROFIT. ADDING MORE POSITION ONCE RETEST THE 191.00 RESISTANCE LINE.
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UPDATE : ONE COULD USE THIS OPPORTUNITY NOW TO ADD MORE SELL POSITION. SELL @ RETEST. OF PREVIOUS WEDGE AND RESISTANCE LEVEL.
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manijeh.kazemi.33 PriceActionTrading
a year ago
thanks
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10/6/2015 UPDATE : THE D1 SUDDEN CLOSE BACK INSIDE THE WEDGE IS WORRYING, FORMING A 180 PIPS BULLISH PIN BAR.
IT COULD BE A RETRACEMENT ON THE H4 OR IT COULD, WELL, BE A BULLISH PIN BAR D1.
KEEP STOP ABOVE 192.2 AND HOPE FOR THE BEST.
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PriceActionTrading PriceActionTrading
a year ago
Retracement completed and D1 pin bar invalidated. Downwards movement is real.
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Already 200 pips and counting. Scaled in twice already. Closed half of position for a good profit.
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Possible retracement right now.
Looking to add near 78.6% @ 191.00.
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Did not hit entry limit for adding position onto this pair. But this pair looks to be tumbling now. If this tumble is fake, i will still continue to look to add position @ 191.00.
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Added position @ 190.95. With 80 PIPS SL.
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manijeh.kazemi.33 PriceActionTrading
a year ago
Hi yoursl 191.90 or 191.600
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PriceActionTrading manijeh.kazemi.33
a year ago
Soft SL @ 191.9. Only close out with a D1 solid close above.
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12/6/2015 UPDATE :
GOT STOPPED OUT IN FULL FOR A SMALL LOSS. LOOKS LIKE WEDGE PATTERNS PREVAILS.
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