EOM Update: GBPJPY - Falling again!

FX:GBPJPY   British Pound / Japanese Yen
502 0 14
A week ago, I updated my analysis on this pair (see this post: "UPDATE: ANALYSIS: GBPJPY             - Change In Wave Count. Still Bearish") and I suggested that there was more downside to go in this pair.

This was the chart from that post:

Looking at the main chart above, you can see what happened. From that chart I posted to now, prices dropped again just as predicted.

On March 29th, I posted a SHORT trade for this pair on my site to my members to SELL@162.127.. Shortly after that trade suggestion, prices just DROPPED again! I closed out that trade @158.870 for a total banked pips of +873 pips. Why did I close it out? Because I am expecting a retrace. And not knowing how large that retrace will be, I decided to just bank the pips and wait for another chance to to sell for a further drop as per my chart.

If I were to miss the continuation of the drop, I would wait for prices to break the support structure that is currently holding prices up, go down some and retrace back up to it in a support turned resistance price action to sell again.

My subscribers got this trade as well as several others in GBPJPY             this past month that racked up over +1900 pips and over $19,600 in profit this past month alone! Did you get those results? If you didn't, you could have. Just by subscribing. Want more analysis and trade ideas on this and other pairs? Simple. Go here to subscribe now and don't miss the next great trade! Go to: http://goo.gl/qRNGsF

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.

If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to: efxselect.com for more info.

Faceb00k: http://goo.gl/Mb81w7
Website: http://www.efxselect.com to subscribe

Go to efxselect.com to subscribe and get these signals in REAL-TIME!
SPECIAL Commodities $39.99/mo http://bit.ly/2AZWhx4
List of my ACTIVE Trades: http://bit.ly/2JkoaR3active
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.c
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out