GBP/JPY start a middle term down trend
If follow previous short order strategy, possible getting about 300 points profit at this moment.
In long term (weekly) time frame, the price has touched the big up trend channel top line and start turning to south, "Stoch RSI" is at over buy level and crossing in weekly time frame.
It looks its next target could be the bottom line of the up channel. There would be about 2000 points profit room ideally.
Maybe apply proper Trailing Stop to protect your profit and keep your short order opening as long as possible. The ideally take profit time range could be in this year December.
In long term (weekly) time frame, the price has touched the big up trend channel top line and start turning to south, "Stoch RSI" is at over buy level and crossing in weekly time frame.
It looks its next target could be the bottom line of the up channel. There would be about 2000 points profit room ideally.
Maybe apply proper Trailing Stop to protect your profit and keep your short order opening as long as possible. The ideally take profit time range could be in this year December.
Comment:
Protect your open price as need.
Comment:
Getting 400 points profit now. Down trend confirmed.
Comment:
Protect your open price or consider a re-entry for short.
Order cancelled:
The market is turned to positive. The short strategy is not suitable at this moment. Cancel or close the short orders and waiting for further signals.