FullTimeTrader

GPBJPY-quick short setup-convergence divergence

Short
FX:GBPJPY   British Pound / Japanese Yen
8
Hello, this is a quick setup to scalp some pips using convergence-divergence setup.
On H4 chart we see a convergence, price is now doing a pullback

Here on H1 chart price is ready to test the trendline, my prefered level to entry is the 0.61 fib, just at tha resistance level.

I will place a sell order limite there

1st. target: last lows
2nd. target: 1.27 fib projection

Regards.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.