PriceActionTrading
Short

GBPJPY SHORT (AGAIN) NOW AT GOOD BARGIN

FX:GBPJPY   British Pound/Japanese Yen
357 21 7
SHORTING NOW FOR GOOD 30 PIPS SL.
BASIS FOR SHORTING IT IS SIMILAR TO MY PREVIOUS IDEA.

THIS IS ALSO THE DEFINITION OF GETTING BACK AT THE MARKET.
THIS IS MY SECOND ATTEMPT ON SHORTING THIS.
PRICE HAS ALSO MET WITH RESISTANCE AT THE D1 SMA .
THIS TRADE HAS GOOD RISK REWARD AS I WAS ABLE TO GET IN AT 177.95.

NOT SAYING THAT THIS IS A SURE WIN TRADE. BUT I HAVE REASON TO BELIEVE GBPJPY             IS BEARISH BASED ON TECHNICAL ANALYSIS .

D1 CHART FOR REFERENCE
snapshot

SUBSCRIBE COMMENT AND LIKE MY IDEA IF YOU AGREE OR DISAGREE.
SORRY I WAS RUSHING THE DESCRIPTION AS I WANTED TO SHOW I WAS ABLE TO GET IN AT 177.95.
ANYWAYS. BREAK OF THE SUPPORT LINE INDICATED WILL PRODUCE THE DOWNWARDS PRESSURE WE ARE WAITING FOR.
LOOKING AT MY D1 CHART YOU CAN SEE THAT IT IS ROUGHLY 61.8% FIB RETRACEMENT. GOOD PLACE TO SHORT INTO MAIN TREND.
IF PRICE MANAGES TO GO BELOW THE D1 20SMA, PRICE MAY GO DOWN QUICK.
LETS HOPE FOR THE BEST.
SL AT 30 PIPS ABOVE 178.00 OR IF H4 MANAGES TO CLOSE ABOVE 178.00 TWICE.

COMMENT AND LIKE MY IDEA IF YOU AGREE.
IT MOTIVATES ME TO PROVIDE MY IDEAS HERE AT TRADINGVIEW.
WONDERFUL PLATFORM.
Reply
crossmxn PriceActionTrading
2 years ago
watch our for GBP news in 45 minutes
+1 Reply
PriceActionTrading crossmxn
2 years ago
thanks for heads up. looks like another trade this week that could be stopped out due to volatility -.-
Reply
crossmxn PriceActionTrading
2 years ago
Watch GBPNZD
snapshot
Reply
PriceActionTrading crossmxn
2 years ago
Somehow. Looking at your GBPNZD does not makes me feel any better regarding this GBPJPY trade... Because it looks like there is room for upward bounce... Downwards wedging pattern. Potential for either side breakout.
+1 Reply
crossmxn PriceActionTrading
2 years ago
Price is just in a weekly support, im looking for good news to buy GBPNZD, 20 minutes left
Reply
crossmxn crossmxn
2 years ago
or bad news and go short
Reply
crossmxn crossmxn
2 years ago
snapshot
Reply
PriceActionTrading crossmxn
2 years ago
If GBPNZD goes up GBPJPY will follow suit. Well.. Good luck mate. I am not one to advise on crosses as i try not to trade crosses. So. good luck mate.
Reply
crossmxn PriceActionTrading
2 years ago
thanks, news in 14 :) :)
Reply
PriceActionTrading crossmxn
2 years ago
This is how i see GBPNZD if i have to give my view about it.
Hope it helps
snapshot
+1 Reply
PriceActionTrading PriceActionTrading
2 years ago
If you look at that chart i attached.
You could see an inverted cup and handle pattern. Not very recognised. But a downward break of the main support line would verify the cup and handle.
+1 Reply
pete_hef
2 years ago
I will wait until price broke atleast under (my) daily pivot line at 177.419
Reply
PriceActionTrading pete_hef
2 years ago
Conservative side. That is always good.
+1 Reply
IT DID CLOSE ABOVE 178.00. GUESS GBPJPY WILL NEVER WORK FOR ME. MUST BE NEWS DRIVING THIS PAIR BEYOND MOST EXPECTATION.
Reply
IvanLabrie TOP PriceActionTrading
2 years ago
It's in a very large and complex correction is my take...that's why it's defying our analysis.
Crude is driving this yen weakness probably, look at its chart.
I'll try to find shorter term opportunities while the crazyness endures.
+1 Reply
PriceActionTrading IvanLabrie
2 years ago
I will wait for this craziness to end first before doing anything else. Stopped out twice in a row GBPJPY. Good luck mate.
Reply
IvanLabrie TOP PriceActionTrading
2 years ago
I'm looking at euraud and gbpaud for shorts, the former seems safer though.
Reply
PriceActionTrading IvanLabrie
2 years ago
Price seems to be going down now... after stopping me out.. Yes. shorting the EURAUD at 1.4 seems perfect (for now).
Reply
IvanLabrie TOP PriceActionTrading
2 years ago
I'll try 0.5% here and reshort gbpjpy with 0.5% risk as well.
Reply
PriceActionTrading IvanLabrie
2 years ago
Yea it probably is finally working after i gave up on it. GBPUSD seems nice too. d1 50sma acting as resistance.
Reply
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