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
SUBSCRIBE COMMENT AND LIKE MY IDEA IF YOU AGREE OR DISAGREE.
IT DID CLOSE ABOVE 178.00. GUESS GBPJPY WILL NEVER WORK FOR ME. MUST BE NEWS DRIVING THIS PAIR BEYOND MOST EXPECTATION.
IvanLabrie
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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.
PriceActionTrading
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I will wait for this craziness to end first before doing anything else. Stopped out twice in a row GBPJPY. Good luck mate.
IvanLabrie
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I'm looking at euraud and gbpaud for shorts, the former seems safer though.
PriceActionTrading
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Price seems to be going down now... after stopping me out.. Yes. shorting the EURAUD at 1.4 seems perfect (for now).
IvanLabrie
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I'll try 0.5% here and reshort gbpjpy with 0.5% risk as well.
PriceActionTrading
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Yea it probably is finally working after i gave up on it. GBPUSD seems nice too. d1 50sma acting as resistance.
pete_hef
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I will wait until price broke atleast under (my) daily pivot line at 177.419
PriceActionTrading
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Conservative side. That is always good.
PriceActionTrading
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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.