markuspd
Short

GBPJPY be ready to short at pinbar rejection at top of kumo

FX:GBPJPY   British Pound/Japanese Yen
84 0 5
Be ready to short on any pin bar reversal at top of cloud although there looks to be a short term sell entry currently forming with the current candle ( bearish engulfing ).
Comment: Take a look at the big picture and past bearish kumos the rejection patterns with this pair on the 1 hour tf they are very clear but always be ready for a breakout to the upside.
Comment: I recommend a small sell position now and a larger sell position if there is a pin bar rejection and cs is rejected from below cloud.
Comment: Sell the pullbacks from this position.
Comment: Waiting on a doji or reverse pinbar for a big sell signal.
Comment: Would not be a bad idea to take some profits now, price may exit the cloud and go up but I would still be looking for a pinbar reversal at that point as I wouldnt expect price to break this line of resistance around 131 280.
Comment: If cs breaks above cloud this is the signal for going long, but there is still a big possibility of reversal, watch the candles.
Comment: We have had a very short breakout from the cloud which did break through that resistance level, I am currently short, still anticipating a big move to the downside below the cloud.
Comment: Finally this trade is back in profit, hopefully now we will continue all the way down.
Not the way most of my trades play out usually I am out fast.
Most of this mornings profit opportunities I missed due to being away from the computer.
Trade closed manually: Made some small gains to make up for earlier losses on this trade.
Closed this trade not prepared to leave it overnight, might take a small sell position.
We are almost certainly on the way below the cloud.
Comment: Looks ominous for a big upmove on the daily.
Comment: We are going down below cloud my advise is wait for new candle below cloud and sell.

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