Short opportunity is developing on #GBPJPY, #FOREX.

FX:GBPJPY   British Pound/Japanese Yen
174.25 is an area where short opportunities should appear. Only, In case that the trade materializes, the potential P/T s are retest of the previous low, 168.45 and then 166 level. Trading above 175.60 negates this idea.
Luckily the sells didn't trigger this time...I was waiting for a drop below the highest low as well.
+1 Reply
Yes the sell didn't triggered, and I cancelled the order. Now should wait for pull back and look for long set ups._Hamed
IvanLabrie PRO HamedAghajani
I had a a sell and a buy stop ready but only in my demo acct...Was pretty shocked to find that spike today. I did learn that I'll start hedging all my real trades as well.
Hedging is tricky some times. I think you need to develop strict set of rules on demo, and prove them profitable. Then apply them to your real account. This requires lots of concentration. Good luck, Hamed