Short GBPJPY: ntry: 147.105 SL: 147.85 TP1: 144.850 TP2: 143.5
After a strong rally upwards, we see a divergence between momentum and price. RSI (21) has also crossed into the bearish territory below the 50% level.
Shortly after which, market broke below the ascending trendline support (now resistance).
Price has also closed below EMA (34) which has acted as a pretty solid support/resistance for GBPJPY
Trade active
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Trade is now risk free. Stop loss has been trailed to protect profits at 146.850
Comment
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Moved trailing stop lower to further protect profits.
Comment
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1st Target reached. Scaled out to lock in profits.