AntenaPips
Short

Some retracement can be expected yet.

FX:GBPJPY   British Pound/Japanese Yen
57 6 0
#forex #gbpjpy
dojitrader
2 years ago
Just to clarity . . .
The entry is at the current descending trend line and the
stop is at the dotted line ?
Or wait for a retracement to the higher down trend line ?
Reply
AntenaPips
2 years ago
There's no valid entry for now. The two times for entry was triggered already. The valid entry (MY OPINION): 1 -after the breakout of the trendline. 2 - hen re-test the broken trendline, wait for one valid reversal candlestick pattern to do it.

Good trades to you! :)
Reply
dojitrader AntenaPips
2 years ago
OK ! So you're basing this trade on the "ascending" trend line
and the stops would go at or above the dotted line, right ?
Reply
AntenaPips dojitrader
2 years ago
1st trade is based on the breakout of this trendline. 1st stop if one candle CLOSE above the top (dotted line). 2nd entry is based on retraction of this breakout movement. Wait one strong bearish candlestick pattern, normally between 50.% and 61.8 of fibonacci. The stop can be at top (use close value), above this strong pattern or at 86.48% of fibonacci from last bearish rally. There's no exactly setup. Every trade have yourself sentiment, because if you strong candle (with strong volume) break this actual bearish channel, i can will close this trade.

Good trades to you, dojitrader!
Reply
ForceFollower
2 years ago
I don't know. It just feels bullish, as if it wanted to retest those highs very soon. And if it does it, without retracing to 0.382, it is even likely to make new highs.
Reply
AntenaPips ForceFollower
2 years ago
Yes, possible. 0382 will be the target to do partial profit and the point to move the stop to breakeven. I hope this be triggered. Thank's for your comment, ForceFollower adn dojitrader.

Good trades to all you!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out