GBPJPY S Trade Ideas
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. GBPJPY S (2 live positions)
D - Broken down out of rising wedge for a reversal. Potential to reach bottom of range around 124 level.
4HR - Currently in trade but looking for a nice rejection from the 4hr 50 ema and if it is broken to the upside with strong momentum then I will consider closing down the trade. But other than that, this is a longer-term hold. Current position is BE across 2 positions.
1 HR - 50 ema has broken to the upside but still holding anchor on 4hr.
15Min - looking at the bigger picture not zoomed into the 15min on this one. Will manage SL according to 50 EMA across bigger time frames.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 142/340 pips - very big pip spread.
Target: bottom of daily structure. The bottom (or start of) the previous ascending wedge pattern/rising wedge.
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. GBPJPY S (2 live positions)
D - Broken down out of rising wedge for a reversal. Potential to reach bottom of range around 124 level.
4HR - Currently in trade but looking for a nice rejection from the 4hr 50 ema and if it is broken to the upside with strong momentum then I will consider closing down the trade. But other than that, this is a longer-term hold. Current position is BE across 2 positions.
1 HR - 50 ema has broken to the upside but still holding anchor on 4hr.
15Min - looking at the bigger picture not zoomed into the 15min on this one. Will manage SL according to 50 EMA across bigger time frames.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 142/340 pips - very big pip spread.
Target: bottom of daily structure. The bottom (or start of) the previous ascending wedge pattern/rising wedge.