ddreamz
Short

GBP/JPY big short coming in

FX:GBPJPY   British Pound / Japanese Yen
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5
188 0
Hi,

This pair will be on the watching list for the next week. I will be looking to short this if I get a test around 148.00.
The entries will be based on a smaller time frames since I don't usually use that big stop losses but I see a huge sell coming in here with targets around the weekly lows.

- Price at weekly resistance
- Daily buyers fading
Possible scenarios of this trade:
- Retest 148.00 and hold below it before the drop
- Slow retest of the highs and then drop .
Mar 26
Comment: The price is now testing the highs. I am still standing buy.
The buying momentum looks too strong so far. I will wait to see if it reflects the recent breach starting point around 150.00.

Mar 27
Comment: I am in.
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