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winnie144
Dec 17, 2018 9:56 AM

Shorting From Retracement Short

British Pound/Japanese YenFXCM

Description

GBPJPY failed to breakout from the zone making three tops that provide sufficient resistance.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one more move down to the nearest structure approved by potential trend reversal and weekly timeframe confirmation.

Comment

Very nice trade outcome = excellent one goood trade
Comments
meszaros
Fantastic trade analysis. Precise, and very accurate. Congratulations.
Happy New Year !
winnie144
@meszaros, Thank you very much. I really appreciate. Happy New Year to you as well, all the best and many pips! :)
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