GBPJPY: SHORT SETUP Trade I made at 6:00AM (GMT) and forgot to post Anyone who wants to follow can get in whilst price is close to original entry price Keep SL at original setting.
Follows a basic MA trend following strategy where entry is based on either a support or resistance MA20 test. Also I tend to enter on the same test of the MA50 after the 1st cross price makes, with indications that the fast MA20 will cross to correct side of slow MA50 for short/long positions.
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SL hit during Asian market. Price has now tested Fast MA20 and currently closing 4H candle (6:00-10:00 GMT) below both MA20 and MA50
Renterering short position if 4H candle (10:00-2:00 GMT) closes bearish. SL will be placed at high of 6:00-10:00 candle @ 144.100
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Also entering on 5Min head&shoulder formation which is currently breaking neckline @143.750 with SL @144.100
Price has now tested Fast MA20 and currently closing 4H candle (6:00-10:00 GMT) below both MA20 and MA50
Renterering short position if 4H candle (10:00-2:00 GMT) closes bearish.
SL will be placed at high of 6:00-10:00 candle @ 144.100