FOREXEL
Long

GBPJPY - Waiting for a bounce in a tricky trade

FX:GBPJPY   British Pound / Japanese Yen
148 4 10
A Bearish Divergence in full action on the weekly TF which have have taken down the Pound from the 180.00 area down to the 55 MA and testing the channel support near 170.00 major psychological level. It is a bit dangerous to trade against the Yen right now but the uptrend is still intact and I think there are a few Bulls waiting at this price level. A wide SL is definately needed but the TP is awesome so I will close my eyes and jump in!! Happy trading
are you in already ? or do you wait till 168.633 according to your chart, or may be i misunderstand ?
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FOREXEL pmks1
No you are correct, I will wait a little for the price to drop some more and then jump in
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pmks1 FOREXEL
Thanks for quick feed back. I appreciate your charts a lot.
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FOREXEL pmks1
Anytime )
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