piphunters
Short

GBPJPY: Short setup

FX:GBPJPY   British Pound/Japanese Yen
1767 23 41
The pair is in a corrective structure and currently at the top of the trend line where a bounce is expected giving us a good opportunity to go short and expect another break down which would give us a huge downside in the matter of few days!
Comment:
GBPJPY: Impulse down
Comment: next short opportunity
Hi , which level must be broken leading to that huge downside??, you say 162.488?, thanks !
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161
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thanks !
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my pleasure
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Nice, I have been keeping an eye on this.
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hope you got on
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I support your view but I can still see a clear head & shoulders pattern, which makes the trend confusing. How do you suggest about this pattern?
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piphunters fOREXeCHO
sorry I don't trade that pattern so can't suggest about it
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blackeagle piphunters
Not trading a pattern does not deny its existence. Switch to daily chart and look carefully. You'll see an inverse head and shoulder which is a reversal pattern.
And a close today above 161.90 is a bullish confirmation and gives 173.60 target.
+1 Reply
piphunters blackeagle
didn't say it don't exist or won't work, everybody has different methods so what you see I may not see, simply said since I never traded I can't give an opinion on something I am not using :)
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I'm already in it since the opening of the market. Of course the price first had to first move 100 pips higher.
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great. clean charts are awesome!
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piphunters ChrismasFX
thanks!
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Gr8 analysis. Trade is on...Many thanks..
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my pleasure mate
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sir..thank u very much for this great idea...... cleanest chart i have ever seen ..u r a great trader...thank u very much.....God will be with u .
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thank you!
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Gr8 call PH..many thanx..
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you are welcome
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Dps piphunters
159.41...what next?
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154-152
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Dps piphunters
thanx PH..will hold my position..gr8 work..
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hello,
I have asked this on another chart but I d like to ask you too..

this is a question to learn,

Ok it broke down the channel, everything goes awesome..

but how about if the market turns against the chart? where do you put your SL after this break out?

For instance today my SL was 160.40 and I entered short gbpjpy

I will not wait until price reaches 160.40 of course, to me, if it get 160. it will definetely hit 160.40 and no need to wait. so rather than let my stop at 160.4 i better put on 160.

or likewise, if price falls to154.0 this weeks I could move my SL to 155.5

so how do you decide/update your SL point after huge break outs?
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