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: next short opportunity
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?
Gr8 call PH..many thanx..
+1 Reply
you are welcome
Dps piphunters
159.41...what next?
Dps piphunters
thanx PH..will hold my position..gr8 work..
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 .
+1 Reply
thank you!
Gr8 analysis. Trade is on...Many thanks..
+1 Reply
my pleasure mate
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