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tradafx
Sep 17, 2021 4:50 AM

Wait for a sell signal with GBPJPY Short

GBP/JPYOANDA

Description

H4 time frame.
Structure: Downtrend.
The price broke the key level of the uptrend.
After breaking the Key level, the price formed a consolidation zone from 150.800 - 151.600.
If the price breaks out of this consolidation zone, it is likely that the price will recover to 152.000. Here, if there is a reversal signal, it is possible to sell early.
If the price from the current accumulation area breaks below 150.800 then wait for the continuation candlestick signal to sell.
Profit target is the zone 149.000.
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Wish you all have a good trading day!
Comments
Ropfx_trading
Very good analysis
tradafx
@Ropfx, Thank you
Alphamoney870
great analysis! 152 should offer heavy resistance.
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