wolfstreetswinger
Short

GBPJPY - Bearish Wolfe

FX:GBPJPY   British Pound / Japanese Yen
314 views
8
314 7
GU looking strong but there's no change in structure yet, we are still playing in this channel and there's every chance for bearish wolfe to take us back down to around the 141 area.
Trade active: short triggered
I WOULD RISK THTA EITHER MAT ETO BE HONES T I WENT LONG
DAILY CHART WAS ROARING BULL IT BROKE 200MA LIKE MAD A BIT OF A LATE BULLISH ENERY FOR ME BUT AFTER A HORT PULLBACK ON THE 15 MINS I AM A CERTAIN LONGY MATE
A FEW TIP AND THINGS TO LOOK OUT FOR IN THE FUTURE
CONTACT ME TO EXCHANGE IDEAS AND HELP ONE ANOTHER YOU MIGHT BE REALLY GOOD AT MANY OTHER STRATEGIES
+1 Reply
@Jefmal93, HI YES I DO BELIEVE WE ARE IN UPTREND MATE I HAVE BEEN PAYING ATTENTION TO THE RED ARE ON MY CHART WHICH ARE THE POST BREXIT HIGHS WHICH WE HAVE NOW BROKE AND HELD FOR ME THIS CONFIRMS THE UPTREND BUT AS OF YET THERE IS NO CHANGE IN THE STRUCTURE WERE STILL WITHIN THIS CHANNEL RSI IS OVERSOLD WITH BEARISH DIVERGENCE ON THE DAILY IF WE CARRY ON UP FROM HERE YOUR LONG COULD STILL BOUNCE OFF THE TOP OF THE CHANNEL AND COME DOWN WE HAVE CONFIRMED UPTREND SO THERE'S EVERY CHANCE OF A PULLBACK SOON
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wolfstreetswinger wolfstreetswinger
APOLOGIES NOT OVERSOLD, I MEAN OVERBOUGHT
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@Jefmal93, BUT HEY I DON'T MISJUDGE YOUR LONG ENTRY BUDDY I DO BELIEVE WE ARE IN UPTREND LIKE I MENTIONED IT MIGHT WORK WELL BOUNCING OFF THE 50MA THERE ON THE HOUR BUT FOR ME MOMENTUM LOOKS TO BE WEAKENING AND I'M NOT TOO KEEN ON GOING LONG WHEN WE ARE HIGHLY OVERBOUGHT ON THE DAILY WITH NEGATIVE DIVERGENCE PERSONALLY FROM CURRENT POSITION I WOULD LIKE A CHANGE IN STRUCTURE AND GOOD PULLBACK, IF WE GET THE PULLBACK THEN THIS IS THE TIME FOR ME TO HAMMER LONG AS THIS SHOULD THEN BE THE START OF WAVE 3.
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wolfstreetswinger wolfstreetswinger
AND BY PULLBACK I DON'T MEAN JUST ANOTHER MOVE TO THE BOTTOM OF THE CHANNEL IF WE COME DOWN AND BOUNCE FROM THERE THAT WOULD JUST BE A SHORT TERM LONG FOR ME
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Good luck with that buddy I would handle that view with GREAT caution, but all the best to you in the raging bull market. God bless.
+1 Reply
@kenfxfreak, lol i know the risk wouldn't be entering without a break of support around 143 area as it happens price hasn't been dragged back getting held above 144.270 isn't good for me on this trade
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