PriceActionTrading
Short

GBPJPY PLAYING THE TRIANGLE

FX:GBPJPY   British Pound/Japanese Yen
193 11 8
KILL ZONE

ENTRY AT 181.00
W1 20SMA
61.8%
DESCENDING TRIANGLE FORMATION


THIS IS A W1 TRADE. SO LOOK AT D1 FOR VIABLE PRICE ENTRY CONFIRMATION.
ALSO GIVE SOME SLACK TO YOUR STOP, GBP JUST MOVED 100PIPS IN 1 HOUR.
REQUIRES CONFIRMATION TO TRADE THIS ONE AS IT IS NOT WISE TO SELL A PAIR WHICH HAS CLIMBED 600 - 700 PIPS IN 2 WEEKS.
THIS GBP STRENGTH COULD, OF COURSE, CAUSE THE PAIR TO BREAK OUT OF THE TRIANGLE WITHOUT HESITATION. IT HAS ALREADY STOPPED ME OUT OF MY GBPUSD             THOUGH I HAVE RELIABLE SIGNAL TO SELL IT. SO NOTHING IS IMPOSSIBLE. DO YOUR OWN HOMEWORK AND TRADE WITH CAUTION.

SUBSCRIBE COMMENT AND LIKE MY IDEAS IF YOU AGREE OR DISAGREE.
Great Analysis...
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I'm targeting the same price, but my entry was a bit earlier..
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Well, "earlier" has various definition in trading. My target may never get hit, then i would consider you lucky not early. As long as planning was done, stop loss and risk is acceptable when you place that trade, all is fine.
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Yahia.Awes PriceActionTrading
I'm long from 180 area so not that early lol.. I've posted my chart also you might check it on my profile.
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SunnyBTC PRO Yahia.Awes
snapshot


Should be a good low risk short entry around 181.28 or more risky is around 181.04
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That is true. If we can get that price i think that it is definitely worth the risk.
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Yahia.Awes Yahia.Awes
Short sorry..
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Definitely something to monitor.
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Ya same here. GBPJPY pair has given me some problems as well. Let's see how this plays out. Looking forward to updates on this by you. Good luck :)
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Hi Price, I took a week off, but I'm back :P here are my lines

Weekly
snapshot


Zoom to Daily
snapshot
Reply
Nice chart as always.
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