Shorting the GBPJPY On Resistance Confluence
Update: Target reached without entry, so i cancelled short for now..
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A potential short trade on multiple resistance levels:
-50-days SMA
-Main descending resistance for the bearish wave
-A cluster of horizontal resistance levels, more clear on the daily chart
Trade Safe, and Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
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A potential short trade on multiple resistance levels:
-50-days SMA
-Main descending resistance for the bearish wave
-A cluster of horizontal resistance levels, more clear on the daily chart
Trade Safe, and Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
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