GBPJPY - Short

Shorting at a very important resistance level, big amount of sell orders here.

Small risk, high profit.

SL : 139.963
Entry : 139.850
TP 1 : 139.553
TP 2 : 138.165

Trade active

Position entered

Note

Doubled my position, trade looks solid to me

70% Tp 1
30% Tp 2

Note

Resistance has done extremely well, however, bulls have been damaging it a lot, it lost 40% of the orders in the last attack, bulls appear to have backup orders at 139.900 in case it goes wrong

There seems to be a very big hidden buyer which has been able to compete with a ton of retail sellers at 139.850...

Note

Correction : Bears appear to have backup orders at 139.900, however it may be a bear trap. We can't be sure until the price has been touched

Note

A huge hidden order is located @ 139.798, if we are able to go below this level price will most prob drop in free fall until first TP

Note

Everyone is bullish EXCEPT US! Is that good?
Well checking the order book, around 4% of ll net positions are long here, which means, a bad move will activate all those stop losses and colapse the price... If so RIP bulls, this might just have become a bull trap...

Trade active

As I said, bad move happened... RIP Bulls

Note

Move stop loss @ 139.900, resistance is completely destroyed after that huge buy order, we still in the trade but must be safe!

Trade closed: target reached

Clear bull trap! Money in the pocket.

EmilianoMesa

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

EmilianoMesa

Also on: