GBPJPY - Short Analysis
Updated
Bearish BAT
GJ is in the Golden zone and in a Potential Reversal Zone that can create a pull back with some nice amount of pips
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PRZ:
- BC: 1.618 Fib Ext
- ABCD: 1 Fib Ext (in the CD leg)
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1) Out of Bollinger Bands? YES (H2)
2) RSI divergence? YES (H2)
3) SR - GZ - TL - QP? YES (SR, GZ)
4) Rejection type? No
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- Entry Price: 136.000
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- SL: 60 pips (136.600)
- TP1 (at 38.2 Fib): 165 pips(134.550)
- TP2 (at 61.8 Fib): 255 pips (133.550)
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Wait for a Bearish confirmation ( Bearish Pin Bar , Double top , ...) to go SHORT
GJ is in the Golden zone and in a Potential Reversal Zone that can create a pull back with some nice amount of pips
|
PRZ:
- BC: 1.618 Fib Ext
- ABCD: 1 Fib Ext (in the CD leg)
|
1) Out of Bollinger Bands? YES (H2)
2) RSI divergence? YES (H2)
3) SR - GZ - TL - QP? YES (SR, GZ)
4) Rejection type? No
|
- Entry Price: 136.000
|
- SL: 60 pips (136.600)
- TP1 (at 38.2 Fib): 165 pips(134.550)
- TP2 (at 61.8 Fib): 255 pips (133.550)
|
Wait for a Bearish confirmation ( Bearish Pin Bar , Double top , ...) to go SHORT
Trade closed: target reached
TP 1 Reached
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