GBPJPY 4H TREND STRATEGY
Updated
GBPJPY
Been waiting a few weeks for the current uptrend to show signs of fatigue.
Two very important MAs for this pair have crossed confirming that the top has been found IMO.
Price has now tested MA20 as resistance below the MA50
Setup for Short order will be after current 4H closes bearish.
SL set to top of previous 4H candle 145.746 + Spread
TP when price passes back above MA20 and holds above
Linked to this idea is also a similar potential set up for USDJPY over the new few days.
Been waiting a few weeks for the current uptrend to show signs of fatigue.
Two very important MAs for this pair have crossed confirming that the top has been found IMO.
Price has now tested MA20 as resistance below the MA50
Setup for Short order will be after current 4H closes bearish.
SL set to top of previous 4H candle 145.746 + Spread
TP when price passes back above MA20 and holds above
Linked to this idea is also a similar potential set up for USDJPY over the new few days.
Note
10:00 (GMT) - Short 145.2134H candle closed Bearish
Entry setup is complete
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