GBPJPY Bearish Engulfing Short Setup
In the 4H chart price has formed a bearish engulfing candle indicating the price might have been exhausted of the up move and is now being taken over by the bears. I entered a short at current price targeting at least the 0.618% retracement as TP. SL above 147.895
Safe trading guys!
Safe trading guys!
Trade active
Entered short at 147.780Note
We have a break on the bigger trendline! My target for this short will be at the area of the 61.8% retracement. Safe trades everyone!Note
Looking good so far for this shortNote
Looks like price is breaking through the 23.6% retracement. Will see how things develop from here. Trade still active and in good profits!Note
Price seemed to have formed a pinbar on the 1Hr indicating a further move downwards. Looking good!Note
Will take some profits once it reaches 144 area since there seems to be price accumulation happening there. Also a potential support level.Note
Looks like we're heading down finally. Will look to book some profits at the 38.2% Note
Bad US data that came out helped GbpJpy down! Good trade! Note
More opportunities to join in the short train if this trendline below breaks. Good luck! Trade closed: target reached
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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.