GBPJPY Short Trade Idea
I'm Already in a short on GBPJPY with the following setup:
Entry: 191.592
Stop Loss (SL): 191.930
Take Profit (TP): 190.032
Trade Rationale:
The price action on GBPJPY has shown signs of bearish pressure, suggesting a potential reversal as the pair approaches key resistance levels. This setup is based on technical analysis signals, including a confluence of resistance and a weakening momentum in the GBP versus the JPY. The stop loss is strategically placed just above the resistance area, while the take profit targets a critical support level, offering a favorable risk-to-reward ratio.
Strategy Considerations:
Risk Management: Tight SL placement helps contain potential losses if the market briefly moves against the trade.
Market Monitoring: Look for confirmation signals at the entry point and keep an eye on overall market sentiment, particularly any news impacting GBP or JPY.
This short setup aims to capitalize on a brief correction in GBPJPY, and I'll be closely monitoring price action for any signs of a reversal or increased volatility.
Happy trading!
Entry: 191.592
Stop Loss (SL): 191.930
Take Profit (TP): 190.032
Trade Rationale:
The price action on GBPJPY has shown signs of bearish pressure, suggesting a potential reversal as the pair approaches key resistance levels. This setup is based on technical analysis signals, including a confluence of resistance and a weakening momentum in the GBP versus the JPY. The stop loss is strategically placed just above the resistance area, while the take profit targets a critical support level, offering a favorable risk-to-reward ratio.
Strategy Considerations:
Risk Management: Tight SL placement helps contain potential losses if the market briefly moves against the trade.
Market Monitoring: Look for confirmation signals at the entry point and keep an eye on overall market sentiment, particularly any news impacting GBP or JPY.
This short setup aims to capitalize on a brief correction in GBPJPY, and I'll be closely monitoring price action for any signs of a reversal or increased volatility.
Happy trading!
Trade closed manually
i have exited this trade at 11"30 AM newyork timeNote
Target hit 
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