Shorting From Retracement
Updated
GBPJPY failed to breakout from the zone making three tops that provide sufficient resistance.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one more move down to the nearest structure approved by potential trend reversal and weekly timeframe confirmation.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one more move down to the nearest structure approved by potential trend reversal and weekly timeframe confirmation.
Note
Very nice trade outcome = excellent one goood trade
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