GBPJPY
I am looking to sell GBJPY due to my bias toward the yen/gold/silver going up and being stable due to so much uncertainty with the US election and the possibility that Biden has won the election which means a much more expensive stimulus which will devalue the dollar and people will run to safe-haven assets. My chart is saying something interesting to me looking at the ascending channel it has created with it now being the 4th touch the "strongest" touch on the 1HR timeframe. I normally don't place traders on such small time frames but my 4HR/8HR/12HR charts all have a similar bias to with it being bearish. Risk reward is fairly good with it having a 1:2 Ratio. stop losses above the 1st touch the recent "high" if you like. And targets at the bottom of the channel with 80& profit. I also will be taking profit along the way to secure some of my position since we are in such risky times. Feel free to agree or disagree I'm keen to hear what people are thinking during a volatile time.
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