GBPJPY SHORT
GBPJPY has currently stalled and faced rejection after breaking the Intermediate Trend line on the 4H. GBJPY remains in a longer term up trend shown by the Weekly SMA sloping upwards. But it is currently facing downward pressure.
With the FIb retracements at the 0.5 to 0.618 region and price currently breaking below its 24EMA ON THE 4h. The downward move may have started and we may reach the 192-193 region before resuming the daily uptrend.
With the FIb retracements at the 0.5 to 0.618 region and price currently breaking below its 24EMA ON THE 4h. The downward move may have started and we may reach the 192-193 region before resuming the daily uptrend.
Trade closed: target reached
Congratulations to those who took this Trade we are swimming in Profit!Note
We will now be waiting for a LH to be set up on this DownTrend, GBPJPY is likely to retrace upto the 195-195.5 or even 196 regions. We do not trade counter trend moves however and will wait for our LH to short this asset.
Rest assured I will provide the correct entry with confirmation as we do not predict what the market will do but react to what it is doing
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.
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.