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Gbpjpyshorts

GBPJPY SWING SHORTA) WEEKLY 1. Price reached important point of decision on weekly chart; descending weekly trendline. 2. In the end of May, price respected previous highest resistance that was made on Jan 2018 and failed to break the resistance, thus made a reversal. B) DAILY 1. Price made a beautiful daily ascending channel as a sign of correction before any impulsive move on the daily chart. 2. Price moved in range for few weeks already inside the correction channel. 3. However, in the end of September, last week price broke the channel as a good sign to place a swing short. C) PLAN 1. Wait for the price to at least retest on the previous resistance or the weekly descending trendline. 2. If the price continue to drop, wait till it break the previous support and the place short. 3. Plan is invalid if the price break the HNS pattern or break the weekly descending trendline.
Short
by LouisElo
GBPJPY short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
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