Bearish Divergence
Hi people,
GBP/JPY has been forming bearish divergencies in multiple time frames, In m y opinion the pairs haven't reversed yet because of the bad news from Japan last week.
I believe we will see a retracement really soon, I have entered a short position at 174.310, but the price might push to the 175 mark, where there is a strong resistance at that level.
I have placed a limit buy at 175 with half of my entry size, to average my entry. just in case the price hits there.
I have placed an entry earlier because I didn't want to loose the trade just in case.
What are your thoughts?
Peace out
GBP/JPY has been forming bearish divergencies in multiple time frames, In m y opinion the pairs haven't reversed yet because of the bad news from Japan last week.
I believe we will see a retracement really soon, I have entered a short position at 174.310, but the price might push to the 175 mark, where there is a strong resistance at that level.
I have placed a limit buy at 175 with half of my entry size, to average my entry. just in case the price hits there.
I have placed an entry earlier because I didn't want to loose the trade just in case.
What are your thoughts?
Peace out
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