Short GBPJPY
First Trade of the year. Looking to short GJ from 184.150. Reason being is following the release of COT data post Xmas, we've seen an increase in Pound shorting and increase in Yen longs from commercial/institutional firms. To play this bias out from the data my area of interest is here.
Confluences:
Daily 50MA
KL
COT Data in favor
Alignment to USDJPY
Catch you later traders
Confluences:
Daily 50MA
KL
COT Data in favor
Alignment to USDJPY
Catch you later traders
Trade active
Note
Trade at +100, taken partials and letting the rest run.Trade closed manually
Trade ran a total of 140, took off 80% at 100 pips, closed the remainder at +30 (Break of Lower timeframe structure). I expected it to run deeper, but with the Nikkei surge in Asia today, GJ has now breached the high.
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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.