GBPJPY SHOWING A GOOD DOWN MOVE WITH 1:5 RISK REWARD GBPJPY SHOWING A GOOD DOWN MOVE WITH 1:5 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Gbpjpydaily
GBPJPY Channel FormationSell GBPJPY
Things to consider:
1. Channel formation on daily timeframe
2. According to COT data GBP is Neutral and JPY is shortening
3. Down Momentum Started
How to enter:
1. Sat and Sun is off so entry will be done on Monday
2. SL - 152.6 TP - 150
3. Follow my analysis
ALL THE BEST!
Weekly Forecast GBPJPY (11th May to 15th May 2020)The 4 hour right is down against 12/13/2019 peak (147.93) & shows a bearish sequence. 1 hour is turning down against 135.46 high. Near-term, while bounces fail below 135.46 high and more importantly below 147.93 high expect pair to extend lower.
Short GBPJPY
@133.133.50
Target 1- 130.50
Target2- 128.00
Sl: 134.00
Good luck !