Last week, I mentioned that I was watching both GBPJPY and EURJPY closely, as a strong drop could be just around the corner.
Given its higher volatility, I chose to open a short on GBPJPY, which I closed Friday with a negligible profit after the pair reversed once more from just under 199.
Despite that, my overall outlook hasn’t changed – in fact, it has been reinforced by yet another failed attempt to conquer the 200 zone.
📌 Trading Plan:
- I’m looking to re-enter short on GBPJPY.
- My initial target remains the 195 zone.
- Confirmation: A daily close under 199 would signal that a top is likely in place.
- Negation: If the market stabilizes above 200, this bearish scenario is off the table.
In other words, GBPJPY is at a critical juncture – either it confirms the top and accelerates lower, or the 200 level finally gives way.
That being said, I’m prepared for the short side. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Given its higher volatility, I chose to open a short on GBPJPY, which I closed Friday with a negligible profit after the pair reversed once more from just under 199.
Despite that, my overall outlook hasn’t changed – in fact, it has been reinforced by yet another failed attempt to conquer the 200 zone.
📌 Trading Plan:
- I’m looking to re-enter short on GBPJPY.
- My initial target remains the 195 zone.
- Confirmation: A daily close under 199 would signal that a top is likely in place.
- Negation: If the market stabilizes above 200, this bearish scenario is off the table.
In other words, GBPJPY is at a critical juncture – either it confirms the top and accelerates lower, or the 200 level finally gives way.
That being said, I’m prepared for the short side. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.