Trade Idea: Potential short for+/- 130pips setting up on #GBPJPY
It is the 4th day of 2021 and the #GBPJPY is eager to show intention.
Very high volumes of supply started to enter the market on 31 December 2020.
Selling pressure mounted on 4 January 2021 during the Asian session.
With all the weakness present and after having taking out the high
that was formed on 24 December 2020, price is now showing willingness to move lower.
The first of 3 confirmation criteria for a short is now in place (see red arrow on chart).
However, before short side continuation, price might first test the 141.10 area.
See chart area for potential entry, stop and target levels.
Happy trading and good fortune
ps. follow us @analytixcm to see real-time trade management
Very high volumes of supply started to enter the market on 31 December 2020.
Selling pressure mounted on 4 January 2021 during the Asian session.
With all the weakness present and after having taking out the high
that was formed on 24 December 2020, price is now showing willingness to move lower.
The first of 3 confirmation criteria for a short is now in place (see red arrow on chart).
However, before short side continuation, price might first test the 141.10 area.
See chart area for potential entry, stop and target levels.
Happy trading and good fortune
ps. follow us @analytixcm to see real-time trade management
Transaction en cours
Second confirmation criteria in place. Short portfolio active. See chart for target trade management levels.Trade fermée manuellement
Short portfolio closed for +143 pips. For detailed live trade management of this portfolio see more @analytixcm.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.