Potential Scenario for a short on the GBPJPY

21 févr. 2016

The scenario I have drawn up could be a potential scenario for a short trade, although this could only occur if the trend rejects the upper trend line highlighted in orange, only then we can short 3 times at roughly the same quantity, personally I would enter these three trades at 162.227. My first take profit would be my pivot point, my second take profit would be between my resistance and my pivot point (highlighted in purple) and my third take profit would be my resistance. I would also set a stop loss at 160.179.

Please feel free to leave ideas and comments below, many thanks.