GBPJPY: Short term sell idea

GBPJPY: What I am waiting for here is a break and retest of this 151.400 area, additionally, I will look for any bearish candlestick pattern to confirm my entry and I might use the Fib to determine if this is a valid trade and also to determine my take profit zones.

Transaction en cours:

GBPJPY update: Currently 35 pips in profit. No signs of reversal thus far. I will let this trade run until my TP is hit or I have a change of heart based on specific technical and fundamental analysis.

Remember, never be married to your analysis. Trust the process, trust your analysis but think and make clear trading decisions.

Transaction en cours:

GBPJPY update: Currently 230 pips in profit, TP has not been hit but depending on what happens today during NY session, I will close my trade. I will not let this trade run over the weekend as I feel that 230 pips in 5 days is okay lol.

Take care traders.

Commentaire:

GBPJPY update: TP was not hit but it was set very low. Nevertheless, well above 230 pips for the week. I manually closed my entire position on Friday 20 Aug 2021 right after the NY Open. Also, I saw some rejection candles forming on the 1hour. In retrospect, I guess I made the right call