GBP/JPY (1h chart): Swing of the Year!!!
5 Reasons why I'm anticipating a sell:
Should this trade play out as anticipated, there will be:
A break and re-test setup on the upward trendline
A sell setup on the downward trendline
A potential reverse at the pivotal support and resistance
Price is currently changing from uptrend to downtrend
Lastly, I'm anticipating a bearish reversal candlestick confirmation as confirmation for entry.
Risk:40 pips
Reward:560 pips
GBPJPY is a highly volatile pair with a lot of stop loss hunts, therefore being the reason why my stop loss is above 30pips!!!
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DR.Swing_Forex
Should this trade play out as anticipated, there will be:
A break and re-test setup on the upward trendline
A sell setup on the downward trendline
A potential reverse at the pivotal support and resistance
Price is currently changing from uptrend to downtrend
Lastly, I'm anticipating a bearish reversal candlestick confirmation as confirmation for entry.
Risk:40 pips
Reward:560 pips
GBPJPY is a highly volatile pair with a lot of stop loss hunts, therefore being the reason why my stop loss is above 30pips!!!
Please like if you agree with the idea and feel free to share your thoughts on this idea.
Please follow for more quality ideas!!!
DR.Swing_Forex