GBPJPY (Update)_4th Week of Aug 2021
Price is currently retest at the key level (Potentially forming a double top)
We would like to monitor if the price may reverse significantly from the area by looking on overall price pattern at that level together with a break of trendline to confirm on our Short bias
There are possibly 2 trendlines to watch, first trendline shall be the first entry, if the market move according to what is expected, the 2nd one will be an area to scale up a position
Important note to me and to my dear friends:
*There is no right or wrong setup, the important is a need to understand on how to manage our trade by knowing:
1. When to exit from the market when the price didn't go to our direction
2. When to hold and scale our trade if the price is in favor to our direction
3. When to secure our profit
* In trading the market, is either we make a large profit, small profit or we breakeven
Cheers!
We would like to monitor if the price may reverse significantly from the area by looking on overall price pattern at that level together with a break of trendline to confirm on our Short bias
There are possibly 2 trendlines to watch, first trendline shall be the first entry, if the market move according to what is expected, the 2nd one will be an area to scale up a position
Important note to me and to my dear friends:
*There is no right or wrong setup, the important is a need to understand on how to manage our trade by knowing:
1. When to exit from the market when the price didn't go to our direction
2. When to hold and scale our trade if the price is in favor to our direction
3. When to secure our profit
* In trading the market, is either we make a large profit, small profit or we breakeven
Cheers!