jojofang0901
Short

GBPJPY BREAK AND RETEST TRADE SETUP

FX:GBPJPY   Britisches Pfund / Japanischer Yen
780 0 16
Hi everyone:

Here is my view on GBPJPY             SHORT, Any type of feedback is greatly appreciated it. Thank you

Trade: #12
Date: 12/20/2016
Time: 03:00 GMT            
Forex Pair/Commodity: GBPJPY            
Position: SHORT (SELL)
Reward/Risk: 4:1
Opportunity:

Weekly: Hit 50 EMA ,weekly 0.618 fibs retracement and a strong resistance zone around 146.50~148.00, a pullback is needed
Daily: Over extended run to the upside, formed doji candle, then bear engulfing , breaking down the support trend line
4 Hour: Break down 20/50 EMA and support trend line , now retested the same resistance zone with 50 EMA
1 Hour: Break down short term support trend line , and 20/50 EMA . Now price has retested back to main pivot point , 0.318 fibs retracement, and 20 EMA

Looking to take this pair to daily strong horizontal support zone 140.00, 50 EMA , and 0.382 fibs
retracement for roughly 4:1 reward risk ratio.

Thank you for your support
Kommentar: Here are the Weekly, Daily, and 4 HR Charts:
Kommentar: Price has now drop to 144.56, roughly 100 PIPS, given me 1.2% in profit. Move my stop loss to break even @145.55.
Kommentar: Move stop loss to 1% profit @144.75
Trade geschlossen: Ziel wurde erreicht: Intraday charts formed a double bottoms. A pull back in the intraday may happen, therefore, manually take profit @ around 144.00 to secure a 2% profit.

Date: 12/27/2016

Time: 06:00 GMT
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