GBP-JPY - updated chart, short at higher levels

25. März 2020

Updated GBP-JPY chart with comments

29. März 2020

Anmerkung

I'm getting ready to open short position.

Price is moving up as i was expecting, it poke through and into that 134.503 level, but i'm expecting a little higher, i'd like it to get to my target at 135.369. This may well happen during the asia session.

I will have my short sell order at these following levels:

1st - 135.330. 2nd - 135.350. 3rd - 135.369.

Should it move higher i will add along the way up.

Stop will be above 137.000

30. März 2020

Anmerkung

Price appears to have stalled at current levels, range bound since Thursday. I'm looking for that move higher into that 135.369 level. That said, I'm no longer going to scale in on the short side on the 1st and 2nd levels as per previous comments, but rather watch how price may push higher, as it could be the case that perhaps price moves higher than that 135.369 level, so i'll will watch this and manually enter my short if price action warrants it. For now it's watch and see.

1. Apr. 2020

Anmerkung

We could reach 136.580 and reverse from there, upside risk would therefore be very limited. SL can be well controlled.

2. Apr. 2020

Trade ist aktiv

I've now opened my short position, as price looks ready to roll over.

4. Apr. 2020

Trade ist aktiv

I'm now looking at price possibly moving higher and into the previously mentioned resistance levels. If price does move higher then i have 2 key levels where i plan to add to my short position, these being at the 135.369 and then at 136.971 levels.

The stop would need to be higher and above the previous (i) which was registered at 141.168.

7. Apr. 2020

Anmerkung

Update, price is still moving higher in what i see as a short term correction with lower prices expected, price poked through the 50% retracement line, given this, i'm now focused on the 61.8% at 136.971. I will add to my position at this level.

tradingview.com/chart/xRJ8HvNm/