GBP/JPY Pending sell order for 70 pips!

FX:GBPJPY   Britisches Pfund / Japanischer Yen
Hi guys,

Please check my chart to understand what I will be doing with this pair.

* Enter position will be at 148.700 if prices reach this level and break trend lines on M15.
* Profit target at 148.00

==> Potential profit: 70 pips. Don't be too greedy :-)

Feel free to like/comment !


Kommentar: **** Addendum****

Good luck !
Kommentar: Hi guys,

Interesting what happened at yesterday's session. Prices broke supports and is now heading to M15 support line. Should prices break, they will fall hard and next support should be seen at around 148.

Have a look at volumes (VERY IMPORTANT): the more prices go up, the more buyers are decreasing. This is a good indication that prices should continue to go down next week....


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Do u still see this to go down.... if yes how high it may go before coming down... any opinion
+1 Antworten
AidilAzhar praveenfx
@praveenfx, we will never know where market going to be...the best is to follow where the market wants to go.. juz my 2 cents..
+1 Antworten
SwissPips praveenfx
@praveenfx, Thank you for commenting.

Actually we don't know but in any case I would not sell ABOVE trend line supports (as shown in my chart below).

On M15 the pattern has changed as you can see, I will be looking to sell whenever I can this pair.

SwissPips SwissPips
@praveenfx, I think if prices break and re-test the dotted trend line (as shown below) you will be able to sell it and it will fall hard.... and entry prices should be even higher than my 1st entry point.....

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