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Gbpjpyshorttrade

GBPJPY - Weekly forecast, Technical Analysis & Trading IdeasMidterm forecast: (Daily Time-frame) While the price is below the resistance 199.79, resumption of downtrend is expected. Technical analysis: The descending flag taking shape suggests we will soon see another leg lower. Trading suggestion: Price rejected from Trend Hunter Sell Zone (198.42 to 199.79). We are going to open 8 sell trade based on these Take Profits: Take Profits: 196.00 193.51 191.88 189.47 186.23 182.78 178.41 Short Term forecast: (H4 Time-frame) The Uptrend is broken, and the price is in an impulse wave. Correction wave toward the Sell Zone. Another Downward Impulse wave toward Lower TPs. SL: Above 199.79 __________________________________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . Please show your support back, . . . . . . . . Hit the 👍 BOOST button, . . . . . . . . . . . Drop some feedback below in the comment! 🙏 Your Support is appreciated! Let us know how you see this opportunity and forecast. Have a successful week, ForecastCity Support Team
Short
by ForecastCity
22
9-19-19 GBPJPY short trade play ideaHere is another Forex Trading Snack! Yes I know... But there is significant amount of news risk associated with trading GBP pairs right now, you say. True! But using calculated risks, there is a great opportunity for an over sized reward for the risk taken in my opinion. First this pair has completed a double bottom pattern It has moved up from that bottom some 600-700 pips It has built on the way up an ascending wedge pattern which has also broken that to the down side. All of those things point to a higher probability of a reversal in direction lower in price and or a greater opportunity of slower grinding move higher from here. In other words the odds favor prices going lower in my opinion. I just feel without bigger news reports that point to more positive Brexit news—grinding around similarly as it has done week is its best showing to the upside. This week was filled with rate decisions and central bankers and price remains still close to it top but within a range. When I was a new trader my mentor said all to often to me, “ What doesn’t go up has only one way to go! “ I’m leaning towards another short term pop up in price attempting to retest the highs or even setting another new high but remain under that ascending wedge’s broken lower trend line. Here is s landscape view of the whole double bottom up to its targeted range and the ascending wedge pattern. I do have an alternative trade idea should we not get a pop-up in price. I’ll post it in the comments section that is to follow. If you decide to trade this idea, you also assume all risk of loss. In trading you either make dust or you eat dust! All the best In Your trading.
Short
by PipsTradingClub