Hello friends, GBPJPY is really doing great if you short it at the first pin bar and after the doji and marabozu candles at the daily pivot R1(1 hr time frame).If you are not in yet,it is not too late as it just bounced from 25 period sma.Why not ride this till the end of the week by which it could reach 155.36 God-willing.That is over 940 pips guys!
It did about 940 pips last week too.In two days a friend turned his 575 dollars opening balance to a whooping $9700.Fortunately he did not exit at the daily pivot S3 on Thursday when the price printed a a huge doji,expecting the price to go further down to 155.36,but the market repeatedly hinted it was not going to go further down but my friend did not listen;and thus he only closed his trade at $4200 balance after reaching $9,700 as said earlier.
Friends,GBPNZD is another wonderful paiir to short now.The scenario was set at 7pm GMT on Friday when it printed a powerful marabozu at the old weekly resistance and the level daily R1 formed on 10/02/2016.You could short immediately with a tight Stop Loss.It has already dropped over 240 pips.By the end of the week it should drop over 1000 pips God-willing.You may want to wait for a entrancement before entering.Though shorting it right away is not a bad idea either with good money management,proper lot sizing and a long target of 2.0690 as the final target but a take profit down the way at 2.13054.
Note that these are my idea and not trading advises.I am not certified to give that.If you know your stuff you can confirm or negate the ideas or wait to see how it plays out at the end of the week,God-willing.
Wishing you all successful trading week.Best Regard.
Good day friends, GBPJPY tested the previous high of 165.70 zone again and closed below it.This is actually a Supply Zone up to 167.70 area.The rally fro last week Thursday has been a strong secondary trend,yet a retracement of about 605 pips at the moment. Aggressive traders may short every high within the Supply Zone.Moreover,the fundamental news on Monday-Japan's GDP of -1.4%-favored a short term rally of the pair to retest the previous high on the 1 hour time frame.
As for conservative traders,they may want to wait till the price closed below the Daily Central Pivot at 165.114 and then retest it.They may also wish to wait for the high impact news on GBP of CPI and CCPI at 9.00 GMT,perhaps it will give them a better SELL entry.Then they can ride it down to 161.647 and then 159.774 as two TPs,especially if the news is not good for GBP as it did last week as pound has been under pressure for sometime now.
After a strong close below the 159.774 is a good time to short and TP at 155.36 area.If the close is weak,you mat want to wait for a retest. This pair is really sweet,friends.
Again,these are my thoughts and not a trading advice.
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