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GBPJPY Short
We have said before that we have a short bias on this pair.
The market then pushes up and found resistance on the Head & Shoulders neckline and start consolidating. We knew there was going to be a breakout, but considering our bias is short, we then placed an entry on the resistance, and the market breaks out to the downside.
As of now we still have a SHORT bias on this pair, until we get a break and close above 137.500 Level. We could also be forming a Head & Shoulders pattern on the 30m Time Frame. We placed a limit order on 136.000 even. It was 6 pips away from being triggered, but we will leave it there and wait until we either get stopped out or hit targets once the limit is active.
*DO NOT TRADE THIS ANALYSIS BLINDLY*
That's my thoughts about this pair, let me know what's on your mind down in the comments!
The market then pushes up and found resistance on the Head & Shoulders neckline and start consolidating. We knew there was going to be a breakout, but considering our bias is short, we then placed an entry on the resistance, and the market breaks out to the downside.
As of now we still have a SHORT bias on this pair, until we get a break and close above 137.500 Level. We could also be forming a Head & Shoulders pattern on the 30m Time Frame. We placed a limit order on 136.000 even. It was 6 pips away from being triggered, but we will leave it there and wait until we either get stopped out or hit targets once the limit is active.
*DO NOT TRADE THIS ANALYSIS BLINDLY*
That's my thoughts about this pair, let me know what's on your mind down in the comments!
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