GBPJPY [SHORT] Trend Trading

OANDA:GBPJPY   British Pound / Japanese Yen
Relatively good sized trade I've picked up on this afternoon. Theres a couple resistance levels to take note of, the first one will be a retest before the price drops.

This would not be an active trade until that resistance line is retested.

Potential profit levels marked. Simple trend analysis trade.
Trade active: I'm now in this trade, no sign of a retracement, looking for TP2
Comment: nevermind there's that retracement
Trade closed: stop reached


Hello mate me again, I'm just watching another set up of yours, just so I understand this correct the blue 132.015 line is your sell order line, the red 132.521 line is your stop loss and the green lines are your take profit points ? And your hoping for a continuation of the down trend when the parallel channel is touched again? thanks allot
+1 Reply
dc95 eboratac
@eboratac, yeah you've got it.

Dashed blue line is a previous resistance so I'm waiting for a retracement of that then looking for it to bounce onwards to TP1, 2 and 3 it will likley spend a bit of time trying to get past each TP it might also not get them all.
Thanks for the analysis again mate slowly getting the idea
+1 Reply
dc95 eboratac
@eboratac, no problem
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