Falling wedge on GBPJPY Weekly TF.
With Boris forcing Brexit through - dragging the GBP down
And with Trumps impeachment - Also dragging USD down But taking the JPY up
May see a huge drop here.
This will be a swing trade where you could be holding this trade anywhere from 2 weeks to 8 weeks
Ideal entry is around 143.143.700
SL 144.500
TP 128
Large SL in place so use smaller lots, work out how much you could potentially lose on a pip calculator
I don't see this trade set-up working with GBPUSD as both pairs would be declining. We may see more of a consolidation period for that pair. Unless, of course, there is some kind of positive news regarding the US-China deal in which case we would sell GBPUSD
With Boris forcing Brexit through - dragging the GBP down
And with Trumps impeachment - Also dragging USD down But taking the JPY up
May see a huge drop here.
This will be a swing trade where you could be holding this trade anywhere from 2 weeks to 8 weeks
Ideal entry is around 143.143.700
SL 144.500
TP 128
Large SL in place so use smaller lots, work out how much you could potentially lose on a pip calculator
I don't see this trade set-up working with GBPUSD as both pairs would be declining. We may see more of a consolidation period for that pair. Unless, of course, there is some kind of positive news regarding the US-China deal in which case we would sell GBPUSD