GJ to drop at least 330 pips more (already in 122 pips profit)

Hi Guys, My trades are going really well as per my idea of last week (see the link below for the idea).

You need to understand how smart traders/big investors work. They take their positions slowly as they have a huge volume and also generally take the position in semi - long term perspective. If you look into the chart of volume then you now will understand that a lot of people are now stucked into the price level 157.08 area and then smart traders are pushing the price down now and they keep continue doing so till Fib 61.8% area (152.80 zone). The price wont go up because of the multiple 4H RSI divergence happened in the same zone which most of the time indicates trend reversal for this pair.

Fundamentally GBP news are coming good but price is no longer re acting to those news because it already soared up from end of Dec to accommodate sudden interest rate hike of GBP. US and JPY news are coming bad. So most of the traders will take long position because they will think all the GBP news are good but JPY/US news are bad so GJ should go up but in reality the price is going opposite to GBP. US Fed is going to take some necessary measures to save US economy so smart investors are taking their position against GBP and for USA. As I said JPY is passive element on this GBPJPY pair as now. So the price will always depends on GBP for this pair. Strong US is bad for this pair and this its going down and continue to do so.

US Fed is likely to increase the interest rate on March and when March come you'll see there is no impact on that news as all the smart traders will take the position on this Jan and Feb as per plan. But if Fed changed the interest rate before that or increase it more than expectation then there will be some impact on the news.

My both trades are running well with one in 122 pips profit and another on in 93 pips profit and I continue to hold both of them.

Order #1 Short GBPJPY executed on January 12 and in 122 pips profit
Sell @ 157.32
TP @ 152.80
SL @ 158.70 (I may create a Hedge locking at that price if Price Action permits so)


Order #2 Short GBPJPY executed on January 13 and now in 93 pips profit
Sell @ 157.03
TP @ 152.80
SL @ 158.70 (I may create a Hedge locking at that price if Price Action permits so)


Target timeline in End of January of Mid February

Comment:

Still holding both the trades with profit and expecting a big drop from here. But again it may test supply zone or even Oct high (although I see a very slim chance of that as of now)

Comment:

Still holding both the trades. There is a spike which is trying to break the 61.8% Fibo level as per the below chart. if it breaks that resistance then I'll exit from trade with less profit and will wait for re - enter. (by the time I wrote this comment and save the picture the price started going down and could not able to break the 61.8% level. Lets see how it goes)

Comment:

Trade closed manually: Closing both my trades with profit as price action looks like I may get better entry point again in this week (most likely Thursday/Friday UK session). Will re enter the short position again from top.

Looks like It may test 157.10 resistance or even can test 158.28 resistance

Trade closed manually:

There are mixed Signal in GJ and that's the reason I am closing all my short position with profit. I may do some scalping but will enter a long term position if I get enough confirmation.

Right now there is a accumulation zone building up in 155.60 zone so I'll let the big guys to build their position. on the other hand price cannot break the support of 155.48. Finally the reason I am mostly concerned is the recent 4H divergence in the early signal of reversal.

Thats the reason I am exiting all my short positions with profit.