FOREXCOM:GBPJPY   British Pound / Japanese Yen
Price looks to reach resistance of lvl2 downtrend. Going to sell for another 200pips

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Trade active
Comment: You can move your SL to breakeven now.
Comment: would be take another position at 132.501
Comment: move SL to 133.113
Comment: still holding on this trade
Trade closed manually

Comments

Set up still valid yeah?
+1 Reply
SwingingPrime pitsowarona
@pitsowarona, yea. Did you enter? If you did, you might have to bear the spikes until moves back into trend. It looks like lvl 1 formed. Still forming the reversal pattern downward though. gotta bear that.
Reply
pitsowarona SwingingPrime
@SwingingPrime, cool mate, I did enter, thanks
Reply
SwingingPrime pitsowarona
@pitsowarona, alternatively when price is near your entry, you can close at no loss, and wait for the structure to form fully. AUDUSD is also happening now.
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pitsowarona SwingingPrime
@SwingingPrime, OK cool, let's check that out
Reply
SwingingPrime pitsowarona
@pitsowarona, Price is forming the 2nd leg for rejection
Reply
Great analysis, I think your analysis is unfolding as we speak
+1 Reply
SwingingPrime pitsowarona
@pitsowarona, would check it out. Thanks
Reply
pitsowarona SwingingPrime
@SwingingPrime, so no retracement or pull back after the break of the Trendline?
Reply
SwingingPrime pitsowarona
@pitsowarona, hi, sorry just seeing your message. Oh, no, we just had a major setup not too far from that. hmmm, a likely pullback might form at 132.031. The pullback should be in the form of a range, before continuing downtrend. What I not sure of is if the range forms on top or just below that price range
Reply
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