Amidst the current markets I have been sitting on the sidelines waiting and will continue to do so until opportunities present themselves to me without the risk of sudden market moves spiking stops or widening spreads suddenly.
Currently I am looking at GBPJPY to see if we will get a bit of a retracement after the most recent leg down, before potential for a continuation to the downside. No pending orders placed as I want to see how the next few days play out and then how price reacts at the area highlighted.
Overall aiming through for a short position if the criteria are met; however if the BOJ performance with significant paper losses and the potential for positive news re COVID-19 containment or the opposite in the UK could well mean a long position could be appealing if we can get a new higher low and leg up.
Currently I am looking at GBPJPY to see if we will get a bit of a retracement after the most recent leg down, before potential for a continuation to the downside. No pending orders placed as I want to see how the next few days play out and then how price reacts at the area highlighted.
Overall aiming through for a short position if the criteria are met; however if the BOJ performance with significant paper losses and the potential for positive news re COVID-19 containment or the opposite in the UK could well mean a long position could be appealing if we can get a new higher low and leg up.
Comment:
Currently looking to see how price reacts around this level before potentially entering any trades.
Order cancelled:
No entry