AdamWiIson
Short

GBPJPY - Short entries.

FX:GBPJPY   British Pound / Japanese Yen
48 0 4
We are currently in a descending channel with GBPJPY             on the 4H chart. I am looking to enter on a pull back at 0.618, this also coincides with a supply and demand area that has been respected on numerous occasions (smaller light blue box). if price action suits I'll be entering shorts at this zone again, Stop is at the 0.79 fib which is handily outside the strong descending channel that is ensuing.

Target 1 - Simply 0.236 fib level, this ensures a 2R+ trade and is where I usually exit these types of trades.

Target 2 - the descending channel support, I'll leave a bit of my short running for this trade, however the majority of profit taking will happen at target 1.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out