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I've decided to look for shorts on GJ due to the pound weakness and the price stall around my monthly resistance.
Price action is starting to suggest that a shift in momentum could be in play and lower highs are being made.
Took some profit off the trade earlier as i saw this coming...
Monthly resistance tapped, back down we go....
Stops very tight but i will enter if we go higher
Focus is needed... have to be fast.
First trade for new project.
I will be looking to grow a £500 account to £5,000 in the next 4 weeks. I will be documenting my trades on here to look back on as a memory and to prove to anyone that it is possible.
After this first project is completed i will then increase the starting balance to £2,500 and grow it to £50,000.... this is just the ...
Double top formed at 4h price zone, price gaining liquidity with potential to push down through 4h zone to daily zone at 145.800 price region.
We can see from weekly that volatility became apparently small since 2017.
140.000 - 155.000 Both of the upper and lower of the range are blank.
Therefore, if you go outside one of the upper and lower ranges, it may be possible to expect volatility to recover.
Since it is the most recent range, I will aim for ...
GJ looks in route to complete the butterfly pattern to touch the Daily trend line and continue and form a Lower Low.
Lets see if fundamentals of this week can help this pair to get that zone.
Monthly features consecutive spikes at 150 zone - However wiped out previous lows
25 sl 100 tp
Strong bullish momentum from daily and weekly. Daily is making HH and HL, this is probably the higher low.
Please feel free to drop your ideas, thanks.
Confluence of previous support turned resistance with retest and second line of resistance with confirmation of bearish reversal also close to the .618 line so going to enter short when the market opens with potential gain of 250 pips just above the previous low of 136.348gb
Rejected by .618 line and still shows signs on resuming bearish trend on higher time frames so re-entry at 139.361 level with stop loss just above .618 line @ 139.701 level with tp at roughly 138.425 with potential to carry on dropping to 1.27 extension of 137.523
Going to short gj at .618 retracement after a confirmation of reversal then going to tp at 1.27 level at 138.260 for potential 125 pips
I locked my previous profit and re-entered at the 0.764 retracement level at 139.200 looking to ride until 1.27 extention at 138.460 level
Bounced of 0.5 fib retracement now looking to short after trendline breaks.. looking to short for 180 pips and take some profit off 1.27 extension level
Order triggered on gj after a strong support, trend line , neckline break. We decided not to enter on the right shoulder at 50% as we checked back in history and found the 142.500 area (highlighted in grey) a bit risky to trade above it so we took a more conservative approach and set the order underneath where we had a lot of space for the market to drop into if ...