GBPJPY: Example of Short Trade
The price bounced from 140.00 resistance. The price action at this zone allows us to trade following a reversal signal or wait for a breakout. In the exact situation, I think short trades look logical. MACD and RSI are bearish. DMI doesn't tell us about the strong buyers.
If the price moves up to retest the resistance, we will be able to get a better entry point.
Here is an example of the short trade:
Sell below 139.825
Stop above 140.035
Profit Target at 139.250
Risk per trade must be no more than 1-2% from the trading capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price moves up to retest the resistance, we will be able to get a better entry point.
Here is an example of the short trade:
Sell below 139.825
Stop above 140.035
Profit Target at 139.250
Risk per trade must be no more than 1-2% from the trading capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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