GBPJPY Short Setup

We have here another potential short setup on GBPJPY.

This research is for informational purposes and should not be construed as personal or financial advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

Note

TP1 hit.

Note

TP2 hit.

Note

The pullback was deep and now we can see a bearish engulfing candlestick has completed on the 5min timeframe. Stops are now in profit.

Note

Stopped out in profit and re-entered on this bearish engulfing setup on the 15m timeframe.

Trade closed: target reached

Closed with 20pips on the second entry. If we retest the upside, it may not hold.

AEFX786

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AEFX786

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