For this trade I will be looking to short the Pound Yen. I would like to see the price up a bit before entering short. If I see a bearish engulfing candle at any point in the current uptrend I will consider entering there however I would need to see the RSI showing signs of reversal.
Note
The latest candle was very close to engulfing the previous up candle. If the next candle closes low with strength I will enter. If the next candle has a weak close I will wait for better entry.Note
Stops at break evenTrade closed: target reached
Both T/Ps hit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.