Sell below 148.78.
Stop loss at 150.09.
Take profit at 146.72.
Reason for the trading strategy (technically):
GBPJPY reversed nicely off its resistance at 148.78 (100% & 61.8% Fibonacci extension, 76.4%, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a further drop to its support at 146.72 (38.2% Fibonacci retracement, horizontal pullback support) is expected.
Stochastic (89, 5, 3) reversed nicely off its resistance at 98% where a corresponding drop could occur.
Stop loss at 150.09.
Take profit at 146.72.
Reason for the trading strategy (technically):
GBPJPY reversed nicely off its resistance at 148.78 (100% & 61.8% Fibonacci extension, 76.4%, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a further drop to its support at 146.72 (38.2% Fibonacci retracement, horizontal pullback support) is expected.
Stochastic (89, 5, 3) reversed nicely off its resistance at 98% where a corresponding drop could occur.
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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.
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.