GJ Short: Reversal from a trend line of 2019 (Risky idea)

What a show of GBPJPY for last few days. However, GJ still has a good chance to go up but I've figured out a trendline yesterday and was waiting to see the price action at that line and seems like it has touched and started reversing from there. So I am entering into a short trade from here. Although as I said this is a very risky trade but still cant wait to short at this time.

My Trade:

Sell GBPJPY: 159.74
TP: Open for now but will decide based on price action once we reached to 158.11.
SL: Hedge locked to 160.32

コメント:

A bigger picture of the trendline on daily chart -

コメント:

Also another area of interest is the greyed zone -

コメント:

My Hedge locked position activated. I'll wait till later today or tomorrow to take the next steps. I am holding both my positions.

コメント:

closed my Hedged Buy position at breakeven(160.24). Created a new Hedge Buy at 160.50 against the running Sell order

コメント:

it looks like bulls are really strong. However, today is Friday and I'll wait till UK and US session to wait for a counter trade.

At this moment I have 2 active trade
1. Sell: 159.74

2. Buy: 160.50 (will close it if I have a confirmed reversal)

コメント:

Closed the Hedged buy at break even... now only one active order
Sell at 159.74 from yesterday .. new hedge buy is set at 161.00

コメント:

this trade is really testing me.. again closed the hedged trade in break even and another pending hedged buy stop at 161.55

コメント:

Interesting move in GJ so far. I am still holding both my hedged position.. Technically there are many things are going in favor of a price drop soon. (specially there is a 4H RSI divergence - which is one of my favorite trading patterns)

コメント:

Looks like it's time for short. I've closed my hedge buy at 162.00 with 50 pips profit. New Hedged buy is 162.70.. I am expecting a big short move from here. lets see how it goes .

コメント:

GJ - after a false impulse breakout GJ is coming back to normal trading range. RSI divergence is there which is one of favorite trading patterns. I am expecting a 200 - 400 pips drop from here (please be cautious of some spikes in opposite direction) so my previous trade is still running and there is a pending Hedge order -

Sell GBPJPY: 159.74 (from last week)
TP: Open
SL: Hedge Buy Stop at 162.50

コメント:

Comment: Hi Guys, price has dropped 250 pips since I last wrote to you.. I am expecting some huge drop of 100 - 400 pips from here. my open order is now at 60 pips profit. I have updated the Hedge Buy Stop level -

Sell GBPJPY: 159.74 (from last week)
TP: Open
SL: Hedge Buy Stop at 160.50

コメント:

Hedged buy stop was activated and closed it today at breakeven. till holding my sell order at 159.74 and added another sell order at 160.30

Order 1:
Sell GBPJPY: 159.74 (from last week)
TP: Open
SL: Hedge Buy Stop at 160.55

Order 2:
Sell GBPJPY: 160.30 (from 31 Mar 2022)
TP: Open
SL: Hedge Buy Stop at 160.65