The Japanese Yens were showing great growth and promise for trend continuation trades this week. I was heavily interested in GBPJPY especially after securing 500 pips on her recently. However, price has reversed.
So, what does this mean? It means I'm no longer buying GBPJPY at a high price. A reversal at this point calls for me to look for sells.
If price can pullback to my estimation zone to stay below 164.647 I'll sell back down to 159.049 and hold a position for a continued potential sells.
This will be a countertrend trade so I'll risk 1% per position.
Let's pray this is not a false move.
Be safe trading because these Yens have moved vigorously so be careful trading them. They got me for a loss this week, but that doesn't mean the money can't be recovered.
Many blessing purposeful traders.
-Shaquan
So, what does this mean? It means I'm no longer buying GBPJPY at a high price. A reversal at this point calls for me to look for sells.
If price can pullback to my estimation zone to stay below 164.647 I'll sell back down to 159.049 and hold a position for a continued potential sells.
This will be a countertrend trade so I'll risk 1% per position.
Let's pray this is not a false move.
Be safe trading because these Yens have moved vigorously so be careful trading them. They got me for a loss this week, but that doesn't mean the money can't be recovered.
Many blessing purposeful traders.
-Shaquan
