GBPJPY H4 XABCD Short from PRZ/D TP1/TP2 Swing Trade

21 mag

🔸Hello traders, let's review the 4 hour chart for GBPJPY. Strong gains off the lows recently, however price getting overextended and expecting reversal later at/near PRZ/D.

🔸Speculative XABCD structure defined by point X 198 point A 188 point B 194.60 point C 185.80 point D/PRZ 197.40/80 still pending.

🔸Currently most points validated, point D/PRZ still pending 197.40/80, so traders should wait until we hit D before SHORTING.

🔸Recommended strategy for GJ traders: wait for price to max out to complete at point D near 197.40/80, short/hold, SL 80 pips, TP1 190.00 TP2 185.00. SHORT/HOLD at point D/PRZ at 197.40/80. swing trade setup. keep in mind this is a swing trade setup, patience required.

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