GBPJPY. Short Possibility (Medium Risk/ High reward)
hi dear traders.
For today we can watch GBPJPY, as it is about to complete a correction, which seems to be an ABC.
price has reached to a strong PRZ and also time factors has been satisfied. we can speculate that this correction is at its end and wait for a conformation to go short.
If price manages to hit its Trigger (few ticks lower than 153.663), we can enter a short position with MEDIUM risk. It is medium since there are no reliable Low swing near PRZ to put our Trigger under it. So it is vital to manage your position size according to the risk of this trade.
I'll answer to your questions.
have a good day.
For today we can watch GBPJPY, as it is about to complete a correction, which seems to be an ABC.
price has reached to a strong PRZ and also time factors has been satisfied. we can speculate that this correction is at its end and wait for a conformation to go short.
If price manages to hit its Trigger (few ticks lower than 153.663), we can enter a short position with MEDIUM risk. It is medium since there are no reliable Low swing near PRZ to put our Trigger under it. So it is vital to manage your position size according to the risk of this trade.
I'll answer to your questions.
have a good day.
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