Monday, November 19, 2012

GBPJPY Short Trade GBPJPY Short Trade
GBPJPY daily is currently at the declining trendline. Previously this trendline has puched back price below. I am expecting this trendline to hold. 

On daily timeframe, pair looks overbrought and a pullback till small channel can be on cards. 

I went short at 129.32 expecting a move back towards the small channel. My stop will be break & daily close above the trendline. This looks like a good RR trade.


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