Thursday, December 6, 2012

GBPJPY Channel Short GBPJPY Short Trade
Initially I went short this pair at 132,48 on test of channel's upper trendline. Previous post [here].

Since then pair is moving along with trendline. 

Now another resistance area is coming up which is high of March-12. This area might provide some pullback to a over brought pair. 

I am planning to add another short around 133.10 area with a combined stop above March highs.My target will be mid or lower part of the channel. This offer a good RR trade.

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