(GBP/JPY) Short Term Sell OpportunityGrand Rising Traders. Thank God Its Monday! Who else is ready to destroy the markets this week?
These are my thoughts for GBP/JPY
- After a strong push to the upside , momentum is finally slowing down indicating sell pressure.
- Higher lower formed , breaking bullish structure.
However i still feel that there is a lot of buy pressure in the market, so be careful.
Advice
Only trade one pair at a time. Its much easier to predict the direction when your attention is focused on one chart.
Good Luck With The Rest Of Your Trading Week
I Wish You All The Best
#forexprodigy
London
GBPCAD trade idea for LondonGBPCAD is showing strong bullish movements after hitting off of a weekly bullish order block. Im looking for the market to drop about 30 pips around the daily oder block entries, depending on what EURGBP does during London open. That will be my main indicator on if GBPCAD will be a buy or not. Also I see the buy side liquidity pool has been created over time with the triple top. It's just a matter of time before it gets violated and we make a bull run, although I wouldn't really hold on to buys for too long on GBP pairs.
08.05.2020 GBPUSD London Daybreak Idea
08.05.2020 GBPUSD London Daybreak Idea
GBPUSD Buy Stop @ 1.24008
SL: 1.23708
TP1: 1.24208 (20 pips)
TP2: 1.24380
GBPUSD Sell Stop @ 1.23708
SL: 1.24008
TP1: 1.23508 (20 pips)
TP2: 1.23332
Risk management max. 3%
Buy SL = -30 pips ==> 0.01 lot per 100 $/€
Sell SL = -30 pips ==> 0.01 lot per 100 $/€