GBPJPY: Trend Reversal Signal Allows Traders to Short
What do you think about such a short trade?
The price bounced from 140.00 resistance zone. We have a bearish divergence, which gives us a trend reversal signal. MACD and RSI are bearish. The daily chart looks bearish as well.
Here is an example of a possible short trade:
Sell below 139.035
Stop above 140.210
Profit Target at 136.650
Risk per trade must be no more than 1-2% from the capital. It is possible to fix the part of profit at SMA200 and the rest part at the daily uptrend line.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price bounced from 140.00 resistance zone. We have a bearish divergence, which gives us a trend reversal signal. MACD and RSI are bearish. The daily chart looks bearish as well.
Here is an example of a possible short trade:
Sell below 139.035
Stop above 140.210
Profit Target at 136.650
Risk per trade must be no more than 1-2% from the capital. It is possible to fix the part of profit at SMA200 and the rest part at the daily uptrend line.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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