GBP/JPY Analysis: Profit from Short Positions after a Pullback >> – SeputarTradingForex.com

A valid rejection daily was formed when the price tested the 151.91-152.33 supply range. Short positions just wait for H4 confirmation after the pullback.

Assalamualaikum and good morning… The potentially weakening price will take advantage of the opportunity for this entry when testing the supply area 151.91-152.33. See the explanation below for more details.

GBP/JPY daily level: 151.91-152.33 offer Looking at the daily chart, the price has formed a valid rejection testing the 151.91-152.33 offered area. Short positions just wait for H4 confirmation after the pullback.

GBP/JPY H4

Signal: H4 Candlestick Confirmation Scenario Selling first waits for a pullback and then enters a sell position using a confirmation candlestick pattern on the H4 time frame, such as: B. Bearish Engulfing, Pin Bar (long upper shadow) or Bearish Inside Bar.

GBP/JPY Entry Opportunities The above description suggests entry opportunities with the following plan: Position: Sell Level: Supply 151.91-152.33 Signal: H4 Candlestick Confirmation after Pullback Attention: Entry only after confirmation has been formed. Always use good money management (1-2% risk per transaction). If a short position has been entered and the price has not reached the SL or TP, close the position as soon as possible (emergency exit) when the price forms a reversal candlestick pattern (bullish engulfing, pin bar with long lower shadow or bullish). Inside Bar) in the daily time frame. Hopefully this analysis can help to read price movements and make transaction decisions.

Source: aboutforex