GBPJPY Breakout retest sell.
Hello guys, Paul vereline here, i am new to publishing trade ideas to tradingview so i am interested to see how things turn out! Anyways lets get to the analysis. We seen a HUGE impulse breakout of the up-trend that it was following causing it to create a new support of "150.000". Based off of the movement that we have already seen, i would like to see price Retrace/Correct back up to "61.8" level on fibbs then continue its downtrend that has also now been created after the impulse drop. I would look to enter this trade anywhere from "151.500 - 151.750" shorting it with a stop loss of "152.100" because it price hits that zone i would expect it to keep rising. Green lines being my short take profits and blue lines being swing trade take profits.
Entry: 151.500 - 151.750
Stop Loss: 152.100
TP1: 151.000
TP2: 150.000
TP3: 149.000
ST1: 148.000
ST2: 147.000
ST3: 146.000
*Always use risk management*
-Paul
Entry: 151.500 - 151.750
Stop Loss: 152.100
TP1: 151.000
TP2: 150.000
TP3: 149.000
ST1: 148.000
ST2: 147.000
ST3: 146.000
*Always use risk management*
-Paul
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