Trading Strategy

GBPJPY

Trading Journal this week...

If we see chart at weekly, we know that trend is still downtrend.

Now, prices are still below upper channel.

At smaller time frames like H4, H1, and M30 we can see there is bearish divergence.













Trading Plan :

Now, I am trying to make short entry and still waiting for good time to entry. I think there is good time to sell when lower channel at H1 and M30 is break out.

But, I should wait for completed candlestick pattern at daily chart. I will wait for next days to avoid false-breakout and search good stoploss for entry.

Trading Strategy

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Trading Strategy

GBPJPY

This Trading Journal is taken from my other's blog.

This week, prices loss its power again to close above 141.71. Altough at daily (D1) prices can close above that level but at weekly prices closed @ 140.01 and makes false-breakout at weekly chart.

Based on analysis above, trend can go down and touch support-line.



Trading plan :

1. Ranging, prices just moved between bold trendline (blue) and dotted trendline (blue). Buy when prices close above bold trendline and Sell when prices close below dotted trendline. Use candlestick pattern at H4 as confirmation.
2. Breakout, Buy when prices close above dotted trendline (blue) and Sell when prices close below bold trendline (blue). It's better waiting for completed chart at weekly for confirmation to avoid false-breakout at daily.

Trading Strategy

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