GBP/JPY – Short

This ended up to be a gain of 10 pips. This quick analysis wasn’t conducted in an ideal setting (mobile phone etc.)

Notice after the strong gap up, the was a very bearish candle.

Sometimes we can anticipate a lower high, and the formation of a channel type formation.

The price did move higher and that meant I was in the red for about 40 pips. However, as it turned out, price did move about 40 pips lower. Not to say we will capture the entire move, of course. Price WAS approaching an area where it could potentially bounce higher.

 

gbpjpypro-h1-1023

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