GBP/JPY – British Pound Yen (8th Oct 2008)
Short term (Intraday)
173,77. GBPJPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Trend Indicator) is in a bearish configuration. The price should find a resistance below 177,50 (373 pips). The downtrend should continue to gather momentum.
We could take a short position at 175,50. We will put the stop loss above 178,00 (-250 pips). The targets are 172,20 (+330 pips, risk/reward 1:1.3), 170,00 (+550 pips, risk/reward 1:2.2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances 176,00 – 178,00
Supports 172,20 – 170,00
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October 9th, 2008 at 2:22 am
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October 9th, 2008 at 2:35 am
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October 9th, 2008 at 2:35 am
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October 9th, 2008 at 3:08 am
[...] your electronic online portal wrote an interesting post today onHere’s a quick excerpt Short term (Intraday) 173,77. GBPJPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Trend Indicator) is in a bearish configuration. The price should find a resistance below 177,50 (373 pips). The downtrend should continue to gather momentum. We could take a short position at 175,50. We will put the stop loss above 178,00 (-250 pips). The targets are 172,20 (+330 pips, risk/rewa [...]
October 9th, 2008 at 3:12 am
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October 9th, 2008 at 3:20 am
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