GBPJPY watching for short

16 aug. 2020Touching 6/5 high on 8/13 and reversal on 8/14. From 8/3 to 8/10 it formed flag and it exceeded upwards but if this flag fails there can be the opportunity for short.

23 aug. 2020

Kommentera

While waiting for the short sign, it created the strong bear bar on 8/21. Maybe it can be the good strategy to put stop entry at the below that strong bear bar. In that case the stop loss can be at 60% from the low of the bear bar. To be more conservative, should wait for one more price action.