Home » Daily Trading Signals » Caught 350 pips on GJ


2 thoughts on “Caught 350 pips on GJ

  1. From the monthly time frame,Gj has been trending downwards in a bearish descending triangle.Price came up to the resistance at 155.921 and showed a bearish reaction confirming a strong monthly resistance.Building confluence on this, price had just made another touch of the downwards trendline on top of this on the monthly Rsi, We are overbought.So I was looking for to short the market.I went to the 4h tf saw price forming a downwards trend breaking structures to the downside at which point it fell from 153.000 to 148.875.I now waited for price to come back to come back to that zone and I put a sell stop at 152.898 with a 50pip stoploss above structure and target was the strong 4hr support around 1:7RR 148.866 putting it around a The trade took over a week to play out patience was key.I exited the trade at the strong 4h support 149.334 at which point I see we are oversold on the 4hr time frame.I will be waiting to see how price behaves and will be looking for more opportunities to sell.

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