Swing Trading Strategy GBPJPY – 24th April 2019

Swing Trading Strategy GBPJPY – 24th April 2019

Close
Close

GBPJPY, after producing a double top has been heading towards the South with good selling pressure. The pair, on this selling wave, has been having a little consolidation and going towards the downside. The pair seems to have found a strong level of support. The price had a bounce and started having a correction. A level which has the potential to be a strong level of support is nearby. Thus, sellers are going to be keen again to get an H4 bearish reversal candle and another breakout towards the downside to start selling the pair again. Let us have a look at the H4 GBPJPY chart.

This is another trade idea generated by the Elite Swing Trader.

Swing Trading Strategy GBPJPY – 24th April 2019

Swing Trading Strategy GBPJPY – 24th April 2019

The price started having a correction from the level of 144.550. The level of 144.950 has a strong potential to be the level of resistance for various factors. If that level is held and it ends up producing an H4 bearish engulfing candle, then an H1 breakout at the level of 144.550 would drive the price to go towards the level of 143.900 with a good pace. Summary of the trade…

  • Sell Stop Order: 144.571
  • Stop Loss: 145.015
  • Take Profit: 143.900

The GBP has been a bit inconsistent currency for some months. The Brexit issue has made the currency be a little inconsistent nowadays. This is why we see almost all the candles on GBPJPY have long spikes. However, the good thing is the selling/buying momentums are there. Considering the circumstances, it is better that traders do not use too big time frames to trade on the GBP pairs.

Click Here to learn more about Elite Swing Trader

The Elite Swing Trader Trading Dashboard

With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.

This is a time tested Ever Green Swing trading system. Learn more here…


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 2 comments
Do NOT follow this link or you will be banned from the site!

The AllPips Trend Indicator

Trading is simple when the Trend is Your Friend.
Enter Your Details Below to Download FREE Now.

envelope-o
long-arrow-down