We were looking for shorts on EURJPY, GBPJPY and GBPUSD as I mentioned in last weeks post and video, and we had entries on all three. EJ and GU worked out well but I got stopped out of GJ. This week these pairs on still on the watchlist along with a few others.
EURJPY – Short
So we shorted EJ for over 200 pips last week as we had an entry as per the plan. When looking at the daily chart it still looks like there’s room for price to fall. If we get another entry then I’ll be taking that too.
EURUSD – Long/Short
EU is still stuck in a range and is has to hit one level sooner or later, so keep an eye on this one.
GBPJPY – Short
So GJ stopped me out by a pip or two before falling and has since retraced significantly. If there is another opportunity to enter I will probably take it my rules are met because as with EJ the daily picture still looks good as far as profit potential is concerned.
GBPUSD – Short
We shorted GU with confirmation on both the H1 and 5m charts and there is still room for price to fall. Price did make a turn to the upside towards the end of the week so we may not see as big a fall as expected.
USDJPY – Long
Price has not yet made it back down to demand but there is still potential so we’re watching UJ also.
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