GBPJPY

Short position setup - been watching this pair for the last week, waiting for a close below the daily support level. Our indicator called a Bearish movement two days back, waited for confirmation on a smaller timeframe which we now have. (4hr) This is a longer-term swing trade.

58% of retail sentiment is currently Long. As well as COT data showing the larger money, closing GBP long positions and switching short. As well as JPY positions being added long.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stock, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.