This pair has entered a sell zone on the Monthly and Daily Charts. The plan is a 3-trade plan. 1st trade: Sell below 137.07 with a SL at 140.15 on a DAILY candle close only with a TP at 129.03. 2nd trade is to buy it in the buy zone between 124.82 and 129.03 with a TP @151.60. 3rd trade is to sell it at 151.60 down to 91.40. Note that 151.60 – 175 is a major sell zone and SL should be fairly big when trading this pair as it’s a real mover!

GBPJPY TRADE PLAN 13 APRIL 2017

Source: QUEEN OF POUND

2 thoughts on “GBPJPY TRADEPLAN – 13 APRIL 2017”

  1. Mike Defaulos says:

    I hv slightly different view. Even if it breaks the support @136.50, we are going up. Nothing in that price action is saying down imo. We’ll retest 143.50 high, that will make it a complete structure and then we will go down.

  2. Maryna says:

    Thanks for your inputs Mike! Sure, it is oversold at the moment and can expect a pull-back, hence the suggested SL. I expect it to reach 125.00 eventually. As an intraday-trader it does not really matter to me which way it goes as I trade weak/strong currencies on a daily/session basis. I appreciate you reading my post – thanks!

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