It has been sometimes since I send you a signal to you guys and it is mainly because the GBPJPY and GBPUSD are in opposite trend making it very hard for you guys to trade. For those in my trade copier, I do trade these 2 pairs as I personally is monitoring its movement.
In this post, I am going to share with you a trading technique that might be useful for your trading as well.
On the 11th August, I have entered a SELL trade on the EURUSD, GBPUSD and GBPJPY at the same time. Although it does take the price quite sometimes to eventually move down, I will like to share with you why I enter the trade.
The reason why I enter a SELL trade on the EURUSD, GBPUSD and GBPJPY on 11th Aug is because the price on the 3 pairs hit a major resistance at the same time making it a very good opportunity for us to SHORT them. You can see the yellow line that I have plotted which is the major resistance I use to enter my trade.
Below are the trades that we have taken
The confluence of event is a good indication that the price are aligned. If you take a look at the picture above, you will see that the trend of the 3 pairs are all DOWN at the moment.
Forex Signal For GBPJPY
Now that the GBPJPY has also shifted its trend down, it gives us a good alignment of trend for the 3 currency pairs. I will be looking to SHORT the GBPJPY today once it hits a major resistance.
For those of you who are in my forex video signal, you will see a video signal from me showing you where exactly you should enter the SELL trade and where to take profits and place your stop loss
For those of you who are interested to join my forex trade copier and gain lifetime access to my forex video signal, you can take a look at the promotion below