The purpose of this post is to let you guys know that the GBPUSD and GBPJPY might be changing its trend from UP to DOWN on this coming Monday and I hope that you can grab some pips from the move.
For the GBPUSD, it has shown sign of trend shifting on Friday night and we have entered a SELL trade which is still ongoing at the moment.
The advantage of this technique that I am using is that it allows us to identify the change of trend early so that we can capture the trend early to make more profits.
The target profit for this trade is 1.32418 which will give us a 68 pips profits. When it hits my target profit, it will get near to triggering my trend strategy. I will enter another SELL trade once it trigger the entry and for this trade, we can easily grab another 100 to 120 pips profits. I will inform you guys once it triggered my entry.
For the GBPUSD, I will look to SELL unless it move back up to hit 1.33575 level which will trigger my BUY trade.
For the GBPJPY, it is also showing the same sign of trend shifting as GBPUSD.
On the weekly chart, you can see that the price is back to test the 100 EMA resistance again
On the 4 hourly chart, you can see the formation of a possible double top which is a reversal pattern
With these 2 events, I will look to sell the GBPJPY this week unless it broke above the double top formation peak.
I hope that this analysis will be useful for your trading tomorrow.
For those of you who are interested to join my trade copier service during this special promotion period which will be ending this coming Monday, you can click on the link below for more information