GBPJPY Role Reversal Level Holds & Profits | Apr 4th
GBPJPY – Role Reversal Level Causes Strong Sell Off and Profit
Yesterday in our daily market commentary from April 3rd, we suggested selling the GBPJPY at the role reversal level of 172.50, as the pair was forming (in our view) an LH (lower high).
Today the pair sold off heavily from the level, never going above it, dropping over +130 pips from here, so hopefully you profited from this trade setup that never went negative.
Traders not already short can look to get short at 172.15, while more aggressive bears can look to get short at 171.80 on weak corrective pullbacks.
NOTE: If you were waiting for a price action signal or pattern to get short, you would never had profited from this trade setup.
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