GBPJPY (continuation): I think this is it

2019-11-23 21:26:39

The price still has not made a lower low it is still in this sort of rectangle here:
https://www.tradingview.com/x/DEdG3cqq/

But I got the feeling it won't go back up yet, distribution is over and further downside is to be expected.

Price might bounce on MA200 this pair often did this lately, but I expect it to go below eventually.
I am not moving my stop loss and still want to double up if the price revisits the upper area.

https://www.tradingview.com/x/9YrqFTRy/

It always bounces around that MA:

https://www.tradingview.com/x/GyivVYle/

https://www.tradingview.com/x/BhAuesl3/

https://www.tradingview.com/x/65rZF7f7/

Nooooo
https://www.tradingview.com/x/Igokw66x/

I fully expect the price to downtrend in a very choppy way, I am maintaining the short and let it go back against me on the way down.
I also fully expect the price to accelerate down, after being consolidating in a tight distribution type range for so long.

So either way I'm not surprised.

Something like this would be so huge:
https://www.tradingview.com/x/xhbZOMAD/

Probably won't get that lucky, but something like this would be so great. That's a quarter maker right here. Semester maybe even.

https://www.tradingview.com/x/JvoxQDd4/

Anyway as we all know the pound is going to zero. Right?
The UK will not survive not taking millions of wellfare refugees in, and sending billions to Greece & other failed countries.
Once they live the EU their ECONOMY WILL COLLAPSE.

So might as well stay short as long as every one believes that if the price action allows it.

It is not huge but also, the interest being what it is, if the price does not downtrend for a while, it is not worth holding this:
Date Symbol Long Carry Short Carry
2019-11-01 GBPJPY -0.093% -1.940%

Not that it makes a huge difference. 2% can be significant in a year:
https://www.tradingview.com/x/F42C6tl0/

Why hold if it does not trend thought.

I just like to know I am getting interest and not leaking money out, even if it makes a small difference (the difference gets bigger the lower your PF is watch out).