GBPJPY SS Short + 88 PIp Potential
Price is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 136.23
Stop =136.43
Risk = 20 pips
Profit target = 135.35 ( The projected daily low )
Reward = 88 Pips
RRR = 4.5-1
2nd Entry = 135.50
Stop = 135.80
Risk = 30 pips
Profit target = 134.60
Reward = 90
RRR = 3-1
2 Potential entries (it is one or the other, not both)
Entry = 136.23
Stop =136.43
Risk = 20 pips
Profit target = 135.35 ( The projected daily low )
Reward = 88 Pips
RRR = 4.5-1
2nd Entry = 135.50
Stop = 135.80
Risk = 30 pips
Profit target = 134.60
Reward = 90
RRR = 3-1
Comment:
The BREAK-OUT ENTRY (135.50) on this set-up is on HOLD. The GBP pairs are showing strength, until that changes we will only look to take the pullback entry at 136.23
Order cancelled:
This trade was not triggered and our window is closed. Accordingly this trade is cancelled.