GBPJPY - Been long and has now come to target - dashed blue line
Now at resistance = blue dashed line, have exited my long from 131 at 138.86, now i'll wait and see over the next few days it's close.
I'm now looking for a pull-back to the 132.5 area, possibly lower to the 130./129.5 area and i will start to scale in with a new long positions at the 132.5 and lower as per the above.
My long target is 145/146 area.
Would look to take 1/2 profit off at 142.5 and let the rest run to my final target at 145.
I'm therefore waiting on a break through of the blue dashed line at 138.6 to include for a break through the dashed red line which is longer term resistance, a break above this dashed red line, then i'm more than confident that we'll see the target being reached.
I'm now looking for a pull-back to the 132.5 area, possibly lower to the 130./129.5 area and i will start to scale in with a new long positions at the 132.5 and lower as per the above.
My long target is 145/146 area.
Would look to take 1/2 profit off at 142.5 and let the rest run to my final target at 145.
I'm therefore waiting on a break through of the blue dashed line at 138.6 to include for a break through the dashed red line which is longer term resistance, a break above this dashed red line, then i'm more than confident that we'll see the target being reached.
Trade closed: stop reached
Now looking for this to re-trace to areas as previously stated in opening comments above.
Tight stop set at 13900.