GBPJPY [1-3 weeks view]
Updated
Short GBPJPY
Entry: 136.810
SL: 138.680
Clean, Simple, Concise. That's how I like my charts.
Price has been trending downwards.
Despite price gapping lower and making a new low, price came back to cover the gap. This was to be expected as gaps are generally covered. This provided me for a re-entry to go with the trend.
I currently see price forming sort of a flag pattern which is a continuation pattern. Should price break below I would add to my positions to compound the profits. Further, price is holding nicely below it's natural moving average.
This trade has a very nice risk/reward profile.
Entry: 136.810
SL: 138.680
Clean, Simple, Concise. That's how I like my charts.
Price has been trending downwards.
Despite price gapping lower and making a new low, price came back to cover the gap. This was to be expected as gaps are generally covered. This provided me for a re-entry to go with the trend.
I currently see price forming sort of a flag pattern which is a continuation pattern. Should price break below I would add to my positions to compound the profits. Further, price is holding nicely below it's natural moving average.
This trade has a very nice risk/reward profile.
Trade active
Price has closed below, confirming flag pattern. I have added to my position.Trade active
TP 1 reached. Closed out half of my position and time to let the rest of the position run to the final profit.+3.08%
Trade active
Trade moving along very nicely.Protected my position now. Even if price were to come back up, it'll still be overall profitable.
Trade closed: target reached
Final target reached!That was a great run!
+5.41%
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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