winnie144
Long

GBPJPY late Long SetUp

FX:GBPJPY   British Pound / Japanese Yen
GBJPY put series of higher lows indicating potential bullish trend .
Weekly Time Frame confirms the possibility of decent uptrend.
Entry is based on 4-hour time frame, yes, little bit late.
Also second high is not higher than the previous one.
Risk/Reward ratio is quite decent although I do not expect to rally fully to the top.
Important is to keep in mind that the trade was entered late, it is almost third move high and highes did not rise as should.
However, I see a decent opportunity to try to ride the wave little bit longer before it potential defeat by bears.
The trade should be little bit more demanding in the aspect of checking the situation because above stated entry situation.
We shall see what would happens.
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