FX:GBPJPY   British Pound / Japanese Yen
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2
Price rejection on 4hr timeframe - makes for a nice R/R

we are short from 136.310 and will be looking to build on this position if price edges back into that kind of area.
Comment: Another beauty! 7:1 RR!!!

We may look to close some of this manually at around 135.150 depending on how price reacts to that area

We had a few losers at the start of the week (NOTE AS PER THE COMMENTS / DESCRIPTIONS WE DIDNT TAKE ALL TRADES - for some it was a case of doing some analysis and then looking to catch the trend once it unfolds, if our analysis is wrong, no bother because we didnt get into the trade!)
Comment: Very narrowly avoided getting stopped out there in the early hours of this morning!
Comment: 135.450 Was TP1 - apologies its not on the chart

hoping this will hit TP2 (marked area on chart) today - if not we will likely close manually as dont like holding over the weekend!
Comment: Taken some more profit around 135.450 area - a per previous price action it bounced up from this area recently (and its Friday so we want to lock in winners rather than watch the charts late into the day!)
Trade closed: target reached

Comments

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