GBPJPY Long Opportunity

OANDA:GBPJPY   British Pound / Japanese Yen
Come down strongly to that previous area of resistance marked out. Would wait for a re-test before entering.

Stop set using the ATR and the length of the potential signal candle. Profit target based on previous resistance levels and a 2:1 risk reward.
Comment: Seeing a retest of this area now. Looking not to be respecting this area, don't think I see an entry coming anymore, but will watch!
Comment: Well it looks to have progressed how I thought it would! We look to have gone about 3 pips past my stop on this chart but depending on your broker/platform etc it would've been a very close one and could've looked to close for some nice profit, moved your stop loss into profit or just waited it out!

Nice to see my analysis seems to be accurate so far anyway, on the right track :)


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