GBPJPY Possible Long Opportunity as Resistance Broken
Finally GJ is able to break the Resistance of 133.555. This level should work as Resistance now. GJ also broken a downward channel as indicated in the chart with a strong move. It is also above the 100 period and 200 period EMA line. So it now has a possible Long opportunity unless some fundamental economic news/situation changes it courese otherwise
Open Price: 133.78
TP1: 134.82
Total 104 pips. This level should be achieved in this week (3rd Jul 2020). After this level I'll close 50% of my inital lot.
TP2: 135.78
Total 200 pips. This level should be achieved in next week (10th Jul 2020). After this level I'll close 80% of my initial lot. On the other hand I can close all my open position at this level - this all depends on market condition of that time.
TP3: 136.67
Total 289 pips. Whether this level will be achieved or not depends on many other factors. So If I decided to keep open my initial 20% lot after 10th July then I'll probably close everything in this lavel. This is a soft call at this point
SL: 133.20
Open Price: 133.78
TP1: 134.82
Total 104 pips. This level should be achieved in this week (3rd Jul 2020). After this level I'll close 50% of my inital lot.
TP2: 135.78
Total 200 pips. This level should be achieved in next week (10th Jul 2020). After this level I'll close 80% of my initial lot. On the other hand I can close all my open position at this level - this all depends on market condition of that time.
TP3: 136.67
Total 289 pips. Whether this level will be achieved or not depends on many other factors. So If I decided to keep open my initial 20% lot after 10th July then I'll probably close everything in this lavel. This is a soft call at this point
SL: 133.20
Comment:
Due to a bit of unexpected move Changing SL to new SL 133.00
Comment:
Comment: Still hopefull about LONG so changing SL to 132.88 (Current price point 133.02)
Comment:
Currently running with 65 pips profit.
Move SL to 133.92 (14 pips profit)
Move SL to 133.92 (14 pips profit)
Comment:
Move SL to 134.04 (26 pips profit)
Comment:
Move SL to 134.20 (42 pips Profit)
If SL hits then we'll probably re enter in this LONG trade again from lower price.
As I am generally open big lot so 42 pips is a good money for me to take in
If SL hits then we'll probably re enter in this LONG trade again from lower price.
As I am generally open big lot so 42 pips is a good money for me to take in
Comment:
Good Move.. Move SL to 134.40 (62 pips profit)
Comment:
Closed in 62 pips Profit by SL. I'll re enter into LONG again. Waiting for best price to jump in
Trade closed: target reached