GBPJPY [1-3 weeks view]

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.

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%