GBPJPY - Look for Continuation Long (Scalping) 1:3!
Updated
GBPJPY has created a new low on the HTF, indicating a potential opportunity to enter during a correction or pullback. Ensure multiple confirmations and confluences before placing a position. Avoid greed with this setup, as a bearish continuation is possible on the HTF, with the SL set at the nearest HL.
If the market is favorable, we may see the price bounce to the nearest demand zone before continuing the correction to the nearest R. Don’t chase the market. Remember, FOMO is a disease!
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
If the market is favorable, we may see the price bounce to the nearest demand zone before continuing the correction to the nearest R. Don’t chase the market. Remember, FOMO is a disease!
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Trade active
1st Round = 77pipsPrice came back to the demand zone, re-entry without hesitation. :)
Note
2nd Round = 40pipsTrade active
Price made a new L, LH. An opportunity to sell-off. Trade active
TP reached - 77pips!Trade active
Another potential sell, ride the trend (train) :)Note
Trade active
320pips and still running as per setup. Trade closed: target reached
500+ pips as forecasted. Perfect!Note
Trade active
RBS in HTF, with an order block as a confluence. Let's see how the market reacts.I would advise against taking this trade as the volume is decreasing towards the end of the week, with most retailers having already bought or sold their positions for profit-taking. Nevertheless, I am confident in my analysis.
Trade closed manually
The trade didn't go well as it broke the RBS Monthly HTF and continued to go down. Let's close this trade, take the losses, and wait for the next opportunity!
_S.Fx_
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