GBPJPY - Short Setup!! (Upcoming reversal!)
Even though I highly recommend, leaving your feeling out of trading but for some reason, from this Setup I'm getting Short trade Vibe!
It looks like the price has broken the trendline, tested it, and now its time for a reversal!
As you can see from the chart, my Risk to Reward ratio is 1:2.
For the SL, the reason for its width is to give the trade some space to breathe before heading downward. Especially if there are any wicks!! Watch out for the Wicks!
And for TPs, we are looking at 142.8 area. As most of you know, I do not use TPs so much as I don't want to limit my gains. So, after certain limits, I put Trailing Stoploss for gaining maximum profit.
As always, Risk Management is the key, belief in your setup (or in this particular case "My setup"!) Never risk more than 3% of your account size.
Other than that, enjoy your day and have fun!
Mr. Grateful. :)
It looks like the price has broken the trendline, tested it, and now its time for a reversal!
As you can see from the chart, my Risk to Reward ratio is 1:2.
For the SL, the reason for its width is to give the trade some space to breathe before heading downward. Especially if there are any wicks!! Watch out for the Wicks!
And for TPs, we are looking at 142.8 area. As most of you know, I do not use TPs so much as I don't want to limit my gains. So, after certain limits, I put Trailing Stoploss for gaining maximum profit.
As always, Risk Management is the key, belief in your setup (or in this particular case "My setup"!) Never risk more than 3% of your account size.
Other than that, enjoy your day and have fun!
Mr. Grateful. :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.