GBPJPY - 4 Hour Long Trade - 4 to 1 WIn vs Risk
Updated
Hello all - DuncanForex here with another trade idea
After a slow price action mid week last week - the Thursday "inside day" daily candle on GBPUSD resulted in GBP falling lower to the 1.2480 area which i went long on on Friday evening.
Holding over the weekend - that has continue to play out nicely and now I'm getting in on another GBP pair matched with JPY.
I expect this to cycle higher over the week and have opened multiple positions.
Although the NFP was strong on Friday - Monthly price action tells me that USD is overall weak and although short term sentiment went against me, the overall trend is Up on XXX USD pairs and down on USD XXX pairs.
Website coming soon
Thanks for looking
Duncan
After a slow price action mid week last week - the Thursday "inside day" daily candle on GBPUSD resulted in GBP falling lower to the 1.2480 area which i went long on on Friday evening.
Holding over the weekend - that has continue to play out nicely and now I'm getting in on another GBP pair matched with JPY.
I expect this to cycle higher over the week and have opened multiple positions.
Although the NFP was strong on Friday - Monthly price action tells me that USD is overall weak and although short term sentiment went against me, the overall trend is Up on XXX USD pairs and down on USD XXX pairs.
Website coming soon
Thanks for looking
Duncan
Trade active
Trades live - some sideways action however if the 10am BST candle closes bullish - I will take additional entriesTrade active
Trades still live however will GBP strength be enough to overcome the YEN?Trade closed: stop reached
Trades stopped out overnight. re-entered at 135.38 this morning on the 4hour chart
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