GBPJPY Long
Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 7.4%
Reasons for Entry: Broke above a long term bearish TL, so has a bullish bias. Making higher highs and lower lows, set order right above the 61.8% bullish fib level, which also corresponds closely with a bullish TL bounce.
Reasons for SL placement: Below the bullish TL, and below the 78.6% fib level.
Reasons for TP placement: Right below the -0.27 fib extension level.
Execution Timeframe: 4H
Risk: 3%
Reward: 7.4%
Reasons for Entry: Broke above a long term bearish TL, so has a bullish bias. Making higher highs and lower lows, set order right above the 61.8% bullish fib level, which also corresponds closely with a bullish TL bounce.
Reasons for SL placement: Below the bullish TL, and below the 78.6% fib level.
Reasons for TP placement: Right below the -0.27 fib extension level.
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.