GBPJPY Possible Long Opportunity as Resistance Broken
Updated
Finally GJ is able to break the Resistance of 133.555. This level should work as Resistance now. GJ also broken a downward channel as indicated in the chart with a strong move. It is also above the 100 period and 200 period EMA line. So it now has a possible Long opportunity unless some fundamental economic news/situation changes it courese otherwise
Open Price: 133.78
TP1: 134.82
Total 104 pips. This level should be achieved in this week (3rd Jul 2020). After this level I'll close 50% of my inital lot.
TP2: 135.78
Total 200 pips. This level should be achieved in next week (10th Jul 2020). After this level I'll close 80% of my initial lot. On the other hand I can close all my open position at this level - this all depends on market condition of that time.
TP3: 136.67
Total 289 pips. Whether this level will be achieved or not depends on many other factors. So If I decided to keep open my initial 20% lot after 10th July then I'll probably close everything in this lavel. This is a soft call at this point
SL: 133.20
Open Price: 133.78
TP1: 134.82
Total 104 pips. This level should be achieved in this week (3rd Jul 2020). After this level I'll close 50% of my inital lot.
TP2: 135.78
Total 200 pips. This level should be achieved in next week (10th Jul 2020). After this level I'll close 80% of my initial lot. On the other hand I can close all my open position at this level - this all depends on market condition of that time.
TP3: 136.67
Total 289 pips. Whether this level will be achieved or not depends on many other factors. So If I decided to keep open my initial 20% lot after 10th July then I'll probably close everything in this lavel. This is a soft call at this point
SL: 133.20
Note
Due to a bit of unexpected move Changing SL to new SL 133.00Note
Comment: Still hopefull about LONG so changing SL to 132.88 (Current price point 133.02)Note
Currently running with 65 pips profit.Move SL to 133.92 (14 pips profit)
Note
Move SL to 134.04 (26 pips profit)Note
Move SL to 134.20 (42 pips Profit)If SL hits then we'll probably re enter in this LONG trade again from lower price.
As I am generally open big lot so 42 pips is a good money for me to take in
Note
Good Move.. Move SL to 134.40 (62 pips profit)Note
Closed in 62 pips Profit by SL. I'll re enter into LONG again. Waiting for best price to jump inTrade closed: target reached
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.