Long

GBP/JPY - Trade #8

Updated

Certainty - High
Risk - Reward: Good
I have risk of 1% and I find this to be a great position. I've been waiting for it for about 20 days.
It's all planned out from before.

Good Luck, Trade Well

Comment

Actually I find this trade very certain. I have 2% risk which is the most I risk on a position. I see 5 wave impusle down then followed with 5 wave move up which leaves us with 2 possibilities an Impusle higher or a zig zag(most likely) It appears to be safe bet. I'm looking for an opportunity to limit the risk now and to add to the position. Good Luck Trade Well

Comment

This seems like more complete analysis, but the important thing is that we have 5 waves down followed by 5 waves up, which provides us with a safe stop loss that brings the certainty of the trade to the sky.

Comment

New plan:
I have 2% risk right now. I will cut my position by 0.7% risk when we hit (IV). When and if the market moves one wave lower i Will risk my little profits that i took plus 2.7% of my capital which makes a total risk of 4% this is double but this setup seems like an A++ and considering the fact that I planned it out and waited for it for about a month makes me feel certain about it.
Good Luck, Trade Well

Comment

In case the market just keeps going higher when i cut my 0.7% It won't be a big deal we still make profits and still have the opportunity to add to a position, it won't be great as the other scenario but there's nothing comes without risk.

Comment

As planned Took profit for 0.7% and now waiting to buy lower with more risk

Comment

I sold all of my position, which is a little risky but I'm kinda convinced that we will see one more wave lower. And on top of that with the little profit I made I put sell limit order @ 144.30 / SL @ 144.50
Risk - Reward 1:5
Certainty: Okay

Comment

There is still a good buy for those who missed out
not so great Risk-Reward but it's still a good trade
And it's great for those who held the position at from the beginning
Time to Reduce the risk and move the SL

Comment

Move SL @ 144.30
Good Luck, Trade Well

Comment

I'm extremely certain about this long position which makes me risk 2% of my capital

TAG-Strategy-Trading

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