Counter-trend buy idea for GBP/JPY based on previous low,anyone?
Hello traders and the entire Tradingview community! As per my previous idea published
on 12 December 2023, GBPJPY has indeed moved to the 178.50 level as I had anticipated.
Now, the big question is, should we buy it? Idealy, we should not buy falling knives as they say However, the scenario seems a little different here.
With this fall being partially driven by the Fed decision last night and also relatively lower volumes, we can consider doing some buys with small lots here. As an aggressive trader, I have already bought GJ@178.53 with a TP of 182. No SLs yet, but I would be careful if prices breach this zone.
on 12 December 2023, GBPJPY has indeed moved to the 178.50 level as I had anticipated.
Now, the big question is, should we buy it? Idealy, we should not buy falling knives as they say However, the scenario seems a little different here.
With this fall being partially driven by the Fed decision last night and also relatively lower volumes, we can consider doing some buys with small lots here. As an aggressive trader, I have already bought GJ@178.53 with a TP of 182. No SLs yet, but I would be careful if prices breach this zone.
Note
Running in 40 Pips profit but still very volatile, trade safely friendsNote
67 Pips profitNote
Trade has reached 147 Pips profitNote
210 Pips and today's daily candle might signify reversalNote
Trade closed partially with 307 Pips profitNote
Losing a little momentume here
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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.