GBPJPY LONG ENVIRONMENT
Updated
PRICE IS BROKE ABOVE LAST MONTHS HIGH, INDICATING LONG ENVIRONMENT.
THE PRICE SHOWS BULLISH STRUCTURE ABOVE LAST WEEK'S 50%
ON THE DAILY TIME FRAME THE PRICE MANAGED TO CLOSE ABOVE THE SUPPORT FOR 4 CONSECUTIVE DAYS
ON THE 4H THERE IS A 61.8% PULLBACK WITH INDICATORS CONFIRMATING THE LONG ENVIRONMENT
BETTER THAN EXPECTED GBP VOLATILE NEWS CAME OUT AND THEY ARE NOT REFLECTING ON THE PRICE
IT IS FRIDAY BUT THE PRICE HAS BEEN IN A RANGE ALL THE WEEK SO I EXPECT A PRICE EXPANSION TO START TAKING PLACE BEFORE LDN SESION ENDS
I MAY NOT HOLD THIS TRADE OVER THE WEEKEND UNLESS STRONG MOMENTUM TAKES PLACE
64% OF TRADERS ARE SHORT ON FXSSI.COM
I'M USING THE SAFEST VARIBLE OF MY AVERAGE STOP LOSS, 70 PIPS ENDING BELOW THE STRUCTURE THAT STILL PROVIDES ME WITH A 1:3.29 RISK REWARD RATIO
RISK = 1%
THE PRICE SHOWS BULLISH STRUCTURE ABOVE LAST WEEK'S 50%
ON THE DAILY TIME FRAME THE PRICE MANAGED TO CLOSE ABOVE THE SUPPORT FOR 4 CONSECUTIVE DAYS
ON THE 4H THERE IS A 61.8% PULLBACK WITH INDICATORS CONFIRMATING THE LONG ENVIRONMENT
BETTER THAN EXPECTED GBP VOLATILE NEWS CAME OUT AND THEY ARE NOT REFLECTING ON THE PRICE
IT IS FRIDAY BUT THE PRICE HAS BEEN IN A RANGE ALL THE WEEK SO I EXPECT A PRICE EXPANSION TO START TAKING PLACE BEFORE LDN SESION ENDS
I MAY NOT HOLD THIS TRADE OVER THE WEEKEND UNLESS STRONG MOMENTUM TAKES PLACE
64% OF TRADERS ARE SHORT ON FXSSI.COM
I'M USING THE SAFEST VARIBLE OF MY AVERAGE STOP LOSS, 70 PIPS ENDING BELOW THE STRUCTURE THAT STILL PROVIDES ME WITH A 1:3.29 RISK REWARD RATIO
RISK = 1%
Trade closed: stop reached
-1%GBP Ignored the good news
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