GBPJPY RANGE REJECTION
Updated
GJ has finally come a retest my previous zone from last week. Although i caught a sell move friday price never actually retested the zone like i normally would wait for before entering.
Now that price is finally retesting the zone I'm anticipating a close within it and then a move right back to the down side.
My zone is about 50 pips wide which is why i waited for a entry around 182.140. I'm risking 35-40 pips to catch 100-150pips. As long as price doesn't close above that zone i will consider the sell valid.
If price closes above 182.500 i'll begin to look for buy moves instead.
RR: 4.50
Now that price is finally retesting the zone I'm anticipating a close within it and then a move right back to the down side.
My zone is about 50 pips wide which is why i waited for a entry around 182.140. I'm risking 35-40 pips to catch 100-150pips. As long as price doesn't close above that zone i will consider the sell valid.
If price closes above 182.500 i'll begin to look for buy moves instead.
RR: 4.50
Trade closed: stop reached
I got stopped out of GJ. I re-entered when price broke the zone again and was able to secure 60 pips. That recovered losses and secured 25 pips of profits.Price then broke above the zone and gave a push like i said it would if we got the close above but i was busy and couldn't catch my buy entry.
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