GBPJPY longs

Here's why;

• - 189.5 monthly targets not yet reached
  
• - Since the monthly target's are not yet achieved, all price is doing is going to areas of liquidity to collect orders before the uproar.
  
• - Major daily level has been tested at 185.15.
  
• - There is also an M formation on the daily formation and it is yet to be retested.
  
• - All the confluences are pointing towards the fact that price is bullish.
  
• - Entry point @ 185.65 since it is a major level of liquidity before the uproar
  

Comment:

Entry point achieved.
Waiting for a bullish setup.

Order cancelled:

There is no bullish setup hence no trade whatsoever

Comment:

Just seen that there are high impact PMI news today and are being released in an hour.
I believe that price is simply gathering orders before the uproar

Comment:

I do not plan trading around news.
I will be more profitable long term if I avoided it

Trade active:

Entered after a massive bullish engulfing candlestick on the one hour.
Holding this trade until 189.5 for 380 pips

Trade closed manually:

My intuition knows that price is going against me so I left the trade