⚡️Weekly Recap and How I caught 200 pips/ 1:8 RR on GBPJPY⚡️
Hello Traders
Firstly congratulations to everyone who participated in the GBPJPY/GBPUSD bull run✨
Now to get to how I caught wind of the move
1. Firstly, I the W formation commonly known as the double bottom, but in this variation, price does not retest the previous low thus signaling that the bulls are now in control
This is my favorite pattern as it gives the most in terms of risk to reward
I saw the W forming on the h4 pattern and I waited for price to break the high with the support level
-I then switched to a smaller timeframe to get a nicer entry and that trade played well
2. Secondly, I used the breakout strategy, and the market broke the support, that was my cue to go long
I hope someone gets a thing or two from this post.
Any questions suggestions etc are welcome
✨The idea is linked below✨
Slick⚡️
Firstly congratulations to everyone who participated in the GBPJPY/GBPUSD bull run✨
Now to get to how I caught wind of the move
1. Firstly, I the W formation commonly known as the double bottom, but in this variation, price does not retest the previous low thus signaling that the bulls are now in control
This is my favorite pattern as it gives the most in terms of risk to reward
I saw the W forming on the h4 pattern and I waited for price to break the high with the support level
-I then switched to a smaller timeframe to get a nicer entry and that trade played well
2. Secondly, I used the breakout strategy, and the market broke the support, that was my cue to go long
I hope someone gets a thing or two from this post.
Any questions suggestions etc are welcome
✨The idea is linked below✨
Slick⚡️
Trade active
Trade closed: target reached
