GBPJPY SS Short + 101 Pip Potential

OANDA:GBPJPY   British Pound / Japanese Yen
Price is below the Daily and 15 KS (but above the 60 KS) as well as the cloud. This is a Type 2 trade with a High probability and good RRR .

Entry = Sell on a CLOSE be low the 60 KS (127.153
Stop = ??
Risk = 25 pips
Profit target = 126.12 ( The projected daily low )
Reward = Approx 101 Pips
RRR = 5-1

I would appreciate if you leave a comment or like as a thank you
Have a great week !
Trade active: This trade has been triggered and is now Active
Comment: Got in a little lower then I would have liked. Here are the trade parameters:
Entry = 127.08
Stop = 127.32
Profit Target = 126.12
Trade active: Just a point of note there is UK news coming out in a little over an hour that will directly effect this trade. There is nothing wrong, in fact it is just the opposite, with banking profit and sitting on the sideline during the news.
Trade closed manually: Going to close the remaining portion of my position here +5 Pips
Following your trades with great interest, thank you for posting them. What is your method for assessing the relative strengths of a pair when you are vetting your trades?
+1 Reply
AGold54 devonoved
@devonoved, I appreciate your support. I am actually in the process of writing a book that will explain, and walk through, my methodology exactly how I do it on a day to day basis. I believe this is going to be easier then me explaining my methodology, piecemeal, and having key parts fall through the cracks :)
@AGold54, That's great news. As a former copy editor for a newspaper and occasional freelance editor for various academic writers I'm volunteering to assist with the editing of your manuscript - if you feel the need for a proofreader/copy editor. Standing offer, no expiry and you can't beat the price. You continue to be generous with your skills and ideas, it would be a pleasure to return the favor if I can.
+1 Reply
AGold54 devonoved
@devonoved, That is greatly appreciated and I will be taking you up on your generous offer ;)
@AGold54, Awesome! Really looking forward to that.
UK news provided nice pull back for the new entry :)
+4 Reply
Great setup, I stayed out of this because of the UK economic news that are going to come out now.
+1 Reply
nice one
+1 Reply
AGold54 bonnyboy505
@bonnyboy505, Thank you :)
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