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seekingpips
Feb 16, 2021 8:31 AM

GBPJPY Breakout Analysis - Forecast GBP Buy Long - JPY Sell Long

British Pound/Japanese YenFXCM

Description

Our Currency Heat Map tells us to stay Long GBP.

Still being the strongest Major currency we see no reason to be short the British pound, we are therefore pairing it with JPY which remains the weakest of the Major currency pairs for today's trading in the Forex Market.

Buy using our propriety currency Heat Map filter it allows us to easily pair the stongest vs the weakest FX currencies
Comments
Rtradez
Your heat map is wrong then ,it will surely fall hard no doubt
seekingpips
@Rtradez, That maybe so, However when in trend following mode we do just that.

After over 400 pip gain since our initial trade idea that we shared, and bias it is inevitable that we will not exit at the very best high that is the nature of trend following.

Alternatively as we always say in our video descriptions the reversal trader can use the map as a guide to identify pairs at their extremes and trade them back to the mean.

Have a great trading week.
@seekingpips
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