GBPJPY - BUY IDEA FOR DAILY SMALL DEMAND ZONE
No words needed here...
4 hour has been rejecting it for 4 candles already;
We are sitting in a small daily demand zone (still a demand zone);
Intraday 1 hour starting to show PA for a retracement;
We couldn't take yesterday's low so far;
Yes, Overall trend is BEARISH, but we are trading a retracement, counter-trend or whatever you liek to call it.
4 hour has been rejecting it for 4 candles already;
We are sitting in a small daily demand zone (still a demand zone);
Intraday 1 hour starting to show PA for a retracement;
We couldn't take yesterday's low so far;
Yes, Overall trend is BEARISH, but we are trading a retracement, counter-trend or whatever you liek to call it.
Comment:
I've caught some scalps, now the runners are risk-free. Let's see how it plays out...
Trade closed: stop reached:
Shit. We lost this one. Minus 13 pips.
Comment:
See the importance of a good Risk Management? This month we only lost a couple, with a maximum 15 pips SL. The winners? All +70 to 150 pips. This is an average of 8:1 RR. Money is made this way.