GBP/JPY impulsive-consolidation-impulsive

FX:GBPJPY   British Pound / Japanese Yen
223 3 6
We're following the GBP/JPY             consolidation on the 1H. This after an explosive bull wave upwards, our bias is surely to the upside, and we're buyers on a break of the consolidation zone, with a stop just below it, risk on the trade will be around 43 pips, with a plan for trailing stop and going for a longer term target.
I've been long since 186.2 and just trying to determine if time to get out or stay in
+1 Reply
SamKent JeepsonTrading
Nice position :) I think there's no reason to exit, at least not before this consolidation zone actually breaks to the downside.
if price falls below the daily 20 SMA line then I would probably consider closing my position, it's been a nice ride on the back of bulls but at the first sign of a bear I'm out haha
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