GBPJPY - Bullish piercing signal at H-support

FX:GBPJPY   British Pound / Japanese Yen
165 1 5
Good long opportunity. A bullish piercing signal has formed at a low with some good potential for upside to the top of the wedge .

I missed an opportunity to enter on break of the short term down trend which would have doubled the RR, but there's still a good 2R profit here with a very safe SL below the signal. A less conservative SL would be around 130.4 but with a lot of US news out later today, we could expect to see some volatility across all pairs.
Order cancelled: I decided to close out this trade. Sterling's situation has changed somewhat since when the trade was identified. GBP is very bearish against just about every pair and this pair looks like it could be in a descending wedge. Every time price reaches 131.30 bears push the price down swiftly again.
good job.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out