FX:GBPJPY   British Pound / Japanese Yen
Asia flow into London Open, 2 previous daily highs indicating there should be some strong resistance, giving stop some healthy room, likely a longer term position. Potentially looking to get another entry if price looking to move higher to fill more orders
Trade closed: stop reached: Out of this trade, selling not strong enough, looks like price breaking market structure, onto the next trade


Unlucky trade but less push on negative rates was probs the reason for so gbp positive
+2 Reply
Unlucky mate 142 could be nice to sell from
+1 Reply
nice analysis
+1 Reply
If what happened the last time a previous high was tested I would question whether your stop loss is the safest place it could be.
+1 Reply
Owen1299 StewySongs
@StewySongs, i think the last wick picked up most of the orders above the previous high, stop is there just incase it moves to pick orders, based on price action I may give the stop slightly more room :)
good analysis