Although GBP remains Strong, it does appear to be slowing down. As GBPJPY approaches Daily Resistance at 149.26, it appears to be losing strength. what I would like to see, is a consolidation near the resistance and then a move down through the Cloud. As this trade is still several hours away from setting up, I cannot provide an entry, Stop loss or Take profit levels at this time
Trade active
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After the Cloud Breakout, pair pulled back to the Kejun Sen, which offered a very good entry opportunity. Entry = 149.15 Stop = 10 pis (+ 2 for spread) above prior high = 149.61 Risk = 46 PT= Rx5 = 146.85
Trade active
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Had a nice push down to 147.95. Have over 80 pips in the trade at this time. Moving my stop loss to flat. Also because it is Friday and I am not a big fan of holding trades through the weekend. If the market comes down to retest the lows today I will close out at 148.10
Trade closed manually
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Since I don'y like to hold trades into the weekend I am going to close this trade here at 147.63 for + 152 pips :) Have a great weekend
Trade closed: target reached
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Even though I closed the trade on Friday, it is important to note that the trade made it's profit target :)