GBPJPY 138.94 -0.16 % LONG IDEA * STRUCTURE & PRICE
Hey everyone
Hope you're having a good one here's a look at the POUND YEN looking for structure to hold on this pair from the daily chart as on higher time-frames the pair is net long just broke out of a descending channel looking for momentum to rise with the bulls. On the daily looking for longs on the pair
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Hope you're having a good one here's a look at the POUND YEN looking for structure to hold on this pair from the daily chart as on higher time-frames the pair is net long just broke out of a descending channel looking for momentum to rise with the bulls. On the daily looking for longs on the pair
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
