GBPJPY D1, Long TCT opportunity after retracement to structure Long

British Pound/Japanese YenFXCM

Description

⋅ Oct 5, 2017 7:17 AM

I'm watching this special pair, called "The Beast" for a couple of days.
The idea is to enter into a long trade, after the price has retraced to former structure. Since the price is rallying the trade would be a trend continuation trade.
Although it seems to be hard to find a valid SL level it offers a pretty good RRR.
Happy to read what you guys think.

Comment

⋅ Oct 6, 2017 12:22 PM

Trade active @148.16

Trend Analysis TCT

Comments

trendQ8

⋅ Oct 8, 2017 11:00 PM

Is it a chance to buy now ?

Murodjon

⋅ Oct 6, 2017 9:56 AM

is it time to enter?

Quantum007

⋅ Oct 6, 2017 3:44 AM

I'm watching this trade, glad to have same ideas with you. Looking for nice Risk Reward with this.

Sailosi

⋅ Oct 5, 2017 4:24 PM

Good work. I agree on catching the Beast at the bottom of the present drop though it has been taking its time consolidating and retracing. In fact that I'm in a sell at the moment to end at 147. A classic case of buy low sell high is on our horizon and like you I'm following this pair with much interest.