Update for GBPJPY sell trade plan

FX:GBPJPY   British Pound / Japanese Yen
Hi Traders,

Just a quick update from my previous post, been waiting for this trade more than a months. and it's looks like there is no more demand on this pair. and wait for the supply to come around to make the breakout possible.
Been busy with my main job, but i hope i can catch up with this trade when the price is breaking out to the downside.

My hands is pretty itchy from waiting and I just want jump into sell trade, but need to control myself and keep up with my breakout strategy plan.
Hope you also patient to wait for the price to breakout since in my experience, waiting for breakout is better than jump into trade directly.
No breakout no trade for me. if missed the breakout - hope i can catch when the price make some correction or no trade for me T T.
I know the plans seems hard and need to have a self control. but this is trading and i don't want to risk my money more than it should.

So Good Luck and hope you catch this one if the Price is breaking to the downside.
hi , good-morning

i need your advice please :

I have buy orders of different levels:


Is there hope of ascension again?to 15377

First of all i just want to let you know that i'm looking more to the downside rather than the upside.
and the way we trade is different, you are more like day trading and i'm more into swing trade or longer time frame.

So if i may answer about your question "is there hope to ascen again?"
yes there always a probability to make correction and retrace back to when the price is broke out.
In this situtation, i do believe in your time frame which if i'm not mistaken is hourly. the breakout area in this case is around 154.400.
What i suggest you to do:
1. there are close trade point which is good for you to close all your trade at slightly below 153.700 and 154.400 because the price usualy retrace back to where it broke out. and we also have nice resistance there. and more over you will have enough profit i think.
2. There is slight chance that the price will go to make higher high. but it is not worth the risk, because when the price is going down. it will go down hard. so you need to be careful on this one.

A bit of advice for you and hope you are not mad with it, since this is your precious money that you are risking. in the next time if you have profit from this trade. please refrain to do this many entry position. sooner or later will hurt your account. most of the profesional trader are happy with risking only 1-3% of their account for open trade. occasionaly 5-10% if they really get super good chances with a good risk and reward ratio such as 1:5.

Good Luck and Trade wisely
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