#GBPJPY: Long on Triple Bottom Breakout | #forex

FX:GBPJPY   British Pound / Japanese Yen
2745 44 24
Update: Trade is active
Update(25 Feb): I moved stop loss to break-even
Update: Stopped at break-even :|

Today's selloff was re-bought quickly, indicating renewed demand at lower levels, and that comes after the completion of a triple bottom bullish formation at the 200 days SMA , and a breakout above the 50-days SMA .

The main near term resistance is at the falling trend line now, we might see some intraday downside pressures where i will be looking to long a bit lower due to money management reasons.

You might noticed that this is not typical trade for me, as it has a wider target and stop loss compared to my usual trade. I am trying to be bolder and more aggressive here ;)

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Good luck, keep your stops tight..
My best regards
I need a closing above the shooting star candle now
-1 Reply
vila Technician
In 4h we have 184.90, 4 pips above, I know isn't enough
Daily close above that tail is important.
-1 Reply
vila Casey_Yeo
I'm still in this trade. When I trade with the trend, I usually have a wide SL (180.49 in this case). I have added another position this morning at 183.52, Target 1 : 187, target 2 : 189

Good luck
Lucky you.
-1 Reply
Good for you mate.
-1 Reply
vila Casey_Yeo
We will see if I'm Lucky, for moment we have to pass 185, If not......
:), wish you luck mate.
-1 Reply
vila Technician
Thanks I need!!
Mates I moved stop loss to break-even
-1 Reply
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