FX:GBPJPY British Pound/Japanese Yen
short GBPJPY on target 178
Thank you for your comment. I understand that statistically it is better to be long has the trend is uptrend. However, I have decided to take the risk because the market has failed above 184 the last 8 days and todays breakout has failed. In addition to this the last resistance is at 6 times my risk which provides a nice risk reward. I am a trend follower but on nice daily pin bar like this I like to risk a counter trend trade. Let's keep up on this ;o).