makindiilete
Long

SUPPLY/DEMAND SMA 200 INSIDE BAR REVERSAL SETUP ON GBPJPY

FX:GBPJPY   British Pound / Japanese Yen
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https://prntscr.com/hoyl0i
* SMA 200 dynamic support and demand zone confluence detected
* Price entered the support confluence zone and touch both the demand zone and SMA 200 before reversing.
* Price reversed failing to make a successful bearish breakout of the zone and SMA 200 {i.e. we didn't print any candle that its complete range doesn't touch the confluence} and form a bullish inside bar price action
* ENTRY :- Pending order at the high of the inside bar breakout candle
* STOPLOSS :- SL to be set at the mother bar low below the sma 200
* TARGET :- 2:1 RRR
* TRADE MANAGEMENT :- Move stoploss to breakeven at 150% profit i.e 1.5:1 RRR


Trade active: The trade is working out and we are up by 55pips+ on the trade.......
I will be reducing my overall risk on the trade by half as soon as price gets to 151.08 {77pips} then i will reduce all the risk to breakeven at 150.43 (116pips) and we will look exit the trade at our final target............
Comment: Trade working out nicely, we are already above 77 pips now and stop loss has been reduced from - 77 pips to - 39 pips.
Comment: We are up by 110pips, we are now at 1.5:1 Reward to Risk Ratio and our stop loss has been moved to breakeven. The trade is now risk free as we await our final target
Trade closed: target reached: Trade finally closed in profit.
Congrats to those who took the trade.
On to the next one.
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