GBPJPY SS Short + 177 Pip Potential

Short

British Pound / Japanese Yen (OANDA:GBPJPY)

Updated

OANDA:GBPJPY British Pound / Japanese Yen

supportandresistance mtfa indicator ichimokukinkohyo ichimoku_trader breakout gbpjpy gbp jpy multipletimeframe

Price is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 127.62
Stop = 127.82
Risk = 20 pips
Profit target = 125.85 ( The projected daily low )
Reward = +177 PIps
RRR = 8.85 - 1
2nd Entry = 126.48
Stop = 126.78
Risk = 30 pips
Profit target = 125.85 ( The projected daily low )
Reward = 63
RRR = 3-1

I would appreciate if you leave a comment or like as a thank you
Have a great week !
Allen

Order cancelled:

Although it was anticipated that GBP would retrace today, it did not pullback to our entry and the the continuation down has started. Primarily because of JPY strengthening. breakout trade is no longer viable either as their is no correlation with the other GBP pairs.

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