GBPJPY - Watching for the Pending Buy at 140.40
The Pound Yen is in an upward bullish movement toward the north. I am waiting for the market to come down to the Daily D extension and hit the trendline, where I will expect a bounce north into 151.38. The daily time frame is in the buy zone above the up trendline and is now moving bearish to form a low price. After turning to the one hour time frame, place a buy order at 140.40 and we will start buying counter trendline breaks bullish to the Daily D up price at 151.38 which is about 890 pips away. My trading class will be adding to the trade at the 618 pullbacks all the way to the target.
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I have entered on mini lot to begin and as the Uturn comfirms, I will add the positions. That is what we always do with orders that are based on specific price entries especially with the turbulent activity on pounds today... I will watch for confirmation and add on the way up. Thanks!
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Running one of them long. Let's see what this does on this support and then we can add. 40 pip stop from right here right now at 140.25
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RUNNING 3 OF THESE FROM 140.30. Break 142 and 144 and look for the targets up above 151. I am going to just leave my positions in right now with the stop below that lowest point. Since tomorrow is Friday, this is likely a great trade for next week.
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I've added at 141.57 go to 144.00 the stop is at 140.15 Thanks!
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174 pips above the entry. Take one off. Pull to break even. Your stop needs to be at 140.15 for the more recent entry. Thanks!
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Added to this position just now at 4:30 New York time on Wednesday evening. Set a 2:1 and look for 14250 tonight...
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I am added again on this. The trade last night had to sustain drawdown but hopefully we will be OK during Asian set up
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Staying into 151.38 We have enough room in front of us. Pulling to break even.
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Taking one off from my entries at 14154.. The first ones are off. Currently carrying 5 major lots.
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We broke through this resistance.... safe to add north of here... I am added from 14550 and leaving over weekend. You guys have a great one. There is no class next week as we are celebrating the July 4 holiday all week but we will return on July 10. Thanks!
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I have reentered Pound Yen as of this morning. This is a light pullback trade. Target 145. stop below 142.5