Yummy yummy pips. Give me more pips, cried Ren
I don't trade GBPJPY much, but this looks nice to me. Of course... this could be the exact opposite. It all depends on these purple lines.
I have a buy position open right now, but mainly waiting for the sell signal. Breaking the red line is a clear sign that we will continue moving down the current bearish channel.
Putting a small position on here. If we break convincingly above .5 (midway) in channel, then look to close the trade. See related ideas for some of previous trades.
It's always good to have different versions of the same trade to confirm your ideas.
Looks like we are approaching a good place to sell. If the top of this channel breaks, then the top purple line will be the selling point.
Last short made some good profits. Looking to squeeze some pips out while we wait for more short opportunities. I would say if the purple structure breaks down then continue shorting it. Maybe some call this scalping. I forget :)
So we are back to where we were on Tuesday. A break of the black trend line is my entry to sell. A convincing bounce is my entry to buy... I'm waiting for the sell.
Yesterday the price moved back into the previous sideways channel, but still hangs on inside the down channel. A break upwards from the down channel should be a good place to buy. And likewise a break back out of the sideways channel is a good place to sell. We can only stay within one of these channels. So it is best to see which one before committing to a...
Red is resistance, green is support. Reds become greens if price goes above and vice versa. Solid green lines are my targets.
Hit target in the last short bang on (see related). Time for another one. Took the trade before posting the chart. Placed entry at the price I entered. Good luck.
An update on the previous short, SL moved to continue the trade.. But this can be taken as a new trade as well. Breaking above this mini structure is a good time to call it quits and/or switch to a long position.
Haven't been here or posted anything in a while. I take too many vacations to keep up with this... But here is an easy trade. Took it before I drew the chart. Enjoy.
Didn't wake up on time to post the early morning long trade. But it has took another one anyway. I have a nice day out planned so I may not be able to update the close of this position on here in time, but I will do it whenever I get back. Enjoy