UPDATE ON GBP/JPY TRADE
GBP/JPY 4H - As you can see this pair has played out exactly the same, telling us that there is weakness across the board with the Japanese Yen. I am wanting to see this weakness come to an end.
You can see the area we have marked out above, giving us an area we could look to take profit from. Once price trades in its important we look to take profit and prepare for the down move.
This trade is currently running + 69 pips. (+ 2.8%) 2.8RR
If price continues to trade through this area and absorb price then that would give me the impression that price may want to trade higher up and into the last buy to sell region above before moving lower.
Its important we wait for all pieces of confirmation before we look to execute any trades we are wanting to place, giving us the highest probability of being successful.
You can see the area we have marked out above, giving us an area we could look to take profit from. Once price trades in its important we look to take profit and prepare for the down move.
This trade is currently running + 69 pips. (+ 2.8%) 2.8RR
If price continues to trade through this area and absorb price then that would give me the impression that price may want to trade higher up and into the last buy to sell region above before moving lower.
Its important we wait for all pieces of confirmation before we look to execute any trades we are wanting to place, giving us the highest probability of being successful.
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