GBPJPY seems to be stuck at support at 188.300. The preceding move seems to be a leading diagonal, likely forming a wave 1 or A in a larger time frame. That said, I am looking for another rally, either a wave 3 or wave C towards the 196.000 level.
BUY at 190.200 (market order)
SL at 188.300 (~ -200 pips)
TP at 196.000 (~ +600 pips)
BUY at 190.200 (market order)
SL at 188.300 (~ -200 pips)
TP at 196.000 (~ +600 pips)
Note
The recent reversal suggests we might see lower prices and I am considering closing this trade prematurely. I will update here accordingly.Note
I am moving SL higher at 188.850 which will probably be triggered. As the momentum appears to have turned bearish.Note
I am moving my SL at 188.936 (at today's low).Trade closed: stop reached
~ -160 pips loss booked.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.