GBPJPY SS Short + 83 PIp Potential
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.
Entry = 137.43
Stop = 137.63
Risk = 20 pips
Profit target = 136.60 ( The Daily Support level )
Reward = 83 Pips
RRR = 4-1
Entry = 137.43
Stop = 137.63
Risk = 20 pips
Profit target = 136.60 ( The Daily Support level )
Reward = 83 Pips
RRR = 4-1
Note
Just a quick educational point. review of the Chart had this pair a bit extended, which is why I did not take the Breakout trade (which would be up roughly +10 pips).Moreover, BOE Gov, Carney is scheduled to speak at 8:55 am est. and the GBP pairs may just consolidate till then
Order cancelled
This pair is roughly 40 pips from our entry and with BOE Gov. Carney scheduled to speak in about 4 hours, it is highly unlikely that this market will pullback, trigger our trade and then move another 40 or so pips back down, before then. Therefore, this trade is cancelled.
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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.