GBPJPY SS Short + 83 PIp Potential
Updated
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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