GBPJPY BUY Zone for Aug 22, 2023
Updated
If we see a strong rejection from the 185.50-185.60 zone after 1pm EST today, we might get a good BUY opportunity for the Higher Timeframe Buys continuation on GBPJPY.
DONT RUSH the entries, because there is an extra push that can still happen into 185.30 before the BUYS continuation. So it is better to wait for a good confirmation, either looking at the lower timeframe structure reversals or strong 1H bullish body closures, or engulfing candles, etc. Whatever your confirmation may be.
This is just a probabilities based game, it is always better when we go with the HTF structure.
DONT RUSH the entries, because there is an extra push that can still happen into 185.30 before the BUYS continuation. So it is better to wait for a good confirmation, either looking at the lower timeframe structure reversals or strong 1H bullish body closures, or engulfing candles, etc. Whatever your confirmation may be.
This is just a probabilities based game, it is always better when we go with the HTF structure.
Note
Bough 185.61 after 1pm EST as planned, with Stop Loss 3 pips below that same 1H candle that closed at 1pm. Will take Partials at 185.85 which is RR= 2+ and will leave runners and trail the Stop Loss as we move upwards.
As always, just patience and follow your plan :)
Note
Secured some profits at 185.75, Stop Loss now is covered in profits. Risk Free trade from this point on.
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