GBPJPY 15 Potential cloud Breakout
Updated
Although GBP remains Strong, it does appear to be slowing down. As GBPJPY approaches Daily Resistance at 149.26, it appears to be losing strength. what I would like to see, is a consolidation near the resistance and then a move down through the Cloud. As this trade is still several hours away from setting up, I cannot provide an entry, Stop loss or Take profit levels at this time
Trade active
After the Cloud Breakout, pair pulled back to the Kejun Sen, which offered a very good entry opportunity.Entry = 149.15
Stop = 10 pis (+ 2 for spread) above prior high = 149.61
Risk = 46
PT= Rx5 = 146.85
Trade active
Had a nice push down to 147.95. Have over 80 pips in the trade at this time. Moving my stop loss to flat. Also because it is Friday and I am not a big fan of holding trades through the weekend. If the market comes down to retest the lows today I will close out at 148.10Trade closed manually
Since I don'y like to hold trades into the weekend I am going to close this trade here at 147.63 for + 152 pips :) Have a great weekendTrade closed: target reached
Even though I closed the trade on Friday, it is important to note that the trade made it's profit target :)
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