GBPJPY Sandwich 8-25
GJ has come into previous highs and now will look for correction, just as it has before. We will wait for price to come down below previous consolidation zones to enter at the 139.650 area.
According to the Rules of the sandwich stategry, we will take this trade from ourside our zone below consolidation zones and ride it back to the resistance zone that served as support.
RRR Ratio has to be 1-1.5 to take the trade.
From the trigger to the zone is a 1.58 ratio for 45 pips.
From the trigger to the bottom of our zone is a 3.5 RRR ratio for a 90 pip win.
The london move for GBP Pairs is 1:30-7am then 9-11am
Remember to monitor both time and price action as you take the trade and as always, use correct risk management. You only want to be risking 3-5% of your account per trade.
According to the Rules of the sandwich stategry, we will take this trade from ourside our zone below consolidation zones and ride it back to the resistance zone that served as support.
RRR Ratio has to be 1-1.5 to take the trade.
From the trigger to the zone is a 1.58 ratio for 45 pips.
From the trigger to the bottom of our zone is a 3.5 RRR ratio for a 90 pip win.
The london move for GBP Pairs is 1:30-7am then 9-11am
Remember to monitor both time and price action as you take the trade and as always, use correct risk management. You only want to be risking 3-5% of your account per trade.
Note
2nd Idea: If GJ breaks the daily resistance at 140 then we will be looking for buys. We wont actually take the buy before price at least reaches 140.200 where price reached above the reistance before crashing back in August. If you take the buy then your Entry should be around 140.3 SL at 140 and TP 141
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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.