Been looking for GBPJPY sellers to step in. Price is at a daily supply level (big level) so patiently i´ve been waiting for weakness in lower time frames. There is a supply level in the 4h i´m looking to short the pair. 2 major targets (daily time frame i´m looking) offer great RR. If you have the patiency to hold then the reward pays off. As for entries: A stop just above the 4h supply offers the best RR but can be risky. A stop loss above the daily supply is safer but penalizes the RR. Scaling into the position makes more sense for my risk profile.
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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.