GBPJPY: Possible False Breakout and How to Trade
I wrote about this market in the previous post. The price is going to breaks the support zone, but at the same time, the market will be able to provide us a false breakout. If so, I would like to use it for buying using reversal signals from hourly timeframes.
If the market gives us a true breakout, it will be better to wait for a pullback, retest of the broken uptrend line. After getting a reversal signal from the uptrend line, it will be possible to open short trades in the direction of the breakout.
Risk for all trades must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the market gives us a true breakout, it will be better to wait for a pullback, retest of the broken uptrend line. After getting a reversal signal from the uptrend line, it will be possible to open short trades in the direction of the breakout.
Risk for all trades must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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