Gbp Jpy idea
Updated
Anticipating a H&S formation off the supply zone 136.2
You could take this trade earlier near the sell zone - but looking at the 4h candle shows some bullish reaction and may suffer some drawdown. GJ moves quick.
My strategy would be to enter 0.5% on the Sell Zone and 2% on the Supply area marked up. SL above previous high
Moving stops to break-even once the neckline hits
Pound index looking to weaken in my opinion -
Treading idea only (not a signal)- trade at your own risk.
Have a good weekend all! trade safe and trade smart.
You could take this trade earlier near the sell zone - but looking at the 4h candle shows some bullish reaction and may suffer some drawdown. GJ moves quick.
My strategy would be to enter 0.5% on the Sell Zone and 2% on the Supply area marked up. SL above previous high
Moving stops to break-even once the neckline hits
Pound index looking to weaken in my opinion -
Treading idea only (not a signal)- trade at your own risk.
Have a good weekend all! trade safe and trade smart.
Note
0.5% running. Thought it would go higher - let's wait and seeNote
Took profit. I dont like how the structure is.Trade idea is now invalid for me
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