GBP/JPY (Long)Daily:
Price > 200EMA
Swing Period 10
Swing Low: 187.666
Swing Low: 194.892
Volume Imbalance: 2 Candles
Daily Order Block: 197.399 / 195.104
H4:
Price < 200EMA
Swing Period: 7
Swing High: 194.892
Swing Low: 190.728
Volume Imbalance: 2 Candles
H4 Order Block: 192.357 / 192.841
H1:
Swing Period: 5
Swing High: 194.892
Swing Low: 191.446
Volume Imbalance: 11 Candles
H1 Order Block: 192.357 / 192.841
Model 1:
Entry Price: 192.572
Stop Loss: 191.970
TP1: 191.970 @ 1:1 / 50%
TP2: 193.775 @ 1:2 / 25%
SL: Breakeven
TP3: 194.891 @ 1:3 / 25%
Model 2:
Entry Price: 192.750 - 192.159
Entry Trigger: 9EMA X 21EMA
SL: Above recent swing low
TP1: 1:2
SL: Trailing 9EMA
Gbpjpyswing
GBPJPY TradesAnother successful clean trade setup. First TP smashed. I had set the same TP for both my entries but ended up seeing the possibilities of price going even lower. This new TP lines up exactly with our -27 fibbo retracement line (DM me to learn how to use the Fibbo the easiest way). Another entry should have been opened upon price retesting the violated channel's support (blue line), but I do not over trade.
The initial analysis is linked below.
#TradeLikeMagnatrio
GBPAUD TradesConsistency is key if you want to grow. Follow your rules. Even if it so happens you get stopped out, it will be easier when you followed you rules. I dont focus on the money. I focus on two things: my risk/reward ratio (1:3 and above) and the number pips.
*Disclaimer*
This is not financial advise. Forex Trading is a risky business. Trade at your own risk. Remember to exercise proper risk management and have the patience to watch your trades play out.
My chat box is open for consultations.
#TradeLikeMagnatrio
GBPJPY SWING TRADE I believe we have a pattern for a cup and handle.
aftter a pullback at 61.8 price manage to breakout 149.473 level on 20 Aug
targeting 145.7
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all