Feb 22 why I shorted gbpjpy

Ok this trade is looking good and already locked 7 PIPS as I don't want my trade to run for my target 140. My Entry 141.67 ( I woke up a bit late ;-) ) my stop was 143.500, I can get better risk reward but my setup would be fine as long we don't go there. On EurJpy Got better entries.

Here is my hourly chart and check the trendline and expected support.

I was away in fact 17 feb when I missed that lovely shooting start on daily see where we are. It woudl be the better entry then but there still more room for price action.

So no indicator and no magic on this trade just Support / Resistance and following the trend. I love such plan on GbpJpy and EurJpy. But keep in mind we must have a good reward/ risk ration as the trade can be a looser and adjusting position to stop.

Expecting tomorrow sweet moves. Already locked 20 pips on EurJpy too entry

Update: freaked out a bit and closed my trade earlier for +58 pips. But see my target is met. Same on my EurJPY target 122.500 while it looked far away. Must stick more to my plans.

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