The GPBJPY has broke below the major support that I have showed you in my previous post and we have entered a SELL trade for the GBPJPY.
For this trade, the target profit is 100 pips while the stop loss is 30 pips which gives us a decent 1: 3.3 risk reward ratio.
Actually the first entry for this trade ended up as a breakeven trade as the price pushed to 35 pips profits and then reverse which show the power of this level.
As it breaks the same level the second time, we enter another SELL trade for it.
For the GBPJPY, when we look at the hourly and 4 hourly chart, you can see that the price is being resisted by the 400 EMA and 100 EMA respectively which gives us a higher chance of winning. However there is no 100% probability in trading as what we do is just follow our strategy.
So keep a lookout for this trade on Monday when the market opens
For the GBPUSD, it has broke above the 2 levels that I have told you and it broke back again and we have entered a SELL trade for it which ended up as a 85 pips profits.
I have recorded a live trade video for these 2 trades
As it has broke back to the channel, there is a very high chance that it will move to touch the lower support that I have told you guys in my previous post.
Therefore we have entered a SELL trade and set the target profit to be at the lower support.
We will take profit first and wait for the price to produce a valid breakout of the lower support before we enter another SELL trade.
For the EURUSD, it is pretty similar to the GBPUSD. The price has broke back into the channel again and there is a high chance that it will move to touch the lower support that I have told you in my previous post.
So I will look to go SHORT for this pair as well on Monday
I hope that this information is useful for you guys.
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