#GBPJPY: Long on Triple Bottom Breakout | #forex
Update: Trade is active
Update(25 Feb): I moved stop loss to break-even
Update: Stopped at break-even :|
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Today's selloff was re-bought quickly, indicating renewed demand at lower levels, and that comes after the completion of a triple bottom bullish formation at the 200 days SMA, and a breakout above the 50-days SMA.
The main near term resistance is at the falling trend line now, we might see some intraday downside pressures where i will be looking to long a bit lower due to money management reasons.
You might noticed that this is not typical trade for me, as it has a wider target and stop loss compared to my usual trade. I am trying to be bolder and more aggressive here ;)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
Update(25 Feb): I moved stop loss to break-even
Update: Stopped at break-even :|
---------------------------------------------------------------------------------------------------------------------------------------------------------
Today's selloff was re-bought quickly, indicating renewed demand at lower levels, and that comes after the completion of a triple bottom bullish formation at the 200 days SMA, and a breakout above the 50-days SMA.
The main near term resistance is at the falling trend line now, we might see some intraday downside pressures where i will be looking to long a bit lower due to money management reasons.
You might noticed that this is not typical trade for me, as it has a wider target and stop loss compared to my usual trade. I am trying to be bolder and more aggressive here ;)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
