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GBPJPY Support and Resistance Trading Strategy

Satış
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OANDA:GBPJPY   İngiliz Sterlini / Japon Yeni
STRATEGY: S&R Trading Strategy
ID: 1209

  • Analysis TF: 1D
  • Focus TF: 1H
  • AOV: Minor Resistance Area
  • ET (1H): Bearish Engulfing
  • CP: Ascending Channel

1D Analysis
MS: Sideways - Price is moving in a range

1H Analysis:
CP: Ascending Channel - Price is moving inside the Ascending Channel. However, price failed to break above minor resistance of 140.597. It also looks like price made a pullback under the Ascending Channel.
Price closed with Bearish Engulfing which act as our Entry Trigger (ET).



Short Position
SL: Just above the Minor resistance (140.618)
TP: 2.19R - Just before Major Support




Note: This post is my personal journal/opinion only. Please trade at your own risk.
İşlem aktif:
Price moved on our favor. Moved the SL to intentionally choke the price. Previous TP target might not get hit so I moved up the TP equal to the low of the latest pinbar as this is a sign of weakness.

İşlem aktif:
Also added Trailing Stop = to new SL just to make sure.
İşlem kapandı: durdurma seviyesi:
Closing: TS got hit. Excellent Trade though! Thank you Lord!

Feragatname

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