We last reviewed the GBPJPY trade in early March, we was currently in 3 positions and up around 28R/%. In todays video we review the trade we hit target on @155.83, which was the initial target we set back January. Overall it was a great return on investment, totalling 48R/% averaging 12% per month between three positions.
We managed to get a second retest on the high @ 1.4200. Price has started to show signs of divergence & broken a strong weekly & daily lower support. I will be Looking for further entries if price continues to push down & provide good RR trades.
I did however outline a concern i that GBPUSD has been ranging for some time and maybe gathering momentum for a push up, if GBPUSD was to push higher we will revaluate if price breaks 1.4200 (the high).
Apologies on the ending to todays video, just before i was abut to conclude the GBPUSD trade the camera cut off for some reason. I was just mentioning we need see GBPUSD commit to the downside, I will post an update if we are stopped out or if we enter further positions.
Thank you for watching todays video guys, please give it a like and drop us a comment if you have enjoyed it.
Until next time, trade safe! :)