See daily chart of GBPJPY below for the discussion that follows.
GBPJPY broke through important resistance recently. I’m looking for a retracement to support (previous resistance)… if it happens I will look to go long if price shows signs of a reversal in terms of price action / candlesticks as per my strategy.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.