See daily chart of GBPJPY below for the discussion that follows.
GBPJPY printed a hammer on support (prior resistance). I will likely go long this coming week if I see bullish price action, i.e. when the high of the hammer is taken out.
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 / financial advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
