Setup:
It was noted that GBPJPY could be dropping to 142.038
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 147.208
SL: 149.356
TP: 145.057
Trade 2:
Entry: 147.208
SL: 149.356
TP: 142.038
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 422 PIPS
Total Reward:
3.5 % or 735 PIPS
Good Luck :-)
It was noted that GBPJPY could be dropping to 142.038
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 147.208
SL: 149.356
TP: 145.057
Trade 2:
Entry: 147.208
SL: 149.356
TP: 142.038
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 422 PIPS
Total Reward:
3.5 % or 735 PIPS
Good Luck :-)