This pair rallied into a Daily/Weekly Sell zone and has traded within it for 3 weeks now.
Bagged GJ twice this week with 2 sells, Total of more than 250p.
1st Trade on 26th Gave a good setup and re-entry after it hunted the H4 sell zone, giving a good 1:4.7 R Short, TP was previous H4 OB on the bottom.
Didn't bother to flip/hedge my positions for longs into 157 before turning short again.
2nd Trade on 29th H1 Sell zone presented a nice 1:5.7 R short, similarly TP was at previous H4 OB on the bottom.
Volume Profile shows that key Area of interest is between 157.40 - 157.10.
Likely on the 1st opening week of November we will see GBPJPY rally into 157.40 - 157.75 to stop hunt for liquidity before continuation to the downside.
Bagged GJ twice this week with 2 sells, Total of more than 250p.
1st Trade on 26th Gave a good setup and re-entry after it hunted the H4 sell zone, giving a good 1:4.7 R Short, TP was previous H4 OB on the bottom.
Didn't bother to flip/hedge my positions for longs into 157 before turning short again.
2nd Trade on 29th H1 Sell zone presented a nice 1:5.7 R short, similarly TP was at previous H4 OB on the bottom.
Volume Profile shows that key Area of interest is between 157.40 - 157.10.
Likely on the 1st opening week of November we will see GBPJPY rally into 157.40 - 157.75 to stop hunt for liquidity before continuation to the downside.