Automated Forex Trading Signals go Long the Pound/Japanese Yen, but Should you Take t
Our Forex/Buy Sell Trading Signals believe the Pound is to temporarily reverse course against the Yen after reaching fresh lows, but should you place a long trade? The DailyFX+ Currency Trading Signals “Range” system bought GBPJPY at 187.761 and set a trailing stop at 185.958. This came within minutes of being stopped out of a previous GBPJPY short.
EURUSD Forex Trading Idea
A more discretionary approach would take the high level of volatility into account when setting such a tight stop. Keep in mind that the pair has offered an 849 pip range over the course of this week. Furthermore, a long trade here would be a trade against the broader downward trend.