That’s it. I did it. 
Some nice breakout in gbp/jpy after the news. Got two shorts from 133.80 level. One was closed at an even number at 133.10, another at another even number 132.10 I love this game.
1000 pips in 1 week. Amazing & congratulation first.
Good video is shared also…
Thank you.
Thanks. Enjoy.
Today I was looking at 132.67 level to see how the price behaved at the level. It touched the level once. I was looking for the level to be visited again. If it went there and jumped off the level, I would place a sell stop below it. (Breakout trade) If it formed 123 pattern there, I would go long above the nearest highest high that would be established.(Reversal trade)
The pair went past that level, then bounced off 132.48, retraced to 132.68 (support became resistance). Went short below 132.48, stop at 132.75. Exited at an even number 132.00
Just some thoughts in retrospective…
The only opportunity that I saw today in gbp/jpy was in early european session when the pair hit 132.86, formed 123 and go long above that high on 15 minute chart. 40 pips of meat. Although looking at 8 hour and daily chart the picture is very bearish. I smell a breakout down sooner rather than later.
After news from Great Britain gbp/jpy went nicely from 133.50 till 133.90 where I closed my first position which was opened when news hit the market and then moved my second position by placing my stop below higher lows, till my stop was hit at 134.25 Nice ride. Monday might see a reversal. Not going to trade Sunday opening. Lots of crazy things happen then.
Thanks for the great videos and info, all the research I can do helps a lot.
Always welcome. Good luck in trading.
As mondays are usually reversal days I expect reversal today. I entered short in gbp/jpy at 134.98. Two points of resistance were broken. Some sort of breakout trade.
Closed that one at 134.55 near former support and now have just opened a long at 134.90 and stop is at 134.56.
Exited at 135.50.
Looks like breakout in gbp/jpy is real. Buying on dips. Not opened any trades yet. Most probably I will have to buy when the highest high is taken out.
The price is retracing. Had minor 20 pips loss. Support is still valid at 136.00 -136.40 which was the high of the ugly range we have been in. We have to wait and see if this level holds. It will be clearer tomorrow. I will see if there is opportunity to go long or short in the early european session. No orders for now.
Looks like 136.00 level was not really broken. I would buy 136.30 and sell 135.85 (in case break out wasn’t real). No orders opened yet.
Went long in european session. False break up, but as I placed my stop at breakeven, did not have any loss. I will watch carefully 134.40 level as it has some history and see if support holds there. Back into range. But… fridays are breakout days. Let’s see what happens tomorrow.
Fridays are not too good for pure technical trading. I am going to concentrate on news today, especially US GDP. News trading should be the best choice today. If gbp/jpy retraced from present level and then again went up, I would go with a tiny long up.
As always I expect some reversal on monday. Support is now at 135.34. I am not going to short until European session. But the price has to go and jump off that level first. Only then I will place my sell stop below that level. That is the type of trading strategy that I always use for mondays.
So far support holds let’s see what happens in a matter of a few hours. If it is not broken my strategy would be buy on dips.