Big breakout coming in GBPJPY

Long either on the breakout or handle formation. Odds of a breakout are high.

Kommentar:

Other interpretation:

Either way, this is as legitimate as breakouts come.

Trade ist aktiv:

Filled at 146.67

Trade geschlossen: Ziel wurde erreicht:

I am taking money off the table here for now. I have FULL intention of getting back in.

Position is up 430 pips overnight. We have a MAJOR WEEKLY breakout once today is over. My logic for profit taking here:

Short term resistance

618 from recent peak to trough

short term trend line break after the above two

I will update re-rentry

Kommentar:

Trade ist aktiv:

Long again from 147.65. Took 1 whole month to re-renter long!

Kommentar:

Up 140 pips in 2 hours. No intention of selling the position anytime soon.

Kommentar:

I suspect a launch higher will follow through. I am long.