On December 13 2022 I posted the GBPJPY Daily chart on social media @AidanFX . On December 15 2022 I also posted the SELL entry at 168.45 with Stop Loss at 168.85 and Target at 166.45 (1:5RR) minimum 160.45 (1:20RR) maximum.
SELL Trade Setup
1. Price broke the HH/HL Sequence signalling more downside (Purple)
2. Price pullbacks to the supply zone and reacts with a move lower signalling more downside (Red)
3. Price takes buy side liquidity in the supply zone for a liquidity grab fuelling the sell side (Light Blue)
4. Shift to a smaller time frame chart (1 Hour, 15 Minute, 5 Minute) for entry.
GBPJPY Daily Chart December 13 2022
*Chart above has some errors. Sellside Liquidity should be Buyside Liquidity and Buyside Liquidity should be Sellside Liquidity. Also Grap should be Grab.*
GBPJPY Daily Chart December 16 2022
GBPJPY Daily Chart December 20 2022
SELL trade entered at 168.45 with Stop Loss at 168.45 and on December 20 2022 GBPJPY moved lower to the proposed maximum target at 160.45 for a +800 pip move and a 1:20 Risk/Reward winning trade.
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the GBPJPY move lower. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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