GBPJPY short trade on 28/9/22
- GBP was the weakest currency across the board. GBPJPY came to a resistant and react, this give sign for a short trade. Strength meter also back up this trade.
- Eventually there was a news announcement regarding GBP by Bank of England, here is the news,
- I did not understand or able to elaborate about this event but rather focus on chart, what the chart was telling me. Price spike following this news release and that can give an opportunity for a short trade.
- Trade able to give 4.7R max profit before it reverse completely to the upside.
- I hesitate to trade this as I still worried about the spike event, still has no conviction to take a trade with spike event. But this spike event was a good opportunity to trade actually.
- Time of entry 6:15pm