Monday December 11 at 3:30 ET
Temporarily exit Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74 at the exit price of 228.07 to capture 198 to 224 pips of profit (depending on entry price) and re-enter approximately 40 to 50 pips lower after small wave 4 correction.
p.s.- GBP/JPY just rose to 228.38, a very high probability reversal value, and is thus very likely to reverse and do a smaller wave 4 correction down to about 227.50 before heading up to the top of Wave 3 at about 228.75
p.p.s. - GBP/JPY just fell 65 pips and then rose to form a double top at 228.38 - wave a down and wave b up. Wave b down follows, and then Wave 5 up.
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Previous trade signals:
Re-entry opportunity Trade Experiment #271A Buy GBP/JPY at 225.74
Wednesday December 6 at 24:000 ET
Another opportunity to jump on the long GBP/JPY trade ( Trade Experiment #271 Buy GBP/JPY at 226.65 ) may offer itself at about 226.00
p.s. - GBP/JPY did descend to 226.00 to offer a good re-entry price
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Previous trade experiment:
Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74
<!-- / icon and title --><!-- message -->Wednesday December 6 at 6:30 ET
Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74
Stop is 225.28
Target is 230.00
Risk is 55 pips
Reward is 417 pips
Reward : Risk ratio is 7.6 to 1
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Previous trade experiment:
Tuesday December 5 at 11:00 ET
Exit Trade Experiment #271 Buy GBP/JPY at 226.65 at market price of about 226.90
After more reflection it seems probable that GBP/JPY will descend to a new low. Therefore exit at market price of about 226.90. Re-enter a long trade at the bottom of the downwards wave 5.
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Tuesday December 5 at 4:00 ET
Trade Experiment #271 Buy GBP/JPY at 226.65
Stop is 226.19
Target is 230.00
Risk is 55 pips
Reward is 326 pips
Reward : Risk ratio is 5.9 to 1
For research purposes only
The wave hypothesis of this trade experiment is that GBP/JPY has gone up on a wave 1, 2, and 3 of Wave 5 and then down in an especially large Wave C of a wave 4 of Wave 5 down to the recent low of 226.48.
The rising GBP/USD, especially if USD/JPY also reverses and heads upwards, will cause a strong rise of GBP/JPY in its wave 5 of Wave 5 up to a new high at 230.00 or higher.
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Temporarily exit Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74 at the exit price of 228.07 to capture 198 to 224 pips of profit (depending on entry price) and re-enter approximately 40 to 50 pips lower after small wave 4 correction.
p.s.- GBP/JPY just rose to 228.38, a very high probability reversal value, and is thus very likely to reverse and do a smaller wave 4 correction down to about 227.50 before heading up to the top of Wave 3 at about 228.75
p.p.s. - GBP/JPY just fell 65 pips and then rose to form a double top at 228.38 - wave a down and wave b up. Wave b down follows, and then Wave 5 up.
________________________________________________________
Previous trade signals:
Re-entry opportunity Trade Experiment #271A Buy GBP/JPY at 225.74
Wednesday December 6 at 24:000 ET
Another opportunity to jump on the long GBP/JPY trade ( Trade Experiment #271 Buy GBP/JPY at 226.65 ) may offer itself at about 226.00
p.s. - GBP/JPY did descend to 226.00 to offer a good re-entry price
__________________________________________________ ___________
__________________________________________________ ___________
Previous trade experiment:
Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74
<!-- / icon and title --><!-- message -->Wednesday December 6 at 6:30 ET
Re-enter Trade Experiment #271A Buy GBP/JPY at 225.74
Stop is 225.28
Target is 230.00
Risk is 55 pips
Reward is 417 pips
Reward : Risk ratio is 7.6 to 1
__________________________________________________ __________
__________________________________________________ __________
Previous trade experiment:
Tuesday December 5 at 11:00 ET
Exit Trade Experiment #271 Buy GBP/JPY at 226.65 at market price of about 226.90
After more reflection it seems probable that GBP/JPY will descend to a new low. Therefore exit at market price of about 226.90. Re-enter a long trade at the bottom of the downwards wave 5.
__________________________________________________ ________
__________________________________________________ ________
Tuesday December 5 at 4:00 ET
Trade Experiment #271 Buy GBP/JPY at 226.65
Stop is 226.19
Target is 230.00
Risk is 55 pips
Reward is 326 pips
Reward : Risk ratio is 5.9 to 1
For research purposes only
The wave hypothesis of this trade experiment is that GBP/JPY has gone up on a wave 1, 2, and 3 of Wave 5 and then down in an especially large Wave C of a wave 4 of Wave 5 down to the recent low of 226.48.
The rising GBP/USD, especially if USD/JPY also reverses and heads upwards, will cause a strong rise of GBP/JPY in its wave 5 of Wave 5 up to a new high at 230.00 or higher.
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