GBPJPY W SHORT LDN 060421
+2%
Engulfing candles after multiple rejections can be a very high probability trades. This is further confirmed by rejections of previous swing high as highlighted in blue.
Furthermore, the target wasn't just a 1:1 RRR, it's also a level which price has respected very much, so it was that pull factor that made this trade good.
Stoploss is important, but target is equally as important. At least to me.
Engulfing candles after multiple rejections can be a very high probability trades. This is further confirmed by rejections of previous swing high as highlighted in blue.
Furthermore, the target wasn't just a 1:1 RRR, it's also a level which price has respected very much, so it was that pull factor that made this trade good.
Stoploss is important, but target is equally as important. At least to me.
Hold nothing sacred in search of truth
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