Breakout buy and sell

Nice moves..

GBPJPY

It is a weak day but buying from just below mean is going well, so far. Blue box represent Day ATR. Let's see if it can go up further.

Capturing 1 Day ATR move

I am now concentrating on capturing major portion of Daily ATR (average true range).

The logic is that - they must move Daily ATR, so why not ride it out.

It would make a trader 'A' class to capture 70-80% of Daily ATR with consistency.

On the charts shown, daily ATR is marked with blue boxes whereas entries are marked with yellow arrows.

USDJPY was left with nothing much as it did come back to entry point; however, GBPJPY hit the target level.

GJ again

Plan for today is to sell 50% only due to bounce zone conditions.

Sell when cycle crossing below 143.88

Target = 142, just above 141.97 LL value

Stoploss = just above upper TL (or) H1 cycle up

GJ short

This is GJ short earlier this morning.

Banked 80pips 50% but the other half was stopped out at break even trailing stop.

Kep points

1. H4 at outer region of Daily ATR channel.

2. Strong mean set up

3. Support kicks in at yesterday's congestion area.

Fx: GBPJPY short

It was below 3DMR as well as below SilverXMAS.