Trade: Short GBPJPY @ market (now 151.34)
Stop Loss: 152.60
Take Profit #1: 150.70
Take Profit #2: 148.50
Commentary: IntegrityFX Day Trading Strategy. GBPJPY has hit an important trendline originating from August 7th and the carry trade has retraced enough that we believe today’s gains have given us a quality price to enter into this risk aversion trade.
Close T1, half the position, when it hits its Take Profit. Then, to lock in profit, move up the Stop Loss on T2, the other half of the position, to breakeven. Use a 75 pip trailing stop loss on T2 after T1 is closed.
Trade Status: Open
