GBPJPY : Countertrend Position

Good morning traders,

I´m opening a Long GBPJPY, a counter trend position , with SL below 159.4 , a support zone . It could be considered as inverted Head & Shoulders pattern and trade the breakout above 163

Please note this is a counter trend , the probabilities are to the downside.

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6 Trading Rules :

1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The hard trade is the right trade

Josep Pocalles

Сделка активна:

It was stopped out but I´m re-entering again with SL below 159 on a daily close. It´s a huge distance , so manage your lot size or close partially below 160