Friends, if you do not know what you can trade this week, then I can suggest that you pay attention to the cross: British pound sterling – Japanese yen (GBP / JPY).
Why did I choose this particular currency pair?
There are a number of reasons for this.
First, the price has moved a considerable distance from the upper balance line:
Second, the number of traders buying the pound for the yen dropped to 15%.
Thirdly, on the higher timeframes, signs appeared indicating a possible attenuation of the upward movement.
As you well know, GBP / JPY is a trending currency pair, so I will be gaining positional sales in several stages and in small volumes.
I do not put a stop (I manage the risks through loading the deposit), I plan to take profit if one of the following conditions is met:
- discharged bearish divergence on higher timeframes;
- the imbalance has been leveled (i.e. the price will return to the trading range).
Friends, take care of your deposits and may the profit come with you!