GBPJPY - Waiting for Bullish reversal

[shanmugapradeep]

GBPJPY is one pair with high liquidity market, price movement above on average, the price not always will drop, there is a time till pullback, the current trend seems tendencies to bearish based on Mc Ginley indicator.

I am holding 4 position over 19 days in hope for reversal and swap charges are keep increasing

Not trying to blow my own trumpet here but it seems my predictions were pretty good. Shame I didn’t actually get on that trade (could have made tens of thousands if I did ).

My account almost about to blow in 10K size so i used refill strategy and funded other 40K so now everything is cool down a bit but still GBPJPY not taken reversal and i holding 4 position in negative approx -2800$ in floating.

 

[davtrent55]

What's the refill strategy?

 

[shanmugapradeep]

What's the refill strategy?

When your Drawdown is almost touching your equity (blowing your account) and if you have solid analysis it will go up after sometime so depositing more money on your account so Drawdown/dropdown get makeup and in end of the day you will save your account and also close all your trade in profit or minimal loss.

This kind of strategy is very risky because it can even loss your deposited money too, so only use this strategy only if you have extra money to risk and you have a solid analysis.

 

[Pheniox123]

I am holding 4 position over 19 days in hope for reversal and swap charges are keep increasing

View attachment 66805




My account almost about to blow in 10K size so i used refill strategy and funded other 40K so now everything is cool down a bit but still GBPJPY not taken reversal and i holding 4 position in negative approx -2800$ in floating.

It’s good you have extra capital to fund the account but please make sure you have an exit strategy in place…I.e a price which when reached you can close your trades with break even or even a small loss. This will protect your account from being blown over…as literally the price can keep on going south with small pullbacks (so don’t count on price going back all the way to your entry points although it could happen but just be prepared to have an exit way below your entry points to protect your account).

thanks and good luck
Pheniox

 

[shanmugapradeep]

I am holding 4 position over 19 days in hope for reversal and swap charges are keep increasing

New Update :

Floating and swap keep increasing. Any analysis suggestion on GBPJPY? do it go upward any soon?

I have uploaded my account live stats on fxblue so you please can look on it and provide me a best suggestion how to get ride of these 4 big loss position.

FXBlue : https://www.fxblue.com/users/rrs230874532

 

[Pheniox123]

New Update :

View attachment 66885

Floating and swap keep increasing. Any analysis suggestion on GBPJPY? do it go upward any soon?

I have uploaded my account live stats on fxblue so you please can look on it and provide me a best suggestion how to get ride of these 4 big loss position.

FXBlue : https://www.fxblue.com/users/rrs230874532

I think GBPJPY is at a critical level at the moment; my guess is that if it breaks the 150 mark then it will keep on going downhill for the foreseeable future…but if it holds then it can have a pullback followed by a strong reversal.

best of luck
Pheniox

 

[JimmyRozza]

New Update :

View attachment 66885

Floating and swap keep increasing. Any analysis suggestion on GBPJPY? do it go upward any soon?

I have uploaded my account live stats on fxblue so you please can look on it and provide me a best suggestion how to get ride of these 4 big loss position.

FXBlue : https://www.fxblue.com/users/rrs230874532

Yikes brother. What strategy are you using here?

 

[shanmugapradeep]

Yikes brother. What strategy are you using here?

It a mix of 3 strategy. Martingale + Hedging + Scalping.

 

[vvovan]

gbpjpy show bearish movement. now i won't wait bull. bear only.

 

[shanmugapradeep]

gbpjpy show bearish movement. now i won't wait bull. bear only.

Yeah, Yesterday it went -18K on floating but lucky it made a pull back and now it around -6K in floating.

I am holding this position more than 45+ days and i want to get out of it but cannot close the trade in loss because -6K is big and cannot afford this kind of loss. still holding with hope it will go up in 15-20 days.

Just worried about swap charges which keep increasing every single day.