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TRADE OF THE WEEK | Price Action Trading



Hey traders,


Here is a great long trade that I caught this week on GBPJPY.


The price reached 149.0 major daily key structure support .

Watching the reaction of the price to that structure, I spotted a double bottom formation on 1H time frame.

The trigger that I was looking for was a bullish breakout of its neckline (hourly candle close above).

Once the price broke that, I opened a buy limit order on its retest.


Then, with coming UK news we saw a massive bullish rally.


+230 pips of pure profit.


A great example of how nice winners a rule-based strategy occasionally brings.

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