Now, let us do our weekly review - beginning with GBPJPY forex pair.
1 HOUR CHART
Nothing much happens after last week except for a dip to a low of 168.908 - a drop of 130 pip-ish (if you recall last week our review on our buy entry price of 170.11)
Now next thing is interesting as the price rockets skyward ending the week at 172.53 - a gain of 242 pips.
Again as I always mentioned to set Stop Loss of 200 pips - which is still safe today. At this point of course you may move your Stop Loss to breakeven or even set some Trailing Stops. Choice is yours.
Key point is always - ask yourself "How much you can afford to lose?" In my case I am willing and able to lose 200 pips comfortably, and bravely.
DAILY CHART
Nothing much can be said about the Daily Chart, infact nothing much happens with 4 Hour chart as well which is why I am not showing it here at this week's review. Next we move on to our next pair, GBPUSD.
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