Simple GBPJPY Long Hedge 58 pip risk, 40 pip profit


#1

Went long on the GPYJPY and was fully hedged only 58 pips risk and targeted the +1 deviation level for an easy 40 pips profit. Deviation levels make it so easy to pick reasonable and accurate price targets.

Closer look at the transaction history

As for how I chose to go long? I liked the bounce off the -0.5 deviation with a represented total deviation move down of -1.63 and indicated by the total deviation indicator. Followed by higher lows and a break and close back above settlement. I thought I could risk 58 pips to make 40 on a reversal touch back to the +1.

Worked like a charm.