This is a trade idea generated by the 500 Pips a Week. We have identified GBPJPY as a potential short trade. This is on the Daily Timeframe and do expect to be holding on to this for several days… maybe even several weeks. You can see that GBPJPY is beginning trending downwards and we will it might be a good time to take up this alert from 500 Pips a Week Indicator.
Since this is a simple BUY or SELL arrow generated by the Indicator, we will just enter at market price.
- Market Price: 145.285
- Stop Loss: 147.444
- Take Profit: 141.653
- When the next UP Arrow appears, we will also close the trade even though the TP or SL might not be triggered.
With Indicators like the 500 Pips a Week Indicator, we will just have to be sure that we adjust our lot size correctly. I suggest using 0.01 for every $500 in your trading account. If you have $5000, then your lot size should be 0.1 max. We are excited about the potential of this new 500 Pips a Week Indicator as it has shown very good promise in our testing phase.
Good luck and let us know how this trade is for you.
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