What is the most effective way to move stop loss in a +423 pips #GBPJPY trade?

#GBPJPY has presented traders with an ideal entry point at 188.98, marking a significant breakthrough as the price experienced a notable breakdown using the PRICE ACTION CHARTS. This strategic move has already resulted in a positive gain of 423 pips, showcasing the potential for substantial profits. Looking ahead, the currency pair appears to be on a trajectory towards the 182.20 mark in the imminent hours, indicating a promising outlook for further growth.

To maximize gains and minimize risks, it is advisable to adjust the trailing stop to 188.32, effectively reducing the exposure to zero risk FOR VIP MEMBERS'. This prudent risk management approach ensures that traders can safeguard their profits while allowing the trade to continue its upward momentum. By implementing such strategic adjustments, traders can capitalize on the current market dynamics and potentially amplify their returns in a controlled manner.

Good trading

Chris

head Coach & Trader for over 30 years

Plans & Pricing | Thetradingmentor#Forex and #Gold Specialists (thetradingmentors.com)