Free Daily Forex Trade Idea (Nov 7th, 2019)

GBPJPY Trade Setup

Today’s trade is on the GBPJPY pair. The chart below is a Point & Figure Chart that shows a major congestion zone for this FX pair. If the GBPJPY can return to the 140.60 price level, this will create a quadruple top — a rare and powerful multiple-top formation. The entry would be the first box/X above the quadruple top with an entry at 140.80. The initial profit target is at 141.60.

Buy Stop @ 140.80

Profit Target @ 141.60

Stop Target @ 139.60

Disclaimer: This article does not disclose all of the inherent risks associated with trading forex, futures, cryptocurrencies, options or stocks. Derivatives trading involves substantial risk and is not suitable for all investors. The risk of loss in forex, futures, cryptocurrencies, options or stocks can be substantial. This article is not financial advice but the personal opinion of the author. No promises or guarantees are made. If you have questions regarding investing speak with a professional.