Exploit ‘Daily’ Stop Runs for Short Term Day Trading: Live Trade GBP/JPY

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<h2>ANALYSIS </h2> </div>
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<img width="900" height="434" src="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/ARTICLE-2-PICTURE-1-1024×494.png" class="attachment-large size-large wp-image-16817" alt="" loading="lazy" srcset="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/ARTICLE-2-PICTURE-1-1024×494.png 1024w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/ARTICLE-2-PICTURE-1-300×145.png 300w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/ARTICLE-2-PICTURE-1-768×371.png 768w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/ARTICLE-2-PICTURE-1.png 1158w" sizes="(max-width: 900px) 100vw, 900px" /> </div>
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<p><span>I like to refer to this price action as the V formation, also known as the daily stop run. As displayed above, the price made a full average daily range (ADR) push to the downside and rejected that move with another complete ADR move to the upside. All within a single day.</span></p><p><span>This formation shows a significant rejection of lower prices, and often produces continued price action in the direction of the rejection.</span></p><p><span>Given the bias, I intended to look for a continuation move to the upside off the 156.00 <a href="https://www.daytradingforexlive.com/basics-of-manipulation-point-selection/">manipulation point</a>.</span></p> </div>
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<h2>Setup </h2> </div>
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<img width="794" height="584" src="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/article-2-pic-2.png" class="attachment-large size-large wp-image-16818" alt="" loading="lazy" srcset="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/article-2-pic-2.png 794w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/article-2-pic-2-300×221.png 300w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/article-2-pic-2-768×565.png 768w" sizes="(max-width: 794px) 100vw, 794px" /> </div>
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<img width="900" height="22" src="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-order-15th.png" class="attachment-large size-large wp-image-16820" alt="" loading="lazy" srcset="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-order-15th.png 925w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-order-15th-300×7.png 300w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-order-15th-768×19.png 768w" sizes="(max-width: 900px) 100vw, 900px" /> </div>
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<p><span>The initial stop run forms just before the EU session opens. The next 15 min candle creates another <a href="https://www.daytradingforexlive.com/fomc-meeting-stop-run-reversal-live-trade-setup/">stop run candle</a> in the EU session and resets the count to a new number one candle. The confirmation candle was the #3 candle in the formation, and entry was taken immediately as the price was just 13 pips from the low of the candle formation.</span></p> </div>
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<h2>Trade management </h2> </div>
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<img width="900" height="756" src="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-trade.png" class="attachment-large size-large wp-image-16819" alt="GBP/JPY Trade – February 15th 2022" loading="lazy" srcset="https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-trade.png 1009w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-trade-300×252.png 300w, https://www.daytradingforexlive.com/wp-content/uploads/2022/02/gj-trade-768×645.png 768w" sizes="(max-width: 900px) 100vw, 900px" /> </div>
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<p><span>After an initial 7-8 pip pullback against the entry, the price shot straight to a full take profit. I didn’t even manage to move to breakeven or even take my regular trade screenshots. I didn’t see a specific news catalyst which means it was more than likely just a really aggressive London open.</span></p><p><span>Interested in learning more? Check out our</span> <strong><a href="https://www.daytradingforexlive.com/day-trading-forex-education-course/">Advanced Bank Trading Course &amp; Live Training Room by Clicking Here</a>.</strong></p><p><span>-Kevin</span></p> </div>
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</div><p>The post <a href="https://www.daytradingforexlive.com/exploit-daily-stop-runs-for-short-term-day-trading-live-trade-gbp-jpy/">Exploit ‘Daily’ Stop Runs for Short Term Day Trading: Live Trade GBP/JPY</a> first appeared on <a href="https://www.daytradingforexlive.com">Day Trading Forex Live – Advanced Forex Bank Trading Strategies</a>.</p>