Monday, February 3, 2014

GBPJPY Monday failed trade example + Next trade setup


GBPJPY Monday Trade


The earlier trade setup for a buy has failed, and stopped out.  

I was in front of the computer screen during this time and adjusted my fibs and saw price reject from the fib ext 127.2 from the 23rd to 27th of Jan swing . Therefore waiting for confirmation on a 5 minute chart, i got in my longs, to cover my earlier loss of my trade

Below shows my entry on my live mt4 platform, and also my potential target for a counter buy


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