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

USDCHF Outlook & Trade Setup for the week 3rd - 7th February 2014

USDCHF Outlook & Trade Setup for the week 3rd - 7th February 2014

Outlook Trade opportunity

Risk Level Low

***Update***trade successful took 2:1, and took 80% of the table, and leaving 20% to run lower, as i see it can run lower

Tips -

Always take note of any economical news event on our provided calender below

GBPJPY Outlook & Trade Setup for the week 3rd - 7th February 2014

GBPJPY Outlook & Trade Setup for the week 3rd - 7th February 2014

Monthly Chart

• On the monthly price has rejected in January from the 61.8 retrace / 127.2 fib ext reverse

Weekly Chart

• Last weeks candle is very negative
• Stochastic shows oversold

Daily Chart

• Daily we have closed at weekly lows
• A retrace should give us a opportunity to short to find our next support

Hourly Chart

• We have a buy in a and a sell setup

Outlook Trade opportunity

Please check the H1 and H4 chart for our buy and sell setup

Risk Level Low - Medium

Tips -

Always take note of any economical news event on our provided calender below