We had a nice bounce on the Japanese Yen pairings during pre-London up to the hourly 21 ema’s. Quite nice to see after literally days of a pure drop. In this video we set up from start to finish a nice little triangle breakout formation on the shorter term time frames with the GBP/JPY. Using a simple Fibonacci study after the break occurred offered up a low risk (30′ish pips), high reward (120-140′ish pips)setup to our projected top back at the hourly 21ema. Sure enough we bounce right off the 38.2-50% Fib zone and proceeded exactly to our target before reversing. 120-140 pips depending on entry/profit taking for all of 8 minutes work, Gotta love the FOREX.
FXBootcamp London Currency Coach-
Christian Stephens
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Excellent coaching Christian Stephens