GBPJPY market was a very nice to trade yesterday.

I got a profit of more than 100 pips in about 5 hours ♪

I would like to review the trade yesterday.

Review of the trade yesterday

4 hours chart

First of all, from 4 hours.

It rose strongly with almost no return.

Climbing to near the high price last time without a break, it looked like a shortness of breath market.

There, it seemed to be like head and shoulders formation.

Also, the high and low prices had fallen.

 

It was a great chance to trade.

So, I was thinking of selling if it couldn’t exceed the latest high and went down.

1 hour chart

1 hour chart next.

First, I was thinking of short(sell) when it broke the latest low price.

Looking at the situation, it rose steadily, so I judged that the power of the rise was not strong.

After enough time, it may be about to descend.

 

 

And, of course, we should think about how far it will go down if it go down.

As the high price was gradually declining, it might have been brake the previous lows down.

 

 

I expected that it might rebound at 200MA.

So that was likely to be a profitable point.

And, as expected, that’s what happened ♪

5 min chart

Finally it’s good if you take the timing of the entry point in 5 minutes chart.

 

 

It went down to around 200MA for 1 hour chart. ♪

It may be repulsive at 200MA, so I made a profit once.

I made a very good trade today ~ ♪