There is several trading opportunities on the EURUSD, GBPUSD and GBPJPY when the market opens on Monday.
For those of you who are in my forex video signal service, I have posted the video on the members area to show you how to trade the 3 pairs when the market opens.
If you are interested to get lifetime free access to my forex video signal, you can take a look at the promotion below
In this post, I am going to share with you my analysis on the GBPJPY so that you can also make some profits from it.
If you take a look at the picture below, you will see that the GBPJPY has move back to test the 0.618 retracement and is now moving towards the 1.618 extension level.
Before the market close on Friday, the price started to move down. So what you can do is wait for the price to move down to hit a major support and then enter a BUY trade to ride it till the extension level.
As the price has hit the 400 EMA on the weekly chart, it might just reverse once it hits the 1.618 extension level. Therefore what you can do is to wait for formation of some reversal candlestick pattern to enter a SELL trade to get the second profits.
For those of you who are in my forex video signal, I will tell you exactly where to enter the trade and exit it.
I hope that you can make some good profits from this post.