Forex Scalping Strategies | 2016-05-31 GBPJPY +12

GBPUSD +10 2016-05-31 | 5 min Trend Trade

This is a nice example of a 5 min trend trade. GBPJPY has made a session high and has retraced back to the 5 min box with the 1 min boxes 15 pips way. There are further support levels on both the 1 min and 15 min timeframes. Although unneeded in this trade there was a potential adding position 10 pips below which having the 5 min S2 and 15 min S2 was a strong position in itself. Although not visible GBPUSD was also moving up with USDJPY at support. It is always important to check the parental pairs of any cross you are trading.

You can learn out more about using forex price action to scalp with the forex Fib Matrix trading software, here

Previous recording Forex Scalping Strategies | 2016-05-27 GBPUSD +10

Forex Scalping Strategies | 2016-05-31 GBPJPY +12 was originally published on 24HR Forex Trade Room

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s