5-minute chart

GBPJPY Long on M5 after confluence of 6+ factors

  • Posted on: 1 November 2017
  • By: strategist
GBPJPY Long on M5 after confluence of 6+ factors

GBPJPY is the Forex pair that moves the most, i.e. has the largest ADR - average daily range of all pairs. With the right set of tools and with confirmation, it could be successfully traded on smaller time frames like in this example - the five-minute time frame. This was a successful trade I took yesterday on a live account that was triggered by confluence of indicators and price action.