GBPJPY Short 2017/12/18

Two Magic-Entry opportunities on GBPJPY M5 last Friday. The downward trend gained momentum indicated by the the blue and orange line which started leading the price strongly.

The price then reached the entry zone. Within this entry zone you wait for occurrences of price spikes to the upside which are immediately rejected. Those price spikes plus the rejection for an inverted V (for short trades). Those inverted Vs within the entry zone during a strong downward trend are the Magic-Entries which you want to trade with this system.

At the bottom of the chart you see a big V-formation. This tells you that the downard trend is most probably over. Further short entries should NOT be taken. Play the odds and wait for the next strong trend.

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