GBPJPY +8 2016-05-19 | 1 min Inside Bounce
This is a 1 min Inside Bounce trade, a rare trade that generally needs very specific circumstances. An inside bounce trade on any time frame is where the trade is taken from the second box (R/S 2 box) and traded back to the first box (R/S 1 box). The R/S 3 usually acts as the stop. In this case the move had stretched out the boxes and levels to such an extent that only the 1 min boxes and S3 were showing. In this trade, entry was made at the S2 box with the target of the R1 box. The stop though would not have been the S3 as this would have been too far away. In any event the trade worked out nicely for +8 pips.
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Previous recording Forex Price Action | 2016-05-18 EURAUD +7
from 24HR Forex Trade Room http://24hrforextraderoom.com/forex-scalping-strategy-2016-05-19-gbpjpy-8/