gbpjpy 30 second test

Following a gbpjpy 30 second test on June 1, 2010.

It's Tuesday morning and the US Memorial Long weekend has passed.

Today we are looking at the sterling pound of the UK and the Japanese Yen. Our MACD on the 30 second forex chart is showing some consolidation on the 30 second chart. Meanwhile the gbpjpy price is battling it out on the 200 SMA.

We could look to the 5 second chart for an entry short the UK pound here and put a stop loss or other risk protection strategy somewhere above the high of 1.33 and hold the position for a profit if the 30 second MACD signal works out.

How would we tell ?

Simple. Just look for a divergence pattern and exit at the end of the pattern. Easier said than done however.

See the results....gpbjpy 30 second test trade fails

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