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GBPJPY 60 Minute Chart
Hello traders welcome back, today we are looking at the GBPJPY currency pair. I have to say this is more of an educational chart then a trade set up even as I have placed a possible sell trade on the chart. I wanted to talk with you about Bollinger Bands and how it effects our trading and a great toll to use. What does the Bollinger tell us it only tells us of the volatility of the market in the pair you are trading. Look at the chart and the bottom Bollinger Band and you can see that price has come out of the band. That is the issue rem,ember that anytime price comes out of the Bollinger band it will retrace back into the Bollinger Band 99% of the time. Go to any chart and look at Bollingers as you will see this over and over again.So this is a great trade set up as it has come back and we are now waiting to see if it will go to the top Bollinger Band and we can sell this, as this pair is very bearish. Thanks traders and I will talk with you soon……William
Source: http://www.fxinstructor.com/blog/gbpjpy-60-minute-chart-2
