Looking at the GBPJPY market today which clearly is stuck in range bound conditions on the daily chart. We’ve seen aggressive bouncing between the two containment levels of the range recently creating nice price movements. One of those movement developed from a bearish rejection candle setup that formed last time the range was tested and produced nice returns. Last session the range top was tested again where price stalled and printed an Indecision Candle. The close of the day was lower than the open, giving the indecision candle a bearish tone. A break of the lows could be used to trigger short positions, targeting the range bottom. Keep in mind the NFP release is coming out this New York session, which doesn’t usually concern us too much as price action traders. NFP will bring a surge of volatility which generally causes your trade to quickly hit the stop, or drive it into profit rapidly. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods Forex News Today: Daily Trading News share Read Next Fundamental analysis in forex Guest 8 years Looking at the GBPJPY market today which clearly is stuck in range bound conditions on the daily chart. We've seen aggressive bouncing between the two containment levels of the range recently creating nice price movements. One of those movement developed from a bearish rejection candle setup that formed last time the range was tested and produced nice returns. Last session the range top was tested again where price stalled and printed an Indecision Candle. The close of the day was lower than the open, giving the indecision candle a bearish tone. A break of the lows could be used to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
