A good long tail bullish pin bar has formed this week on the GBP/JPY pair.
It has formed off a key level which was a previous resistance level. Since the price has moved above this level it has acted as support.

A second thing to note is that it has formed of the weekly lower Bollinger band, we can think of these Bollinger bands as river banks and very often price will change direction when it meets a Bollinger band (or the river bank). If we see a reversal pattern or bar form off these river banks, it is worth taking note.

The third thing to look at here is that the Pin bar has formed off of another support line, it is the uptrend line shown in the diagram.

Penis enlargement pills when used daily online viagra in appropriate quantity gives you preferred results. Purchasing online gives you the possibility of easy procurement of medication as well as giving you better viagra prices canada offers/discounts than your local pharmacy. These are soft cialis substantially cheaper than inflatable implants, but can be uncomfortable. Polish “safe sex, for example, utilizing latex condoms. deeprootsmag.org vardenafil 20mg tab

With these 3 supporting factors in place, this week, I will be looking at the shorter timeframe charts, most likely the 4 hour chart to look for a good entry point.
The idea here is that I can enter the trade on a lower timeframe chart and have a small risk : large reward ratio. I can then play out the trade on the weekly chart and for a small risk, I will aim to take hundreds of points on the weekly chart before looking for my exit.

It may take a few attempts to get in on the trade but the risk would be far smaller than if I simply enter the pin bar trade on the weekly chart with by stop below the tail of the Pin bar.

This is a strategy that I have been using for some time now and it is a much less stressful way to trade.

As always, make your own trading decisions and the best of luck to you.