GBPJPY Simple Day Trade Entry *Learn to Day Trade*

OANDA:GBPJPY   British Pound / Japanese Yen
Here is another example of a very simple yet effective day trade that can be learnt and used on almost any financial instrument, not just FX Currencies.

This strategy relies on the ability to spot a trending market in the current timeframe and then utilises a few key trading tools to identify a high probability trade entry.

You will need:

Trendline Tool
Daily Pivot Points
Price chart set to candle sticks

By layering all of the above tools you can find entries with a very high probability of being successful. These trades are designed to be quick and last no longer than a day or 2 with very little management required.

Entry Criteria = On the chart

Stop Loss = 10pips below current low

Profit Target = Daily R1
Extended Profit Target = Daily R2

With an initial R:R of 1.6:1 and an extended R:R of over 3:1, this style of trade can be very successful in the long term.

If you want to learn this strategy then I have written a guide that is available on the Amazon book store. It includes back testing data and advanced techniques to further increase the profitability and success of this style of trade. The link is below:

Trade active