Here is a quick blog from our Live Trading Room host, Dan Hussey. Take a look at how to manage your risk by using inflection zones to your advantage. The Live Trading Room is held daily from 11:30 AM EST until 1:30 PM EST, join Dan there for more insight into these proven methods of trading.
The GBPJPY traded its 171.30 equal legs inflection zone and it has responded with a 40 pip bounce to the T1 @ the measured 76.4% first target. The market is now looking for the T1 of the 50% retracement to trade into the 172.00 handle. We highlighted this area as the next support for the GBPJPY in yesterdays Live Trading Room (and in the daily recap for subscribers). Remember, trading isn’t about how much you make, or being right, its about managing risk and how much you DO NOT LOSE! Regardless of larger structure or trends, inflection zones have a high probability to trade from their ENTRY areas to their T1 (first target). We exploit this statistical advantage by using this inflection to manage our risk. Join us today, for a FREE live Trading Room Webinar event! from 11:30 AM EST until 1:30 PM EST.