Posted by: joetradingplace | April 20, 2015

How to play FBO

Look at the 4 hourly chart of nzdjpy, yu can notice that price has broken out of the TL joining the high of 23/03 and 10/04. Notice how price is not following through after the breakout, this is a first signal i look for when i am looking for FBO…so if price fail to follow through and drop below 91.20..i will be selling this pair. But if price breaks the recent high my trade will be void.

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