My trade plan for 25th Feb 16 On GBP/JPY
I am looking to wait for price action to rise back up to my one hour 55 ema, which would be 21 ema on my 4hr chart so long has the 21ema hold as resistance then price will return to fall once again.
As you can see on my 4 hr chart, my stochastic is in over brought zone so I will expect price to rise back to the 21 ema
If I see price retracing lower i will place a sell trade.
Have a great day trading