Hi guys!

Today a nice long opportunity was panning out on GBPJPY. It was actually a similar formation I spotted a couple of days ago on EURJPY (still on that trade for +80 pips profit as I write these lines by the way), meaning a “W” formation off the longer time frame up-channel bottom. In fact, both set ups are virtually identical.

But why have I passed on the GBPJPY whereas I took that EURJPY entry few days ago? because today is Friday afternoon and I NEVER enter any position prior the weekend. It’s a golden rule of trading: don’t trade Fridays beyond noon London time. The reasons behind this statement are explained on the video below.

Have a nice weekend folks!