London open trap strikes again on the NZD/JPY

A good example of the session crossover traps which occur at the London open and this example is on the NZD/JPY 3 minute chart this morning. Note the initial selling and sign of weakness on high volume which appears first, then followed by the two confirmation candles before the reversal beings.

By Anna Coulling

Charts from NinjaTrader and indicators from Quantum Trading