I went short GBPJPY 161.93 just before the market just dropped and managed to get out before it started to rise for 47 pips. I like these sort of movements… all in less than 10 minutes. I suspect the price action would end lower after this bounce upwards but I don’t want to keep any positions open over the weekend.
Last night, I went short on the EURJPY after it looked like it made a double top.. I got in at 123.35 with a stop at 123.85 (50 points). I had a target of 124.65 and it got hit.. as I write this, the price action is at 122.85 which is almost 200 pips lower.. oh well, profits on the table but I made my 70 pips!
I am using the longer term charts meaning 1 hour and 4 hour charts to time my entries rather than the 5 mins and 15 mins before… although you still may not get the perfect entry, at least there is more chance of it going the correct way despite pullbacks and stuff!
Tags: currency trader, currency trading, double top, double top eurjpy, eur/jpy, Forex trading, pips
Last night I put on a short at 1.4983.. it was a lovely trade and one which I just closed at 1.4877 for +106 pips.
Tags: daytrade, daytrading, eurchf, foreign exchange, forex, forex pairs, Forex trading, pips, spreadbet, spreadbet forex, Spreadbetting
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