Hi folks.
Here's my latest trade, you might have seen it if you have visited my
blog but here goes.
Combined with that the Japanese fiscal year ends on the last of March
and a entry point based on some EMA lines, I now have a very nice trade
going.
I added EMA5 (grey line), EMA13 (red line) and EMA62 (blue line) to my charts.
Now, GBP/JPY started to come down a little bit and my hunch has been
that we would see a fall after it hit 233 yesterday. That's my first entry
indicator, my hunch.
Then it happened, the EMA5 crossed the EMA13 line, now, we have a
small but yet a downmove established. Then the lower bollinger band also
crossed the EMA65 (blue line),
that's when I entered the sell trade
at 232.09.
And to top it off, the EMA5 line also crossed the EMA65 line and then the
EMA13 also crossed the EMA65, and down it went. :-)
The trade is still open, +100 pips is locked in though but I guess it will
be going down all week so I will hold on to the trade.
Here's the chart (hourly GBP/JPY)
The key here, at least when I am trading is that I take the shot when some-
thing interesting appears on the charts. Will it work
every time, no, but it
will work
many times and ones you hit it, there's a lot of profits to
be made.