Last night the USDJPY charts made a double top pattern and I promptly sold. The odds seemed favourable so I got in at 98.20 with a 50 pip stoploss and 50 pip target I shorted it as it came away from it's second peak.. I was a little cautious as the market had been in a long uptrend but the chances I felt going my way were favourable so I went for it.. unfortunately, my stop got hit earlier today.
Last night I sat and watched the Forex markets and there was a spike up showing strong support at around 135.65.. this also coincided with a trend line in the 4 hour chart (as below)... this was a cue for me to go long and I did at 137.02 I put a 100 pip stoploss and 100 pip target price and went to bed. When I woke up, I saw that I was within 6 pips of being stopped out and that my trade had gone on to make a profit! Phew.. now that was lucky, usually I'll be stopped out first before
Well, I'm still running the demo account on the FXCM System Selector.. the date is 2nd March 19:30 GMT and the portfolio is now running at just under $97,000 which is a 3% loss so far. There are a couple of running trades still which are showing a cumulative profit of $1711.73. I'm short on both GBPUSD and GBPJPY on the Trend Escape trading system. It still early days so let's see how it goes..
