I bought the USD/JPY pair at 93.75 as it broke the bearish 5 minute pattern. I had initially put on a 100 pip target with a 50 pip stop. The market hit a short term peak of 94.15 and then headed lower.. I waited to see if it would go up against it again and yes, it did and start it fall away from it.. hmm, I could take my profit or wait to see what would happen. Looking at the 4 hour chart, the chart looks like it may go lower so I took my profit at 94.10 for 35 profit.
Hi All, Today is Bank Holiday Monday in the UK and in my previous post, I mentioned that I don't like to trade the market during these times. Best to wait for the traders to come back with some volume to start again. Well, that's certainly for the markets which are directly affected by the UK bank holiday. In other places, it isn't a public holiday so I looked at the charts, in particular, for something which should be affected directly by the UK holiday. I saw a pattern in the Forex ma
I was browsing through the internet and found out that Rich at the Forex Project was having a Forex competition.. this looked like some fun so I thought I would join and give it a go. Though I don't usually trade the Forex markets as much as I should, trading is trading and I'm hoping to build some long term links with people with some similar interests. I've not made it in my trading career (yet!) so it's important to find like minded people to share and express ideas.. if you grow together
