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 My first trade with EURJPY
 
 1/10/2007 3:58:22 PM
User is offlineBrianTran
155 posts
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My first trade with EURJPY
Hi, this is a new adventure for me since GBPUSD has been my main squeeze. But I've seen some very nice smooth trends coming from this pair that I had to try my hand at it. In addition, since each pair has only so many number of opportunities for me, adding this pair would give me more opportunities for more gains (or less LOL). Let's give it a few tries, if I like it, that is, if I make money with it, I'll keep it going.
The sum is greater than its parts.
 1/10/2007 4:03:14 PM
User is offlineBrianTran
155 posts
5th




Re: My first trade with EURJPY
As everyone knows, I'm a chart pattern and price action trader, all TA and no FA (fundamental analysis) since my trades are short term, usually less than 24 hour holds on any position. I spotted this one making a small bear flag after a decline from a new high. One the breakout to the downsite, I took a short with a stop above the top of the bear flag.

The sum is greater than its parts.
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 1/11/2007 8:27:05 PM
User is offlineBrianTran
155 posts
5th




Re: My first trade with EURJPY
I got stopped out at 155.20 but went long immediately when it broke resistance above 155.40

The sum is greater than its parts.
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 1/11/2007 8:30:52 PM
User is offlineBrianTran
155 posts
5th




Re: My first trade with EURJPY
I left a .0020 trailing stop and finally got stopped out at 156.14. Was lucky with the pop up. Intention of using trail stop is to protected the gains and leave some room to let it push further if there was more. Trail stops work best in fairly fast trending markets.

The sum is greater than its parts.
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 1/12/2007 9:05:50 AM
User is offlineBrianTran
155 posts
5th




Re: My first trade with EURJPY
Looks can be deceiving. On the lower frames, looks like it's bullish, inching up little by little. From the 240-min view, hmmm, very suspicious. Now with the price action in that area have been choppy, it appears the bear flag might be at play. Keep watching for a possible break and plan the entry accordingly.

The sum is greater than its parts.
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