EUR/JPY – Wednesday 9/24

 

A scalp based on:

 

  • Trendline analysis
  • Support and resistance

 

What else is on the chart:

 

  • Bands
  • Stochastics
  • Fibonacci retracement

These 4 images show a trade after I exited.

 

The following are 5 minute charts 9/24 evening, NY time.

 

 

The 3rd chart shows the entry and exit

 

 

There was a break of a long downtrend and some strength on the move up

 

A steeper, short uptrend line was drawn, and when it broke a short was taken. As soon as I entered the trade started taking heat as the steep trendline was going to be tested.

 

I exited about 40 minutes later, after the price broke down (through another longer trendline)

 

8 pips profit.

 

The price actually made 4 lower lows after that (>100 pips).

 

sample chart for blog

sample chart for blog 2

sample chart for blog 3

sample chart for blog 4

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s