As the first day of the trade I thought I'd go long on eur / jpy since formed a beautiful candle "Hanging Man" at 4 hours (see graph). The fact that it has formed a candle similar for chf / jpy made ​​me think that it is a matter of real weakness of the jpy (at least on time of 1
hour). My only concern is that the Tokyo Stock Exchange this morning ended with a big loss , so as you know even eur / jpy is expected to fall . Therefore, although I believe there may be scope for further recovery (say up to at least 137.30 , but potentially even up to the 137.80 - 138 and also 139.10 ), I decided to close the position gain ( using trailing stop ) and stop at a price it seems to me that a first resistance . I also considered that there were some negative data for USD at 13.55 , so there are potential descents of optimism.
Another important factor is that I'm currently in first place in the signal leading to six months, and I would try to stay there , so I avoid doing too risky trades .
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