In this article I want to share my 3 trades taken last week on my LIVE account. These trades were taken according my trading approach described In my last article. Because this is not a signal service, article is written after trades. My trading is based more on technical analysis than on fundamental.
Everybody who is watching forex market knows what the moves happened last week. For each trade is picture where are 3 lines, RED is Stop Loss, BLUE is Entry. GREEN is Take Profit.
1. Trade: EURJPY + 241 pips
On the picture you can see price action for few weeks. I was waiting for news for EUR, don’t take a trade before news. When price went down from daily high on H4 time frame a jumped on trade with very good risk reward ratio. After entry when price fall below yesterday’s low it was rally! (see figure 1)
Figure 1. EURJPY
2. Trade: USDJPY + 167 pips
On this picture is price action for few weeks. I was waiting for news for USD, don’t take a trade before news. I had SELL STOP order below few days low. When price went down I was on trade with very good risk reward ratio. Stop loss was above today’s high. After entry when price fall below it was rally! (see figure 2)
Figure 2. USDJPY
3. Trade NZDJPY + 69 pips “only”
On this picture is price action for few weeks. There wasn’t any news announcement. I had SELL STOP order below few days low. Next morning I moved my Stop Loss, after some time was hit with + 69 pips. It is green line where trade finished. (see figure 3)
Figure 3. NZDJPY
As you can see, no indicators. Many traders is using a lot of indicators, what will hide real price, I don’t. What you need to understand is price behaviour. I finished week with nice profit. What is important is that if you will keep rules written in my articles, you will watching higher time frames, from H4 and more. It is good time frame, all sessions are covered and you have not a lot of candles for analysis. With proper money management you have good feeling from trades. The best way for learning is from recorded successful trades. Each entry must have a sense, but not only for you, but for bigger community of traders around the world.