I'd like to talk about yesterday's EURJPY long trade a bit this morning..
I make trade decisions based mainly on daily and 4 hour charts most of the time. Unless I'm intentionally scalping.
For daily charts I use mainly my FXCM charting while I use MT4 platform for entries.
Yesterday's EURJPY long was mainly based on a test and bounce for the second day in a row of the tunnel on the daily. That's what sold me on the idea of entering the trade. You can see this test on the daily chart. I have removed my ICHI cloud for the sake of clarity. The tunnel, as most of you likely know by now, is 2 EMAs set to 144 and 169 making it sort of the core of the 100 and 200 EMA.
Since it was below the 13 EMA [dark black line] it would have to be considered a counter-trend trade.
While this was a small counter-trend move it yielded a total of about 151 pips.
Entries were 115.64 and a 2nd was added on a pullback at 115.47
Exits were 116.15 and 116.46 respectively.
Here is a 30 minute chart showing approximately where the entries / exits took place.
Most of the time I watch 5 minute and 30 minute on MT4
Hope this can help someone out there in some way ;)
Greg
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