Live Trade 122-124 – ANALYSIS AND RESULTS

Filed under: Learn Forex Trading |

 

There are three results in so far for our live trades, one of which has been successful and two of which have not. However, we do currently have two live trades still in play, and both are in good profits.

 

I would like to take you through the trade that was successful. This was a trade on the NZD/JPY forex currency pair, which is the pair for the New Zealand dollar and the Japanese yen.

 

Figure 1.

If you look at Figure 1, you will see the daily chart for the NZD/JPY pair. This is the chart that we use to assess the trend. As you can see, the 8-day EMA has recently crossed above the 21-day EMA, signalling that the pair has gone from being bearish to being bullish. There have also been many more white bull candles than black bear candles recently. With this kind of bullish momentum, it would be wise to only take long trades.

 

Figure 2.

Figure 2 shows the 4-hour chart for the same NZD/JPY pair. I have marked in a nice inside bar setup (highlighted in yellow), which came at a very good area of support/resistance. Gaps in the market also often provide good areas of support/resistance – and this is what we see here.

 

We put an order in to go long here at the break of the high of the mother candle, with a stop loss placed just a few pips below the low of the move, and a target of two times our risk. As you can see, this trade came off very nicely for a 2% rise on our bank. I’ll be back with more trade results or trade examples tomorrow. In the meantime, here are the official results.

 

 

OFFICIAL RESULTS:

 

TRADE 122 = -99.97 GBP

TRADE 123 = -99.97 GBP

TRADE 124 = +200.23 GBP

 

BANK = 9,404 GBP (-5.96 %)

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