Live Trade Results – 154 & 155

Filed under: Live Trades |

I have two live trade results to tell you about today. The first was on the GBP/USD forex currency pair, which unfortunately failed for a 1% loss on our trading bank. However, the other trade, a long trade on the AUD/JPY pair came off nicely for a 2% rise on our bank. I would like to talk you though that particular trade right now.

 

Figure 1.

Figure 1 shows the daily chart for the AUD/JPY pair, which represents the exchange rate between the Australian dollar and the Japanese yen. This is the chart that we use to assess the trend, and we can see that price has been moving up. The 8-day EMA is crossed above the 21-day EMA, and this confirms that the market is bullish. In this kind of situation, we are better off looking out for price action signals that confirm this bullish momentum.

 

Figure 2.

Figure 2 shows the 4-hour chart for the same AUD/JPY pair. I have marked in an area of support/resistance on the chart. This first acted as resistance, and now that price has broken through; we can now see it as the new support level. When a nice pin bar formed right at this level, we put an order in to go long at a 50% retracement of this pin bar, with a stop loss placed just a few pips below the low of the pin bar, and a target of two times our risk. Figure three shows that this trade came off very nicely to the upside.

 

Figure 3.

That gets us back on track a little after a very bad run of results, which wiped out much of our monthly profits. However, we are still up over 4% for the month, which is very respectable, and hopefully we might even add to that a little today.

 

Official results:

 

Trade 154 = -100.40

Trade 155 = +200.22

 

Bank = 9,727 GBP

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