It’s 16:08 pm GMT. That’s it for this position. Managed to add some 35 more pips, and left a lot on the table. Business as usual. Not bad.
Here’s the (ugly) hourly painting:
Moved the Stop Loss to 113.00 making sure I get at least 112 pips from this trade.
here’s the hourly chart with a nasty Hanging Man reversal formation having formed in the last hour:
You can appreciate a resistance level forming at 114.72 on the hourly chart of EUR/JPY. I hope we can go beyond it by the end of the day.
Hi guys, its 06:20am GMT and I just moved my Stop Loss to 112.50 (slightly lower than yesterday’s low) and set a Take Profit at 115.30. Why 115.30? Well, if you use a pivot point calculator like the one I’ve linked to in my “Sources I Like” links area, and take yesterday’s high, low and close, you’ll see we have a resistance level at 114.82, which I think will be broken, and the next one is at 115.43 around which point I believe the action might stop.
The daily chart of EUR/JPY as of now:
