Closed Position

Ok, I know below I said I will not be updating today but I just read an email from someone saying they follwed my analysis and decided to short the NZDJPY yesterday and have made over $3000 in a few hours but wanted to know when to come out of the position and where it was going to. I am answering the question on here as it maybe helpful for others too.

I never know where the price is going to. However, I can do analysis to give me some idea and I know the above chart will be difficult for most of you to understand but that is my analysis and it shows we have support displayed by MOB. As you can see, price hit that and reversed. That is not to say it wont go down lower but I am out of the position based on the support level.

If you are in a trade then where you take out your profits are totally up to you and I highly reccomend you do not rely on me to tell you as my updates will not be timely enough for most of you.

Well done to Picasso my Irish friend.

Happy Trading.