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Wednesday, December 17, 2008

USDJPY 123886?

Good evening to you all,

Congratulations to all of you that profited from the Cable trade that we have been talking about over the last 2 days. There was a 448 pip movement from the high to low.


Anne's post on the third musketeer the EURUSD on 7th December showed a triangle. The price at the time of writing was around 12717, it has since moved fairly consistently upwards (mainly bullish bars on the daily chart) and today reached a high of 14156. Just from trading this pair alone based on the post, a potential 1439 pips could be captured in a matter of 8 trading days, not bad for very little work and good trade management!


I have chosen the USDJPY today. You can see a possible 123886, there is MACD divergence visible on the 240 and daily timeframes. As always please do your own analysis for self accountability is a trait required by a winning trader.














Abundant trading
Bijal Shah

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