Long EURJPY @ 129.29

14.41 bst

This pair moves so fast, by the time I can decide to go long it has jumped 20 pips. Anyway, here goes, the bullish momentum is very strong:

Long $20/pip EURJPY at 129.29. SL 128.40.

Advertisements

3 thoughts on “Long EURJPY @ 129.29

  1. Daniel

    Hi Zen, I see you are still trading your system. What happens to your plan of trading the swing by buying support and selling resistance with tight stop?

    Like

    Reply
    1. ZenFXTrader

      Daniel, I am testing that idea. i.e. I run those trades live in a demo account. I like the results so far – can make big gains. I almost went for this strategy today with GBPUSD – long at 1.5205, and with EURJPY long at 128.10, which turned out to be great trades. I need to see what is the win/loss ratio, so need a few days worth data minimum. Also need to define when is a level key enough to use this method. I need to develop rules for entry, stop-loss and exits, with known Win/loss ratio. That gives me confidence to take the trades and hold them.

      Like

      Reply
      1. Daniel

        I see, good luck with that. I think the most difficult question is to decide whether you should do momentum trade like your system or counter trend trade by fading move. It’s perhaps best to do counter trend of shorter time frame move if the trade js supported by higher time frame trend.

        Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s