Forex Technical
EUR/JPY
February 3, 2010
Fx-Enzo
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Chart Analysis
Today i chose to discuss the EUR/JPY currency pair as our major mover of the day.
From the past week we have seen several scalping opportunities to trade the EURJPY currency pair.
But, more specifically, there is one trade which could have been placed from the 60 minute chart using a simple candle stick formation that could and would have paid over 150 pips!
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Chart Analysis
In looking towards the smaller time frames, we were able to find and take advantage of several opportunities. Especially those of you who practice your scalping strategies.
Using our scalping strategies over the past few days helped us in making some profit, but not the same amount of profit had we taken the initial candle formation trade.
Either way we look at it, the EURJPY over the past 3 days has move significantly and, fortunate for us, we have been able to take advantage of it.
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Analysis
Looking back, we know there was a few different ways we could have approached trading this currency pair.
But, the trade we were able to take was a great setup and it worked out to be a great trade as well!
Using and utilizing the strategies provided by MTI can dramatically increase your performance and maximize your ability to trade successfully, for those of you interested in being a better trader call MTI today!
All of the analysis is done using the MTI 4.0 charting software, practice these, and other great strategies for FREE, by downloading a 14 day trial of MTI 4.0 charting.
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