USD/JPY EXECUTED TRADING PLAN GENERATED + 45 PIPS
Last night in the trading room, I conducted currency analysis of several pairs where the USD/JPY was among them. The analysis took place while live stream of market data was feeding the MT4 trading stations.
No BUY/HOLD and/or SELL recommendations!
Below is the shared entry trade for the USD/JP:
Thursday, April 22, 2010
The Take Profit is the final destination. Check the various S&R while the currency pair is cycling up or down. Utilize the Expert Adviser for trailing while you are away from the Computer.
WARNING! HOT NEWS DRIVERS. Stay away from the reaction!
USD/JPY Weekly PIVOT 92.49
USD/JPY losing previous gain as the Wall Street rebounded and turns positive.
Preferred route (NOT CLEAR DIRECTION). Currently Bullish direction is in place.
BUY 93.68 S/L 93.18 T/P 93.84, 94.17 (FIB R3)
SELL 93.24 S/L 93.68 T/P 92.95.
====================================================================
Update Friday, April 23, 2010
After the release of the U.S. new home sales, the U.S. Dollar started to rally against the Yen and continued to 94.21.
USD/JPY is headed toward weekly gains of more than 230 pips. Current price as I write this post is 94.13. Opening price of the YEN during the U.S. session was at 93.79 a gain of 35 PIPS.
The execution of the plan took place, entry at 93.68 along with trailing the Stop/Loss and the Take Profit that many traders forget to do.
Total profit +49 PIPS . Actual profit taken +45 PIPS.
Regards,
Efraim
‘THE PIP DISPENSER’
Risk Disclosure: NFA (National Future Association)
Trading Spot/OTC Foreign currencies involves substantial risk and
there is always the potential for loss. Your trading results may
vary. Because the risk factor is high in Forex exchange market
trading, only genuine “risk” funds should be used in such trading. If
you do not have the extra capital that you can afford to lose, you
should not trade in the Foreign exchange markets. You must be aware
of the risks and be willing to accept them in order to invest in
the Forex markets. No “safe” trading system has ever been devised,
and no one can guarantee profits or freedom from loss. Unique
experiences and past performances do not guarantee future results!
Nothing in our live presentations, training courses, website, or other materials shall be
deemed a solicitation or an offer to Buy/Sell currencies in Spot/OTC
Forex Markets. No representation is being made that any account will
or is likely to achieve profits or losses similar to those discussed
or presented in any manner. Also, the past performance of any trading
methodology is not necessarily indicative of futures results. Foreign
currencies trading involves high risks and you can lose a lot of
money.
CFTC RULE 4.41: (CFTC = Commodities Futures Trading Commission)
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN
LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS
DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT
BEEN EXECUTED, THE RESULTS MAY HAVE UNDER OR OVER-COMPENSATED FOR THE
IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO
THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO
ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN OR DISCUSSED HERE, TRAINING MATERIAL, PROMOTIONAL MATERIAL OR ANY RELATED SERVICES. OUR COURSES, PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN AND ARE SOLELY AT YOUR OWN RISK.
