Free Forex Price Action Trading Strategies / Psychology Site

Wednesday, 5 June 2013

LONDON CLOSE - Roundup

Today saw a general strengthening of the JPY but the prime mover was weakness in AUD.
The big down move in AUDJPY began during the Tokyo session with a 4H engulfing bar:


There were several opportunities to enter a MTFM trade from the 15 minute chart during both the London and Tokyo session. 4 winners and 3 losers giving a total maximum net gain to date of +520 pips!


There were also entries on other pairs EURUSD which was choppy (3 losers), GBPUSD (2 losers, 1 winner), and AUDUSD (1 winner).

There was a good-looking Trend Engulfs entry on GBPUSD long, which is currently in profit. I took this but exited at break even after the pin bar:



Finally there was a Ponshada Pin entry short on EURUSD which I did take. These have a high win rate although this was not one of the best set-ups due to the price action below the entry bar. It is still open and working at a loss right now, though hopefully it is beginning to turn around:


All in all a busy day.






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