Hi everyone last week I posted the charts of two setups the EURJPY and CHFJPY. These 2 gave nice profits see below.
Both pairs hit our target of 261% fib levels giving a nice risk/reward of more than 1:2. The CHFJPY then flew off like a rocket to the upside.
Another entry taken in the week was the USDJPY which was a pin bar bounce entry.
This as well hit our target of 261% fib level. With patience and discipline the setups will work out. There is a myth that daily charts are too slow and one can't make good profits but so far we are proving the skeptics wrong. I have posted 4 live trades 3 winners and 1 loser. We made more than 1:2 risk/reward and have risked 2% per trade so we have 3 x (2x2) - 2 = 10% increase in account balance after 2 weeks with just 4 trades. Less sometimes can be more. No need to stare at the charts all day.
The final trade taken for this week was on the AUDUSD daily chart. See image
The EMAs just crossed then price pulled back to form a pin bar, for which our setup got trickered. So far the trade is on the positive side so let's see how it plays out. Until next time happy night time trading. May the pips be with you.