Thursday, August 5, 2010

Trade setup - USD/JPY

Ok so here's an intra-day trade i picked up.

on the 4 hour chart dollar yen looks quite bullish. So i've been looking to go long.
on the chart i saw a crossover on the moving average and the stochastics and MACD positive.

I entered the trade at 86.33
stoploss at 85.98 - which is the pivot point and near the previous swing low.

i'll move my stoploss up if spot crosses above 86.50.

so lets see how things go today. Hopefully I have better luck today!

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