Tuesday, March 1, 2011

EUR/JPY - cross trade strategy

I see an opportunity on the EUR/JPY cross today!

if i look at the daily chart, there is a strong resistance at 114 level.















when i zoom into the 4-hour chart we can see the EUR/JPY ranging between 114 - 112.















Here's what i plan to do:
I've placed a market order to sell EUR/JPY at 114.
Once that order gets triggered i'll place my stoploss and Take profit order.

lets see how this works out!

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