Wednesday, March 18, 2009

Trade of the Day

I entered Long on EUR/JPY at the price 128.40 

Black Line = Enter Price
Red Line = Stop Loss

From the chart, we can see higher-low formed, based on the Elloitte Wave pattern, and with reference to the 1-Hour SHI channel line, it shows as an upwards trend. 

Next looking at the indicators shown at the bottom of the chart, all indicators are supporting Long. QQE is rising above 50, and CCI has turned blue.  

Update: Stoploss Hit. Ends up as a lost trade

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