Hello dear friends,
I usually don't trade Firday because it can be very chaotic so 90% of cases I'm out for the weekend since Thursday evening :)
But, CAD/JPY gave a real good signal so I took advantage of it.
Here is the chart and bellow the specs:
At 12.00 PM GMT the 2 EMAs crossed
MACD turned down at 15.00 GMT
W%R made a nice retrace above -80 level
17.00 GMT: SELL Order @ 97.92 with 2 lots (spread 4)
Stop loss: 98.10 + .04 spread = 98.14
Time of trade to reach target: 10 minutes (because of the spread. if the spread were less than 4 target would have been reached in 3-5 mins)
Target reached: 97.82
Profit: 10 pips x 2 lots x $10/pip = $200
That's all for today. Have a nice weekend. See you on Monday with more signals, charts and stuff. You can find more about my strategy on my website or you can subscribe to my feed to stay tuned with my signals.
Happy PIPpin' and stay tuned for the Third Lesson of Pipology :)