Okay traders,
We have seen a recent push up on EURJPY pair and it has broken the trendline. The pair pulled back and retested the support already and showing bullish signs which suggest we might as well see another leg of bullish run and this time it should aim for the upper resistance level.
As there's plenty of pips we are talking about hence it is prudent to open 2/3 smallest lots and close each trade on 100 pips. (IE 1st trade close at 100 pips, 2nd trade close at 200 pips & 3rd one close at 300 pips to avoid disappointment. In Forex, thing always doen't play out the way we want but we can take advantages when thing fall in places.
Once it reaches 100 pips, the trader should move their stop loss to entry position to enjoy risk free trade.
Let me know your thoughts.
Trade safe and good luck.
We have seen a recent push up on EURJPY pair and it has broken the trendline. The pair pulled back and retested the support already and showing bullish signs which suggest we might as well see another leg of bullish run and this time it should aim for the upper resistance level.
As there's plenty of pips we are talking about hence it is prudent to open 2/3 smallest lots and close each trade on 100 pips. (IE 1st trade close at 100 pips, 2nd trade close at 200 pips & 3rd one close at 300 pips to avoid disappointment. In Forex, thing always doen't play out the way we want but we can take advantages when thing fall in places.
Once it reaches 100 pips, the trader should move their stop loss to entry position to enjoy risk free trade.
Let me know your thoughts.
Trade safe and good luck.