Placed a BUY on 
EURJPY is trending bullishly for the month and week charts. On daily charts RSI not showing in overbought region yet. Thought this would be a pretty safe buy to ride for about 50 pips.
Disclaimer: I'm Testing Strategies on a DEMO account! Not trading with live money (yet)!
Current Strategy: This strategy uses Heiken Ashi candles. I analyze the Month, Week, and Day charts simultaneously and place my entry based on day chart analysis. All charts must be congruent in trend. I also use an RSI to see if currency is overbought/sold. My lot sizing is based on 10% of account balance risk. My Take Profit is placed at a close place where price has gone before. Stop loss is 10 pips beyond the opposing extreme where price has been before. Stop Loss must be placed about 2-3 times the distance the price has to go as opposed to where my Take Profit is placed.
My Demo Trade for this idea:
Position: Buy
Pair:EURJPY
Current Price: 132.966
Take Profit: 133.439
Stop Loss: 129.288
Lot: 32,979 units
EURJPY is trending bullishly for the month and week charts. On daily charts RSI not showing in overbought region yet. Thought this would be a pretty safe buy to ride for about 50 pips.Disclaimer: I'm Testing Strategies on a DEMO account! Not trading with live money (yet)!
Current Strategy: This strategy uses Heiken Ashi candles. I analyze the Month, Week, and Day charts simultaneously and place my entry based on day chart analysis. All charts must be congruent in trend. I also use an RSI to see if currency is overbought/sold. My lot sizing is based on 10% of account balance risk. My Take Profit is placed at a close place where price has gone before. Stop loss is 10 pips beyond the opposing extreme where price has been before. Stop Loss must be placed about 2-3 times the distance the price has to go as opposed to where my Take Profit is placed.
My Demo Trade for this idea:
Position: Buy
Pair:
EURJPYCurrent Price: 132.966
Take Profit: 133.439
Stop Loss: 129.288
Lot: 32,979 units
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.