Trading Analysis based purely on Price Action as taught by Nial Fuller at www.learntotradethemarket.com. All I post here are setups which i see fit to trade win or lose.
Wednesday, 7 November 2012
USD/JPY Analysis
Large pinbar candle on daily
Rejection off 8ema
Moving averages crossed and pointing higher
Trend up
Weekly and monthly charts bullish
Order to go long on pullback:
STOP: 7989
ENTRY: 8019
LIMIT: 8229
RISK/REWARD: 7/1
Stopped out here. Mistake i made was the pinbar was at resistance and election results seemed to be a major factor of news
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