• Welcome to your Forex Forum - share your currency trading strategies, news & tips!
    Sign up Log in

Profit / Loss Analysis

Since the end of August, we have been observing smooth wave fluctuations near the levels of 1.0000 and 0.9900 and the formation of a divergence on the daily chart. Moreover, taking into account the daily downtrend, I see that the amplitude of its intra-channel fluctuations has significantly decreased after reaching the key level of 1.0000 and temporarily breaking through it. Despite the fact that the Euro/Dollar is below the key level, I count that the divergence allows me conclude about a further trend reversal or, as a minimum task, growth to the EMA 100 1.0300 and EMA 200 1.0620 levels on the daily chart.
On the four hour chart, the EMA 100 1.00085 and EMA 200 1.00556 levels will offer resistance and are likely to serve as markers to determine further growth.
The recent rush to 1.0200 and rapid fall back makes me very cautious, as the signals that the indicators show during news releases may be false. So if you are trading on support and resistance levels, then make sure that the price has consolidated after breaking through and use additional analysis methods to confirm.

Euro Dollar September 21 (Mi3uyb).png
 
Profit / Loss analysis September 21


EUR/JPY
After clear MACD signals (crossing the signal line and pronounced convergence) on the hourly chart, also price line position under the EMA 100 and EMA 200 lines, gave me reason to open a sell trade.
I took into account the possible risks that could be associated with support at 142.00 and it can be noted as EMA 100 on the four hour chart. But having shown patience and trust in my trading system, I was in no hurry to close the trade too early, during the pullback of 141.840 – 142.250.
In addition, I saw that the Euro Dollar (correlated currency pair for the Euro) did not receive enough support to break the trend.


The GBP/JPY is a currency pair that correlates with the EUR/JPY. The trade was processed according to a similar scenario. I traded the downtrend on the hourly chart even though the MACD was not as clear as the Euro Yen. I took this fact into account during risks calculation.
For both trades the stop loss levels had been placed above the nearest resistance levels.

Euro Yen profit trade September 21.png


profit loss analysis september 21.png
 
Top Bottom