Lessons to learn: EURJPY

By | November 26, 2013

I almost went long after seeing the initial 2 leg pull back + HL

However, luckily I spotted that on the 3rd HL (it is actually a 2 legged pull back which means that the 3rd HL has not formed yet, and I should not take the trade)

EURJPY

Still went higher in the end…

I’ve learnt even if HL breaks 2 leg pull back high, it is still valid. Similar to this EURUSD trade 21 Nov 2013 6.45pm GMT+8 (have not seen a trade that failed because of this, but you must buy only when it breaks above the high of the HL, not when it is pulling back)

EURJPY

EURJPY

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