You don’t often say thank you to a bank….but it was a pleasure to wake up on Thursday morning to see my 4H trade on CADJPY come off so well…..175pips and 1.5% in the bag before breakfast.
It is a new thing for me….dumping the 1,2 and 5min charts and concentrating on 15mins upwards. Additionally I wanted to get into trades earlier and have gone from Breakouts to Bounces. Although the CADJPY trade looks like a break it is in fact a nice bounce off the Weekly and Monthly Pivot that was quite strong coupled with a pull back. Touch and go for a little as the Weekly and Monthly Pivots got tested again twice before BOJ came in and sold loads of JPY.
It’s taken a couple of weeks to re-train my eyes to scan for bounce set-ups, but so far so good. Certainly less hassle than staring at a 5min chart all day.
So far then – good week