Tuesday, April 13, 2010
RE: 130 Pip Move On Yesterday's Trade Call
Going into the NY session, the EURJPY did make a break below 127.00, as I suggested we watch for. CLICK HERE to read the trade setup. Price fell to the next support area of 126.50 and rode that out until Tokyo open, where the Yen picked up some momentum and drove the Yen pairs down. This move closed the price gap, formed over the weekend, down to 125.70.
For you newbies, this 130 pip move, equates to a potential +100% profit on the trade. As I've said in the past, "Success is not in the quantity of trades you make, but rather in the quality of trades."
I hope this helped some of you. A video review of the trade is posted below.