Caught a nice trade on EURJPY this morning. Currently deep in profit.
The bullish candle is highlighted in orange. It was not a complete bullish engulfing but I was satisfied.
Also, price was trading below both EMA 30 AND 40 but creating higher lows, which is telling me trend is about to change.
This will probably lead to price soon trading above the EMA lines.
Edit: I moved my stop loss to 1.5 retracement one price was close to 2.0 retracement and got stopped out with +24 pips
Edit 2: I shouldn't let fear enter my trades. Price has gone back bullish and on its way to TP even though I got stopped out.
The bullish candle is highlighted in orange. It was not a complete bullish engulfing but I was satisfied.
Also, price was trading below both EMA 30 AND 40 but creating higher lows, which is telling me trend is about to change.
This will probably lead to price soon trading above the EMA lines.
Edit: I moved my stop loss to 1.5 retracement one price was close to 2.0 retracement and got stopped out with +24 pips
Edit 2: I shouldn't let fear enter my trades. Price has gone back bullish and on its way to TP even though I got stopped out.
I am still a NOOB!!! Damn, there goes another 10 pips!