This is an afternoon trade (Pacific Zone) about one hour after Tokyo open. It's another counter trend trade, which is always hairy. There was actually a much better (pip wise) trend trade immediately following this, however the signal was not noticed by me since I was busy managing a tough trade.
So, price had come back up from a low of the new Asian Session (A/S). It ran right on by the 15m 10 ema, up to resistance. Using a 10 pip stop, I entered on first touch back down of the 10 ema.
As you can see, price was a teenager in the Mall of America, with Daddy's credit card, for the 1st time in their life. If I'm offending any teens out there, you just got busted for Trading Under Age. I digress.
I was looking for price to go to the Blue 50 ema on the 15m. Well aware of the "Junk in the Trunk" hanging out just above the RN 50 @ 112.52-3, but figured price might be fixin' to punch up enough to at least hit the 50 ema for a nice 14 pip gain on 2 positions.
This trade was very slow in setting up, and when it did get back above RN 50, it really was feeling like a stall, so I took out 1st position for +5.9 and moved my stop up to -2. After watching price linger there too long, I decided to cover my final position, still in profit, 4.6 pips.
I gotta take my hat off to those people took the time to notice this stuff. Most of the time, the way price reacts to these MA's, I wonder if Harry Potter's not involved...
MA's:
Green =200 ema
Blue = 50 ema
Gray = 35 sma
Red = 10 ema
*Not sure what order the "Trade Opening Chart" shows up in, however it is the one with 3 charts on one window.
1st Chart is 15m
2nd is 5m
3rd is 1m
So, price had come back up from a low of the new Asian Session (A/S). It ran right on by the 15m 10 ema, up to resistance. Using a 10 pip stop, I entered on first touch back down of the 10 ema.
As you can see, price was a teenager in the Mall of America, with Daddy's credit card, for the 1st time in their life. If I'm offending any teens out there, you just got busted for Trading Under Age. I digress.
I was looking for price to go to the Blue 50 ema on the 15m. Well aware of the "Junk in the Trunk" hanging out just above the RN 50 @ 112.52-3, but figured price might be fixin' to punch up enough to at least hit the 50 ema for a nice 14 pip gain on 2 positions.
This trade was very slow in setting up, and when it did get back above RN 50, it really was feeling like a stall, so I took out 1st position for +5.9 and moved my stop up to -2. After watching price linger there too long, I decided to cover my final position, still in profit, 4.6 pips.
I gotta take my hat off to those people took the time to notice this stuff. Most of the time, the way price reacts to these MA's, I wonder if Harry Potter's not involved...
MA's:
Green =200 ema
Blue = 50 ema
Gray = 35 sma
Red = 10 ema
*Not sure what order the "Trade Opening Chart" shows up in, however it is the one with 3 charts on one window.
1st Chart is 15m
2nd is 5m
3rd is 1m