In this post, I am going to share with you my analysis on the EURUSD and USDJPY for this thursday and friday
The USDJPY has change the trend to uptrend and we have made a good 120 pips from the upmove using my FHEMA strategy as we manage to enter the trade at the start of the trend again.
I have recorded a video for the trades to ensure transparency of my trade copier
In order to have more transparency to my trade copier, below is screenshot of all the trades that we have taken this month from 1st to 5th Feb 2020.
The last 2 trades are the FHEMA USDJPY trade that was done yesterday as per the video above. The 2nd and 3rd trade are the FHEMA GBPUSD that I have posted on my blog earlier. At the time of writing this post, we have another 2 EURUSD SELL trade ongoing.
The price has broke a major resistance at 109.751 but you guys have to take note of another major resistance at 109.890. You can see the picture below
For me and my trade copier user, our LONG trade for the USDJPY has hit our target profits and we will wait for the next setup.
If you are still going LONG for this pair, you have to take note of these 2 level.
For the EURUSD, we have 2 SELL trade at the moment and we have shifted the stop loss to breakeven now and therefore the trade is either a winning or breakeven trades.
Below is the screenshot of our ongoing EURUSD trades
Our target profit is set at 109.745.
Although the price is still in a good down move, we have to take note that there is a 1.09907 strong support level. Below is the 4 hour chart of the EURUSD and you can see the major support level that I have drawn
If the price manages to break below that level with valid breakout, it will be a good strong down move. For us, we will stick to our strategy and exit it at 60 pips even after it breaks the major support.
For a trader, it is sometimes very tempting to adjust our target profit but we have to always remember that the only way we can be profitable is to stick to our strategy.
If you are interested to join my trade copier, you can take a look at the link below