The GBPJPY trade ended up as a breakeven trade. Shortly after that, I enter a SELL trade on the EURUSD based on the FHEMA strategy which ended up as a 25 pips loss.
With the price moving up, it triggered my Trend strategy which has been added to the service this month.
At the time of writing this post, the price has move up by 10 pips.
Below is the screenshot of the trade
This trend strategy trade has a very good risk reward ratio of 1:4
However we still need to be very cautious with trading the EURUSD as it is still very indecisive on whether to move up or move down.
Although the price has been repelled by the 0.500 Fibonacci retracement and look set to move to the 1.618 extension, my 100 pips target profit will be at the 2.618 extension level. I will have to monitor this trade to see if I want to exit the trade with 50 pips at the 1.618 extension first and then wait for a good opportunity to BUY again to get the 2.618 extension.
For those of you who are interested in my forex course and trade copier service, you can take a look at the link below
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