Trading analysis of recent trades GBP/JPY and USD/JPY
Overview data:
- 5 trades for the period from April 19 to April 24.
- 4 trades out of 5 are profitable and closed at the take profit.
- 1 losing trade was closed by stop loss.
- Fully completed trading plan for the week and for the month: April profitability is 9.67%. The amount of profit for April is $868,636.42
I would like to show the 2 most interesting trades.
The GBP/JPY trade is undistinguished according to the open and close. A fairly clear MACD signal and a decline below the key level of 167.00 was confirmed by an additional crossing of the EMA lines, in addition, a clear formation of a correction on the uptrend was an important decision-making factor. This trade is important because it shows the moment of endurance and patience. On the chart, I marked 3 moments during which the price went into the loss zone, but nevertheless, trading according to my strategy and plan, I decided to wait further and, as a result, made a profit with a take profit. Of course, after the MACD 200 line was passed on short timeframes, and the EMA 100 line was crossed on the hourly chart, I was already sure that the temporary market return and a small drawdown would be insignificant. The MACD signal was quite clear, with a passing to the zone of negative values on the hourly chart, and this confirmed my confidence. The take profit level was set above the key level of 166.500 influence area.
The USD/JPY trade is interesting as an example of analysing possible movement scenarios and strictly following the established plan and trading system. The trade was opened according to the uptrend, after unsuccessful attempts to break through the channel support area, as well as EMA 200 on the hourly chart. At the same time, I saw that the levels of 134.00 and 133.900 will provide support.
However, after the opening, the market immediately went down, trying to create a false breakout of the EMA 200. I was ready to take a loss if I received information about a possible deep fall and trend break, but instead, the MACD showed divergence on short-term timeframes , and on the hourly chart, the MACD signal line was not crossed confidently, thus allowing my to wait.
Despite the tense period after the open, my patience was rewarded as the market impulsively continued to move with the trend and returned to the area above the EMA lines on the hourly chart. The market confirmed quite strong growth markers, so the following decline was not so important, I saw that the market would return to 134.400 – 134.500 and therefore I set the take profit below the top level to be sure that the trade would be closed with a profit.
