GBPY/JPY Updates Last week July 2009

An article by Gus

Hey everyone, this has been pretty much a great week. All my strategies worked great and had a lot of pips made.

First of all my favorite the 4H breakout, even though the week isnt over I decided to close this out.

It went long at first then hit the 1TP and reversed all the way to trigger the short sell and hit 1TP.

Here is a quick screen shot of the trade, red circles are to enter the trade and the yellow circles are to exit the trade.

Again for this strategy I use the Monday 4H Box to draw the lines for me. You can go to the strategy page to learn more, or you can download the indicator below.

MondayH4Box

Second strategy the 15 Min breakout did pretty good.

I know that I originally made this to be used with the USD pairs only but I stopped that since the market was sideways the whole summer. I decided to switch it to my favorite pair the GBP/JPY

It has been performing pretty well, but I still only trade it on Tuesday and Wednesday which are the most volatile in my opinion.

Here is a quick screen shot of the trade, again red circles mean to enter here and yellow circles indicate where to exit.

Again for this strategy I use the New York Box Indicator. You can go to the Strategy Page to learn more or download the indicator below.

NewYorkBox

Finally the last strategy of the week and my newest one is the Master Candles and S/R lines.

This week we had two master candles form one inside the other one. This really prompted to me look out for a bit trade and it came.

Here is a quick screen shot of the trade.

Again the red circle is the signal to enter the trade, you would have a stop loss the size of the big candle and follow the trade normally 50 to 75 pips and add a trailling stop of 50 pips once you hit the profit level you want.

I waited to hit the support and resistance line at 155.90 and once it broke I knew it would go far. I closed out the trade around the 154.05 line since I was happy with my profits.

I am using the Mast Candle alarm indicator to set up the lines for candles. You can go to the strategy page to learn more or download the indicator below.

Master_Candle_v2