Commentary & Chart of the Day: GBP/JPY

HELLO FRIENDS! My apologies for being MIA the last week, I took a mini hiatus from blogging due to the Easter holidays and such. Hope you all had a great Easter. šŸ™‚

So, today was an AMAZING…let me repeat–AMAZING day trading Forex. Everything was moving so beautifully, it was really hard to choose which pairs to get into. I settled on GBP/JPY and made a nice chunk of change trading that. Pip-wise, it was the best out there, selling off at least 500 pips from market open yesterday. Take a look at the chart below:

gbpjpy42009

Fantastic, right? It was quite a surprise that the market took such a turn, there was no major economic news out to drive this reaction at all. I honestly didn’t expect it myself, I traded for about 3-4 hours and exited my position before heading to bed, with over 90 pips in my pocket. Now, my goal is building the confidence to hold my position when I’m in a positive trade and not exit just because I feel the trend might change. Then again, I cannot really blame myself for being overly cautious because lately there has been quite a bit of choppiness in the market. Still, I am happy…I was profitable. It took all the strength I had not to get back in later, could have gotten more pips but many times getting back in turns out to be a mistake.

Remember: We must be alert at all times, you never know when things are going to take off…or break down.Ā  šŸ™‚

Expect a reverse of trend possibly for the next couple of days. Today’s move was dramatic, odds are it won’t last. What goes up, must come down.

Forexgal_1.

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2 responses to “Commentary & Chart of the Day: GBP/JPY

  1. Congrats! You are right on the ” what goes up, must come down” and vice versa. Haha. By the way, thanks for your comment in my blog. :>

    Happy Pipping Day!

  2. Thanks x 2 and you’re welcome! šŸ™‚

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