We are Global Currency Scalpers, bringing you one of our three successful trading strategies. Centered on scalping of the Forex market. We realize that 65% of Forex traders lose money, some estimate it's as high as 90% of Forex traders lose money. At Global Currency Scalper we run three very successful and time proven trading strategies. This blog is intended to bring you one of those strategies with live Scalping updates. Don't be one of the Forex markets statistics!
Monday, March 30, 2015
New Signal EUR/JPY
*Position Update: As of 04/01/2015 10:37 EST the Global Currency Scalper covered its EUR/JPY short position with a gain of 27.9 Pips.
As of 03/30/2015 @ 8:31 EST:
We have identified EUR/JPY as a possible short trade. This pair has been in a downtrend since early December 2014 with very weak bounces. The recent bounce failed to breach the 23.6% Fibonacci level and has fallen into a consolidation phase. We believe this phase will eventually be broken to the downside.
The Global Currency Scalper will be taking a short position in EUR/JPY with a break of 128.800. Target will be 128.250, then the figure of 128.000 and ultimately the figure of 127.000. We will place our stop with a break of 131.000, any break of this figure before initiating our position will result in cancelling the order and making further analysis.
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