EURJPY LONG- 109.90

[Mike]

Very simple trade tonight!

I even called this one to one of my friends and said price is most likely going to hit this balance point line and bounce up, and it almost proved me into a liar when price went slightly below the line but as anticipated (not predicted), stops had been set at that level and EURJPY has been simply ascending all morning long.



I mash up a 600t long term and 50tick short term chart to show you how it works on both levels and using it on shorter time frame charts helps for finding precise entry. Great trade!

[Pietro]

Damn mike, you make it look easy but I bet its not... be honest...

[Mike]

This is not my intent. My intent is to show how I am becoming more attuned to the market after all these years

[igotskillz]

Easy or not, i totally identify why you would enter a long position at the point you circled, and seeing it on a 600 Tick which is 12 times the magnitude of the 50 Tick chart, it is just as clear.

I commend you sir

[Juliem]

You keep repeating this idea of Forex being simple.

[Mike]

Sorry but I keep having to reiterate what I mean is that this trade was simple for me, not that Forex is simple, and I am pretty sure I worded it the way I meant it.

[TopTrader]

I like the way you handled this trade.

[Mike]

Thanks Top Trader.

Got a new one for you:

[samm]

what are indi's u use?

[Mike]

Sorry for the late reply.

I use a combination of things both in TopGun and MetaTrader these days.