Asian Session, Then European Session EURJPY Scalping is Fun

I wanted to show a few more EUR/JPY trades. I’m continually attracted to this currency pair. It’s almost always active. It just takes a bit of patience to select the right trades so as to not get “faked out” by false moves. This is critically important on this pair, as the spread is higher, and the “spikes” more frequent…but the reward is some BIG moves that are fairly easy to stay in with decent exit signals.

I took several trades earlier this evening, around 6:10pm US Central, went to dinner, and when I looked again at around 8:10pm US Central, there was another trade. For those Logical Forex Family Members who usually trade “after work” or “in the evening”, I hope you were trading then. :-) If not, just scroll back in your charts and see how easy this was to trade…then trade this way “tomorrow” looking for the same kinds of setups. They happen regularly…you just have to be able to see them and identify them. You have the tools! Use them!

After some “rest time”, I got back to trading around 1:30am US Central, and that’s what these forex charts below reflect.

I believe the charts I’m showing here will give you some pretty decent clues as to what to look for to keep from being faked out. And, yes, I still get faked out from time to time. That’s just part of the business of trading.  One thing that does happen frequently with the EURJPY is there will be a spike against you, then it will “recover” and continue in the “proper” direction…the direction you traded.

Winning trades with the EUR/JPY pair basically comes down to

(a) are you patient enough to wait for setups,

(b) “how good are your nerves”, and how do your manage your own MIND during this period.

So much of trading is mental. I hope to cover that more in a future post, but it’s your trading psychology, risk tolerance, and mental profile are something I cover deeply with you (and tailor just for you) in a private one-on-one Logical Forex workshop.

I’m not going to comment on these following trades at all. If you really observe the charts carefully, you’ll see many specific details of how to trade using the Logical Forex Trading System. Use the Clues!

*** TRADE #1

Scalp For Nice Pips - Click to Enlarge

Scalp For Nice Pips - Click to Enlarge

Exit #1

Scalp For Nice Pips - Click to Enlarge

Scalp For Nice Pips - Click to Enlarge

*** TRADE #2

Wait for Bounces - Click to Enlarge

Wait for Bounces - Click to Enlarge

Exit #2

Wait for Bounces - Click to Enlarge

Wait for Bounces - Click to Enlarge

It’s been a long half-hour day of trading. :-) I’m going to stop now and enjoy the “rest of the day” doing other fun stuff.

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