Guest post by Jason Madison of beatwallstreetnow.com
I am back to alert you to another highly profitable trading opportunity emerging in the Eur/Jpy. By now you all should be familiar with the inside candle breakout technique I have showed you in previous my previous post. If not, get yourself up to speed by viewing it here.
Today I am alerting you to a potential trade that is currently forming in the Eur/Jpy. Let’s take a look at a chart to see what I am talking about:
This is a daily chart of the Eur/Jpy and as you can see from the yellow lines the pair has been stuck in a inside candle patter for most of the month of may. Now the thing about these patterns in that the longer the price action is inside of a candle the larger the move is when it finally breaks out. And considering the fact that this pattern has been in effect for 14 days now. It’s safe to say that when this thing breaks its going to move hard.
There no way to tell when this breakout is going to occur. It could occur today, tomorrow, or two weeks from now but when it does its going to be an amazing opportunity for profit.
Just remember not to take a trade until after the breakout occurs and then trade in the direction of the break. If this trade takes a long time to develop don’t get frustrated just continue your trading as usual and remember to check on it after the close of each daily candle to see if price has closed outside of the yellow lines. Also remember the longer price stays in the pattern the larger the breakout and more potential pips for you.
And if you have any doubt about this technique then look at the chart below:
This is the same exact chart but with the previous inside candle as the focus. Look at how price moved down after the breakout. Price moved down for nearly 1000 pips before there was a pull back.
Now its too late for you to profit on this trade, but I have showed you what you need to do to profit on the next. All you have to do is act. Until next time.
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