Well anyone who was short on the GBP/USD or EUR/USD pair and long on the USD/JPY pair will have done very well this week, and thankfully I myself had positions on the EUR/USD and USD/JPY pairs.

I didn't have a position on the GBP/USD pair because the EMA (5) stayed below the EMA (20) all the way on the 4 hour chart, but there was a nice downwards EMA crossover on the EUR/USD which allowed me to go short.

It was more of a failed upwards crossover than an outright downwards crossover but the very fact that it threatened to cross upwards but failed to do so gave me confidence to enter a short position.

I went short early Tuesday morning at 1.5531 and closed half my position later that day at 1.5480 and let the other half run. I held on as long as I could and eventually closed out on Friday morning at 1.5206 when it looked like the bottom had been reached. Of course it hadn't and it later went on to tank another 200 points but it was still an excellent profit and one that I was very pleased with.

The other positions taken were on the USD/JPY pair. The daily Supertrend was indicating an upwards trend so I was looking to take long positions here. I went long on Monday at 107.96 after an upwards EMA crossover on the 4 hour chart, but after rising about 30 points it fell back and hit my stop loss which I had moved up to break-even so no profits here.

The next position was a pure breakout trade. The price failed to break downwards which was a bullish sign, and when it subsequently broke upwards through the strong resistance level at around 108.40 which it had tested several times before, this was a strong signal to go long and I took a long position at 108.57 on Wednesday.

The price had strong momentum after breaking out and after closing half my position at 109.05, I let the other half run before eventually closing out at 109.23 after it fell back. It has since risen another 100 points and is still going strong but it was a decent profit nevertheless.

So overall it was one of the most profitable weeks of the year so far.

If you would like full details of my simple, but effective 4 hour trading strategy please opt in to my newsletter above.