My main 4 hour trading strategy usually generates profits on a consistent basis but unfortunately I've had some disappointing results this week. There were no trading opportunities on the GBP/USD pair and the EUR/USD looked like it was finally running out of momentum, so I was left with the USD/JPY which generated two trading opportunities.

Unfortunately both of these positions went against me. The daily Supertrend was red so I was only looking for short positions on the 4 hour chart and the EMAs looked like they were crossing downwards on Tuesday and Wednesday.

I entered the first position at 95.75 but the price didn't quite hit my initial 40 point target and after reversing I was automatically stopped out at 96.00 overnight for a loss of 25 points. I entered a second position a little prematurely at 95.81 but this also turned out to be a false crossover and I took a 50 point loss on this one.

So overall it hasn't been one of my better weeks but I did at least manage to salvage a few points earlier today because the FTSE crossed upwards this morning and I managed to bank an initial profit of 40 points after entering at 4427. However after moving my stop loss up to break-even with the second half of the position I was automatically stopped out at this break-even point, which just about sums up my week.

(If you like to receive details of my main 4 hour trading strategy, you can access it by filling in the short form to the right).