Well it's been an outstanding week this week with 5 winning trades out of 5. Admittedly not all of them were massive winners but it's still been a very profitable week on the whole. There was one trade on the GBP/USD, EUR/USD and EUR/GBP pairs and two on the USD/JPY pair.

So let's start with the GBP/USD trade first of all. This could have been a monster trade but I took profits far too early on this one. The trade developed on Tuesday morning when the EMAs crossed upwards on the 4 hour chart and I went long on a pull-back at 1.6113. The price initially went against me but I later managed to close half the position for 50 points and let the other half run, moving my stop loss up to break-even. Unfortunately I didn't anticipate such a strong move and exited far too early at 1.6272.

Anyway onto the EUR/USD trade, which was triggered yesterday evening. The EMAs crossed upwards and I went long at 1.4075. I closed half the position for 50 points once more and let the other half run but this time I was automatically stopped out at break-even overnight. Incidentally there was another set-up earlier in the week but the price didn't pull back enough to get a decent entry point so I didn't trade this one.

Now regular readers will know that I don't normally trade the EUR/GBP pair using my 4 hour strategy but I've been watching this pair closely recently, not least because I wrote a blog post about this particular pair last week where I predicted a big fall in the coming weeks and months. Anyway there was a lovely set-up for a short position on Monday and it was too good to pass up so I went short at 0.8714. Thankfully this position came good and I exited half the position for 40 points and banked a further 63 points with the other half of the position.

Finally there were two good set-ups on the USD/JPY pair this week. The first one occurred on Wednesday and the second occurred earlier today. On the first position I went long at 97.91 and exited half the position for 40 points but was closed out at break-even with the second half. With today's position I went long at 97.98 and managed to close half for 40 points once more and let the other half run, moving my stop loss up to break-even. I'm still in this position at the time of writing but hopefully it will get to my target price of 98.80 before the day is out.

So overall it's been an excellent week this week and to round it off I've also been given access to a new forex day trading course which has impressed me immensely. I shall be writing a full review of this product over the weekend and hope to have it up on my blog early next week, but you should definitely look out for it because the three methods included in the course do appear to be extremely profitable.

Anyway in the meantime you may be interested in learning more about my main 4 hour trading strategy, and if so simply fill in the short form above and you be granted immediate access to it.

Have a great weekend.