Well it's been an excellent week this week. After having months of stomach, chest and now back pain, I've finally found out what's wrong with me (I have some very large gallstones), and it's been a very good week on the markets as well.

My 4 hour trading system incurred a small loss on the USD/JPY pair, but made up for this with a big winning trade on the EUR/USD pair, whilst the Forex Morning Trade system, which I trade every single morning, had another smashing week with an overall profit of 80 points, as you can see below:

Monday: +40 points
Tuesday: +40 points
Wednesday: -40 points
Thursday: +40 points
Friday: no trade

I get bored of saying this every week, but it still hasn't had a losing week since I first started using this system back in September last year. If you want to check it out for yourself, you can do so by clicking here.

Anyway back to my 4 hour system (fill in the form above for more details) and as I already mentioned, I made a small loss trading the USD/JPY pair. There were two downward EMA crossovers on the 4 hour chart. I didn't like the look of the first one because it involved taking a position late at night, but I traded the second one and went short at 81.75. This one went against me right from the outset and I ended up taking a loss of 32 points the following day.

Luckily the EUR/USD did the business. I went long after an upward EMA crossover on the 4 hour chart at 1.3815. I managed to close half the position for 50 points fairly quickly and let the other half run, moving my stop loss to break-even.

Because it made a new breakout high, I was hopeful of a big move upwards and set my target price at 1.3965. I did think about setting it at 1.40 (which I see has just been taken out at this precise moment after the latest unemployment figures), but these round numbers often act as strong resistance levels so I played it safe and looked to bank 150 points profit. I had to wait until the following day, but the price did eventually hit this target price and it was a very good result in the end.

There was one other trade to tell you about and that was on the GBP/USD pair. This was a straight forward breakout trade that I placed earlier today. The overnight trading range had been a pitiful 32 points (compared to an average true range of around 110 points), so when the price broke decisively below this range shortly after the London market opened, I jumped on board at 1.6262 and rode it all the way down to S1 (the first support level when plotting pivot points) for an easy 20 points.

Anyway that's about it for another week. Have a great weekend.