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EURJPY PROFIT

19th May 2017 contacttf

Piercing Pattern is a reversal candlestick pattern which is bullish in nature and appears at the end of a down trend. It is a complex pattern made of two candlelines. The first candle is bearish in nature and the second is bullish in nature. It has its name because the prices pierces up through the falling market.

I took 2 trades at similar times. I took the on the bearish piercing pattern. The news at 10:00am BST meant that I need to be cautious and overlook my trade.

#eurjpy was closed manually, before hitting the cloud.

After trade analysis
Trade retraced back half way from entry. If I kept with my startegy, price is currently back down near my exit.

MACD is an acronym for Moving Average Convergence Divergence. This tool is used to identify moving averages that are indicating a new trend, whether it's bullish or bearish. After all, our top priority in trading is being able to find a trend, because that is where the most money is made.