Trade of the Day

Here we have a Japanese Yen chart showing a buy signal from a price of 89.610.  The green bar is a buy signal as it closed at it’s high which is also the high of the previous bar which was the end of a run of consecutively same colored bars forming a nice angle.  Once in the trade we can see that our moving Parabolic SAR stop loss would get triggered about half way through the purple lined sideways channel.   But if we recognized that channel then would we see that it was also halfway to a good exit target price at the whole cent of 90.000 for a profit of $500.  There was also a re-entry point just after the the SAR stop loss was triggered when the small green bar that closed at it’s high and  reversed the consecutive red bar run.