Some of you know that I’m testing the Trade Triangles from INO Market Club. I think they make a good add-on, although the signals don’t come all that often (after all, overtrading can kill you too.)
There’s been a new Trade Triangle for EURJPY. If you had been following my EURJPY Forecast, you know that I’ve been fairly cautious of this pair due to volatility, however, price rejected off the bottom of my corrective channel as I predicted and made it’s merry way up. I was cautious and had taken profit early.
The INO Marketclub now has a nice Trade Triangle for EURJPY, fairly hot off the oven.
The signal is for a long at 100.90, and it appears that a fractal high has been broken, so it does make for a logical location for a long position. Looking at the technicals of the daily chart, you will need a fairly large stop loss. Or if you wish to be conservative, you can place it at the low of the signal bar.
Let’s watch and see.
