USDJPY Bulls and Bears Power
February 13th, 2009
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For teh set ups from today we will use Bulls and Bears power indicators. The Bulls power is above 0 and the price is above the 50 MA which means that the trend is up. In this case we watch the Bears power and when it breaks ZERO line upwards we mark the candle as “Signal”. Then we place buy order above the high of this candle and Stop loss below the low. You can see on the chart taht we had 2 long positions which gave profits of 30-40 pips. The last buy order was canceled, because the price hit the Stop loss price before the position is opened.
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