Awesome Oscillator Divergence in Yen Dollar Pair
April 23, 2009
The divergence occurred at around midnight GMT, but I decided not to take any action, because it was the Japanese Yen – Dollar pair. I rarely trade this pair because by nature, this pair is insane. Although it could produce a nice 50-pip profit if one did enter the trade – buy at around 97.70 and exit at around 98.20. However, if I had set it up as the normal 100 pips profit / stop loss targets, I would have probably exited with a 10-pip profit by now because I would move the stop loss to 10 pips above the entry point after I was 40 to 50 pips into the profit zone.
