FOREX Trade

USDJPY(5mins)

Analysis:
· Harami at the downtrend was observed, signaling end of downtrend, might go sideways or reversal. Need conformation.
· Followed by Bullish Engulfing, showed strong reversal pattern. Huge commitment should be followed after the Bullish Engulfing. However, the 2nd candle turned out to be small. Fearing of 3rd candle reversal, the LONG entry was on-hold. 3rd candle showed Marubozu. This showed a strong confirmation and commitment.
· A LONG entry was placed at 96.40 for 1 mini lot (1 x 10000). 4th candle turned out to be large commitment.
· Fearing of 5th candle reversal, the LONG position was closed at 96.72 for 1 mini lot (1 x 10000).
· Indeed, the 5th candle reversal was confirmed and followed by a doji. Then the candles went for sideways.

Trade:
Long Entry at 94.60 for 1 x 10000
Exit at 94.72 for 1 x 10000
Profit = 12 pips

GBPUSD(5mins)