Well it’s the morning of Good Friday so I’m obviously not trading today, but it’s been an excellent week this week. I traded two positions in total using my main 4 hour trading system – one on the GBP/USD pair and one on the EUR/USD pair – and both yielded some excellent profits.

As regular readers will know, I’ve been looking to go long on both the GBP/USD and EUR/USD pairs because although the Supertrend indicator is still red on the daily chart, and therefore indicating a downward trend, I just feel that they are both massively oversold.

So I was looking for upward EMA crossovers on the 4 hour chart of these two pairs, and this first occurred on the GBP/USD pair on Monday morning. There was a big crossover candle followed by a nice pull-back which allowed me to enter a position at 1.4983.

The price then drifted sideways for most of the day and I was worried that this was going to turn out to be a false breakout, but thankfully the upward trend continued the following day. When I switched on the computer the next morning I was delighted to find that I was around 70 points in profit so I immediately closed half the position for this amount (I normally close half the position for 50 points when I’m at my computer) and moved my stop loss up to break-even.

I then let the other half run and eventually closed out at 1.5183 on Wednesday afternoon to bank a profit of 200 points with the second half of the position. As it turned out there was another 100

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