NZDJPY STOCH Cross and 62 EMA cross 29JUL08 – In the money CLOSED

NZDJPY STOCH Cross and 62 EMA cross – This is a quick little trade that I saw.  Two of my favorite setups, one is a Stochastic crossover indicating the pair is going to fall, and a cross back down through the 62 EMA which resumes a previous downward trend.  I am so hyperfocused on the GBPJPY and EURUSD for the past few days, I am glad to find this little trade.  Only going for about 35 PIPS as this is normally a slower moving pair.  Risk is very low even if the trade does not work out.

 Update – this trade worked out textbook.  I closed it at the previous low on the oversold bar below.  I scaled in two possitions as this was a nice slow moving trade.  I got the bonus of the trade closing during rollover at 12:00 a.m. and a fast oversold spike.  I had a stop market on and picked up an additional 18 pips!

Here is the trade opening:                                                                                             

NZDJPY STOCH Cross + 62 cross   

 Here is the close – I got out at the large overbought just before breaking the Mesa line

 NZDJPY Stoch Cross CLOSE 29JUL08            

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