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EURJPY 5 Minute Chart is Still One of the BEST Daytrading Forex Charts

The EURJPY 5 minute chart has a long running tradeplan with the Trend Jumper.  It is one of the resident charts traded live in the Trend Jumper traderoom every session.  We’ve seen it perform consistently for years now.  Today’s session was a typical session, hitting its ‘power of quitting’ profit goals in just one trade.  The tradeplan also offers the option to add to our position one time if conditions allow.  As I write this post, the primary trade has hit both its targets and is still trailing.  There was also an addon trade which Just hit its + 15 pip target level even as I am writing this post.  It’s still going so there’s a good chance it will hit its 2nd target.  Regardless, the session will end successfully.  It’s just a matter of to what degree.

One of the things we learn with the Trend Jumper training is how to deal with the unique dynamics that time based charts present vs more dynamic charts like tick, range and renko.  Those charts are based on actual order flow.  Time based charts don’t care about order flow.  They are based purely on time.  So if you can imagine, a lot can happen in 5 minutes, or, very little.  This can produce some very small trade setups sometimes.  The addon trade today gave us targets that were too small.  As per the rules and training of this tradeplan, when that happens, we go for larger targets.  I have drawn them on the chart below, showing you the 15 and 25 pip (+ 17 and + 27 including 2 pips of spread) target objectives we shoot for, in these circumstances.

Check out Today’s EURJPY trade using our 5 Min Chart Tradeplan.  It’s hitting it’s second + 25 pip Target on its optional ‘add-on’ trade.  Meanwhile, the primary trade has hit its two targets for + 34 pips and continues to trail the purple line for even greater profits. Looks like it will end up being a triple digit pip gain today for the EURJPY.

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Check out the same EURJPY trade on an MT4 chart.  You can see how it worked perfectly.  Trend Jumper works perfectly on MT4, Tradestation and Ninja Trader

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