DislikedHi 100 pips and thanks for your thread. I notice you started the thread with lots of fundamental reading while presenting a technical method and although I see nothing wrong with the combined approach I wonder if you are gaining confidence in the technical side of the strategy now?
I share your reservations about Yen pairs and agree the long term weakness of the Yen sentiment, but maybe they are due a correction of at least 38% which would take us to about 115 in the case of Eur/Jpy?Ignored
I still follow market fundamentals very closely but it is often times very hard to trade using fundamentals as the "timing" part is almost impossible!
So I have decided to stick to this technical system and let the SL or TP targets get met before closing out the trades. It seems to actually work better leaving the system alone and results have been above average from what I can tell.
Whenever something interesting is brought to my attention I will try and share it with this thread but as of right now I am trying to help the select few that are following this strategy to understand how to trade without any problems as far as entry points, SL and TP targets, as well as the more profitable trending pairs that work with this system.
From what I can tell there are a few here who have started to understand and trade this system and will experience excellent results this year if they stick to it!
By the way, I have 117.60 and 115.20 as significant support for EUR/JPY from a weekly perspective. 115 would be nice for my current short positions!