Long-term and short-term analysis of EUR/JPY. Please explain what you feel EUR/JPY will do in the not so distant future..
I think that about covers it.
- Chikou Span(the laggin Light Blue line) is showing support and resistance at the yellow horizontal lines which support Kumo Resistance of 159.13, however, I want to see the other support I've indicated(155.17) broken(which I forsee happening..and we may expect to see 151.39 if 155.17 then 154.00 is broken.Ignored
DislikedOf course it's a bit liberal, I'm Canadian But 147 by the end of October would be pleasant enough .....
But yes it is extreme, so it's basically one step at a time, there's a number of key support points to get through, particularly those set by daily lows over thelast month, and the Feb/March low..Ignored
EDIT: 2 pips locked in, will let it ride until it says "I'm going down, Kevin", currently up 16
EDIT #2: Here's my chart a couple hours later... I usually move my S/L along with the peaks and valleys of the chikou span(light blue line), and add 4 pips or so just for safety cushion(I like to breathe). I usually get a bunch of small winners, but when I bank, it's pretty good. Right now I'm up 28 pips, with 16 locked in.
LAST EDIT: TRADE stopped out at 156.00 for 25 pips
DislikedThis was my today's short trade on e/j after retracement.
short at 157.20, out on half at 156.80, remainder closed at 156.30Ignored
Why 157.20.... ? Due to the reversal bar (Pin) and doji?
UPDATE: I'm Good....saw your chart ( 4hr ) more closely..... shorted the 61.8 with a trendline test, correct?Ignored
DislikedHad I used this analysis.....I'd have not shorted til 156.48.
Not saying one is better than other....just maybe one is more prone to a small scalp????????
Raczek...Thanx....No doji on 4hr, I was referring to my 15 min chart.....Though I am glad I could see your logic in your trade by myself. THX again!
Did you by chance have a limit order placed there, or was it a market order you took?
I will wait for a bounce off either the Kijun-sen(red) or Tenkan-sen(blue).
This opportunity is void if Kijun-sen is broken.