No resistance on UJ for quite some time, enjoy.
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QuoteDislikedI will wait for a break above the 87.60 area, a pullback and enter near the demand line or on very strong bullish PA. Just my 2 cents.
QuoteDislikedHi deepsouth
I appreciate your inputs.
Pls. do drop by often to advise.
What MAs you?
I will try to pick up weekly chart analysis like yours.
You are very good.
tpat
DislikedClosed half on UJ and moved stop to BE, will let the trade develop now. Looking for higher lows to move the stop along with.
Hi Tradepat, thanks for the kind words, but no not that good, I am just another trader trying to get better.
The MA's I am using are the 20 and 40 SMA's. Nothing magical, I use them to help me stay on the right side of the trend. The above trade is the only CT trade I will take. Take care!
DeepIgnored
DislikedHi tradpat, sorry to hear about the losses, when did you go long usd/jpy? was it the daily pin on 22nd of july? i would have been atleast BE on this one.
The usd/chf, what was your entry trigger? i can say that i took a long on a 4hr pinbar, got stopped
I would consider them both countertrend trades, what i normally do is half my normal position size if i was going counter trend.Ignored
DislikedAlso you are trading towards the moving average which on both pointed downwards. a safer option would be to wait for it to ride on top of the ma's and wait for pull backs to go long. Im saying this but i also went long usd/chf. my best advise is to keep the risk smaller on these trades thats all.
keep working at it, i have also had a frustrating two weeks, i was looking for longs on the gbp/jpy and the nzd/usd last night after 2 daily pin bars, my orders were not hit and they are working well with out me.Ignored
DislikedHighlander,
Sorry u missed the gbp/jpy. It was a great call. Looks like a break out pull back on the daily now. Should have taken it myself.
Out of aud/usd at 0.9100 as targeted.
Tradpat,
Avoid CT trades. Higher probability they will fail no matter how good the setup looks. If u do take them move to BE quickly. Gave back 55 on my usd/jpy long. No loss, just my time.Ignored
DislikedThanks for writing, gromit.
- Nice to hear you profited A-U.
- Noted your comment on CT and move to BE.
- For GJ, I see highly potential uptrend.
On Daily, it is going to break RL. Hope so.
On H4, it may yo-yo as shown by the arrows in stoch before going up.
Let see what happens?
highlander, I am watching it closely (hopefully no distraction from work tomorrow), you? gromit, you coming?
tpatIgnored