- #21,782
- Dec 3, 2010 4:57pm Dec 3, 2010 4:57pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
TP Hit +159 pips hope you got the move of that very simple trading idea.
Personally I expect further bearish momentum perhaps to 81 with a bump at 81.65 but only after a little retracement.. therefore I think I won't be opening any positions monday.
I didn't take part in your short, but if you like simple trading ideas (and often simple is best), beware of this channel forming on the daily before considering further shorts
Doing what you like is Freedom. Liking what you do is Happiness.
- #21,785
- Dec 4, 2010 4:40am Dec 4, 2010 4:40am
TP Hit +159 pips hope you got the move of that very simple trading idea.
Personally I expect further bearish momentum perhaps to 81 with a bump at 81.65 but only after a little retracement.. therefore I think I won't be opening any positions monday.
I wont be opening any position as well, i am still slightly bearish because of the Support/TL break on both USDX and UJ but AUD and NZD is forming a shoulder and hitting resistance.
MFI/RSI also shows that USDX and UJ is both at oversold with price action showing tremendous bear, every bear theres a bull.
It is not wise to open any position on monday until market settles.
Good trading all.
- #21,787
- Dec 5, 2010 8:14am Dec 5, 2010 8:14am
- Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Afternoon guys!
Since trading USD/JPY I have been looking at popular technical analysis used in Asia and especially on the Tokyo trading desks.
Two indicators came up time and time again which are Heikin-Ashi & Ichimoku. when used in conjunction with each other they offer great trend following strategies.
Below I have attached the daily chart with both indicators being used and some labels explaining a little bit of the idea.
The cloud is normally a solid colour, but for some reason when I dropped it into Photoshop it just left the outline, so the dodgy purple spray can is where I have roughly filled in the cloud.
Ichimoku is a very widely used indicator in Japan and across the Yen pairs so offers strong trend following abilities.
The Ichimoku is best used on timeframes of H1 and above (typically the daily chart), and can be used across the main pairs as a trend following indicator.
Is anyone else here using Ichimoku in conjunction with their trading strategy?
It would be good to develop a longer term trading plan using these ideas.
Daily
Since trading USD/JPY I have been looking at popular technical analysis used in Asia and especially on the Tokyo trading desks.
Two indicators came up time and time again which are Heikin-Ashi & Ichimoku. when used in conjunction with each other they offer great trend following strategies.
Below I have attached the daily chart with both indicators being used and some labels explaining a little bit of the idea.
The cloud is normally a solid colour, but for some reason when I dropped it into Photoshop it just left the outline, so the dodgy purple spray can is where I have roughly filled in the cloud.
Ichimoku is a very widely used indicator in Japan and across the Yen pairs so offers strong trend following abilities.
The Ichimoku is best used on timeframes of H1 and above (typically the daily chart), and can be used across the main pairs as a trend following indicator.
Is anyone else here using Ichimoku in conjunction with their trading strategy?
It would be good to develop a longer term trading plan using these ideas.
Daily
- #21,788
- Dec 5, 2010 2:08pm Dec 5, 2010 2:08pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #21,792
- Dec 6, 2010 8:43am Dec 6, 2010 8:43am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #21,794
- Edited 3:15pm Dec 6, 2010 2:28pm | Edited 3:15pm
For such important message and excellent comment you should put all text in font size at least 20 so everyone get your message crystal clear...text in bold is not strong enough...
accidentally turned on bold, just warning him on it.
whos losing his money anyway. Just helping out. Its not like i need to post here anyways. Trading has always been a one man game
ps : i do regard my message as important to most of you here though.
happy tradings. cheers.
- #21,798
- Dec 6, 2010 9:47pm Dec 6, 2010 9:47pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
+60 pips on the previously posted setup #21794
I'm out of my long term trades on this pair for the time being....a break of the 61.8 fib and we might have to assume that the bottom is going to get tested. Risk aversion.....weak USD....end of year etc etc.....not looking good for this pair at the moment.
Doing what you like is Freedom. Liking what you do is Happiness.
Nice
I'm out of my long term trades on this pair for the time being....a break of the 61.8 fib and we might have to assume that the bottom is going to get tested. Risk aversion.....weak USD....end of year etc etc.....not looking good for this pair at the moment.