EUR/JPY

Working out well.You can see after the call we had a touch of the stop loss price, but we didn't get a close under it. So the buy is still active.


You'll also see on the chart below, that EJ and EU are trading tick for tick with one another. They are not only creating the same pattern on the 1m, but they are also engulfing the same candle. #PowerOfCorrelation


I am not sure how one deems that one is gambling and not trading, when the definition of gambling simply refers to taking"any risk"involving something which you don't know the outcome of. As far as what the 1m chart will show you, the reality is the 1m creates EVERYTHING you see on the higher tf's. My goal as a trader is to aim for accuracy, no matter the size of the account.
One tends to feel comfortable with minimal risk, but the reality is being exposed to the market can lead to your account margin calling. So as a 1m trader, my goal is to wager on a set of formations, and take a set amount of pips. The entry I gave on 1m based on the formation which I saw, was a good one, as the have closed it profit, without risking many pips to the stop loss side of the trade.
Many people believe that 1m trade is only noise, but with no 1m you can't have a weekly. For those of us who trade extension and reversals 1m is everything you need. Those who trade supply and demand can spend days or weeks in red, only to end up closing in profit, but the time lost is what is most important.



Here is the very trade, which I recommended.


I closed the trade, as since EJ is following EU tick for tick, one should respect the possible whip lash which high impact news can bring in the up coming 26 mins.

You can see the spike up 15 mins prior to the news. Now EU has finally touched it's main pivot, which EJ had touched about an hour ago. On that EU recommendation it stands at +20 and we never closed under the sl price since entry, which was 10 pips from entry. 2:1 R:R at the current moment. To bad, I decided to close.

The red candle which is high lighted with the blue box, was the candle which faked under my stop loss line. Look at what happened after that candle (the one which would of triggered the stop loss if I didn't accept to close the trade upon close) was engulfed to the buy side. It resulted in over 30+ profit, with less then 3 pips drawdown. That is a 10:1 R:R on the 1m. Those are trades, and formations which you see many times on the 1m, which you simply need to wait for. Imagine making 30 pips or even hitting a daily pivot, before your ever in red more then 3 pips... I think anyone would sign up for that. #AccuracyIsTheKey

With a ot of of study one becomes approved thereafter you would get it right in other to act accordingly. 139.44 a place to be soon enough.

Hello all,
138.384 - Long

Curious to see what happens over the next 2 hours.

hello guys. Here's a trade I got filled on yesterday, on the break of the prior day's lows. Hit 1st TP but reversed up. However, it may be now forming a double top (seen on the hourly, 4H timeframes) for continuation down. SL on trade is now above yesterday's highs. I have taken a small additional short to play the double top scenario, and will add more shorts if it breaks the lows of the current 4H bar, which in my charts closes in a bit less than an hour, but in others' chart packages it may of course differ.

Here's the potential double top on the hourly charts. Just below the lows of the doji's lows and the middle of yesterday's big bearish candle (orange).

The ascending trendline is the one from the lows of 14April and 26May. Yes, it is an ascending trendline and we are still above it but I have reasons to expect that it will be broken soon. 1st - we only had 2 touches so far, so not a very proven TL. 2nd, yesterday's and today's bounce actually did not touch the trendline. When the price bounces off a steep trendline before touching it and forms a wedge or a small ascending flag with minor ascending lows, this to me is an indication that the trendine is close to be broken. Let's see.

It's already a signal to Sell. Here's my trade...

Happy Pipping!

I have taken profit for 1/2 of trade. Rest is now at B/E or in slight profit at the mini double-top. I will wait for the daily candle to close but if it closes looking something like now, I will place a buy-stop order above today's highs. That could be a good reversal up if it materialises.

Eur/Jpy has well recovered the gap and bounce back almost 300 pips, the immediate resistance can be found at 138.20.

Due to uncertainty of Euro, Yen continues to play out its safe haven roll, Eur/Jpy remains bearish, 133.76 (28 June lows) is back in the picture.

Short position opened from 136.55 on M15 200ema resistance, sl 136.75 and tps 136, 134 and 133.

when we look at how 136.00 as played the resistance.
There is a clear indication that a new high might arise.
137.52 is the nearest bus stop upward. IMHO
Lets watch it play.

Even if the Triangle formation restrict immediate EURJPY moves, expected weekend developments, mostly favoring EUR, could fuel the pair towards 137 region soon.

Eur/Jpy collapses below 134.00 level after Greek referendum, on the upside prices are pulling up, but it is unlikely that much buying interest, upside bounce should remain limited.

it's going to 133.41...

just got in at 134.31 SL:134.61 TP:133.40

stopped out

short @134.827

Got the feeling that it'll hit ~134.896 today or tomorrow, but still have some uncertaintieces whether to open or not...