{quote} Hey Mate, I've attached the Indicator to this reply. I found it here on FF, so all credit goes to the creator Best, Jay {file}
{quote} Didn't quite reach the target last week, again the market was generous (i.e. giving us time & better entry levels) Not planning to give up on that trade, on the contrary I'll be adding more if I have the opportunity. P.S. a high above 0.7897 is a conservative thing to say, this can easily reach 0.80
Looking for more upside ... I'm not done yet with this one
{quote} AgreedBeen stacking shorts all the way from 173. Planning to cover it all around the 50% fib @ 156.50 This has been one of my most profitable trades 'ever', and I do believe that it has even more room to go to the downside, but I'll take my share out & maybe load up later when I start seeing the probabilities going higher again
Glad to have shared this while there was still some profitpotential in it. Congrats to whoever was riding the same train, specialy u Billyon.Here's the magestic trade in b4/after shots
Each move up on USDJPY is a shorting opportunity for sub 111 levels. Make sure to take extra care with money management on that one. According to my calculations USDJPY can go all the way up to 116 without altering the probability of sub 111 before the end of Feb. I'm already short, & will be adding more in case of a move up
{quote} This officialy became the most profitable trade of my 6 year trading journey!Couldn't be any happier
Will be booking the profits soon This was one hell of a ride
- #152
- Edited 9:19pm Feb 24, 2016 9:07pm | Edited 9:19pm
- Joined May 2013 | Status: Digging deeper | 653 Posts
Each move up on USDJPY is a shorting opportunity for sub 111 levels. Make sure to take extra care with money management on that one. According to my calculations USDJPY can go all the way up to 116 without altering the probability of sub 111 before the end of Feb. I'm already short, & will be adding more in case of a move up
Just want to say that I'm long USD.JPY now from 111.70. Not totally convinced that the bottom is in but the recent
Edit: I trade the futures (inverse of UJ) so that's why I said "upmove"!
You reap what you sow.
{quote} This officialy became the most profitable trade of my 6 year trading journey!Couldn't be any happier
A thing of beauty
Solutions ONLY!!!
{quote} Hey Jay, congratulations on your yen trades. I missed those unfortunately, but have been doing very well with gold since last November
Glad to see you around here & to know you're doing well on your gold trades
Also congrats on the yen trade, should be in nice profits so far.
Personally, I'm maintaining my bearish bias, and won't be closing my trades till we see sub-111 levels.
I know that we've already witnessed a 1,000+ pip move in less than a month & the pair seems to be quite oversold at the moment, but I can still see a leg lower in the very near future.
To be honest, I would prefer a move up to 115.50-116 levels before the leg lower so that I can add more to my positions.
Let's see how this will play out
Late to the party but I'll still see if any punch is left. Loaded on 4hr and daily zones under daily MA. Some zones already cleared before I joined in so I will add the ones I missed as well since price is back above them. sell stops. This is what I'm seeing. Strong yen /uncleared zones in direction of strength. {image} {image} {image}
sell stops should be the best way to trade this for tomorrowIf we're gonna have the drop, it's going to be big and fast & in case it gets delayed till next week, then you would take better entries at higher levels
Hi if I am correct FX-Jay is more trend-follower now, BillYon countertrend trader waiting for "magnets" level to be closed. FX-Jay you were countertrend trader last year, if you changed the approach have I to be worried?
I'm recently tracking trends, adding to positions & letting them run in the trend's direction.
I believe that is the best way to make money when you don't have a lot of time to continuously monitor the market and day trade.
Most important thing to keep in mind though is to not over leverage.
Whenever I have time to day trade, I would definitely take high probability counter-trend trades, but with accurate/ relatively tight SLs