High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

I got burned trading Non-Farm Payroll today.....

3 More small Trades (Scalping....)

USD/JPY Update:

The Weekly Target on this pair has been reached in less than 2 days... Now, the market has 2 choices to make:

1) If the Bullish Momentum stays, I expect Price Action to go a lot Higher ( Near 110.500ish )

2) It's too risky right now to find Long Entries, I would like to see a Bearish Reversal inside the Upper Channel ( Red/Crimson Dotted Lines )




I had 2 small trades:




Random Brainstorming (LOL)

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Take care guys!

Jay

I am Short USD/CAD right now, but I had to find my inspiration from Crude Oil.....

Based on my prediction, I would like to see Crude Oil tests 54.00 by the end of this month or early next month.

I really don't know why, but it's just a simple analysis based on Market Structure and Order Flow.




My short Entry on UCAD is not ideal, but I got in too late...If I am still on this trade tomorrow, I might hold for 2 more weeks or less.

A quick Update on USD/JPY through DailyFX




P.S It looks like everybody is calling for UJ to go Lower near 90-95, but the Market is not ready yet.....
I would like to see some structure failure first before I can convince myself that the Bullish run is over....

Keep in mind, we have FOMC Meeting Minutes next Wednesday (May 18th ), and I think that it only makes
sense for some institutions traders to start positioning themselves.....

There's plenty of time to make money on this pair....It's better to wait and pull the trigger when it counts.

Keep your eyes open on ALL GBP Pairs.....



I won't have time to do analysis on any of them, but you owe it to yourself to do so if you are going
to trade them or some of them....

The Market Condition on GBP is currently BEARISH right now, and I do have a small Bearish Trade on GBP/USD
but the thing is both currencies are weak....HAHA!

Ideal pairs to trade for quick profits could be GBP/CAD, GBP/NZD, and GBP/JPY

I look forward to add more positions during the London Session tomorrow.....

Weekly Economic Risk Events Update:

A quick Market Update:

The upcoming G7 meeting has been a focal point for traders, as world leaders cannot come to a consensus
on Currency Policy. Nevertheless, Japanese leaders are expected to take a bit of heat from their G7 counterparts,
even if it is only lip service.

Japan is hoping leaders will come to an agreement on the need to boost fiscal spending, which has been resisted
by Germany. Such an agreement would likely provide Japanese Premier Shinzo Abe a justification to delay raising
the countrys sales tax and give him leverage to deploy more fiscal stimulus.

An agreement to increase government spending also could put some downward pressure on the Euro. Traders have
been a bit more optimistic that retail sales can strengthen, which could increase the likelihood of a rate hike from the Fed.

Wednesdays FOMC minutes will give traders a bit more insight as to the Committees mindset and governors leanings.

This Thursday is a somewhat loaded day for Economic data, with Philly Fed and Leading Indicators accompanying the
usual Initial and Continuing Claims data.

Source : A friend

Not much going on Higher TF, but the Overall Market Sentiment is still Bullish to say the least....

I am hoping that this pair will finally pick the right direction after the FOMC News Tomorrow.

I had a few scalp trades this morning on this pair, and I did so so.....

Not too late to do a quick Market Update from a great trader here.

Few scalping trades during the London Session, but I have failed to take full advantage of the Market....






Note: I had a few setups on GBP/JPY, but I was a bit hesitant to go all in, but the market didn't care....

Gosh!! 280+pips move in one day!

If GBP stays WEAK throughout the London Session, I will be looking to short the heck out of this pair....

The Bearish Gartley gives me a heads-up on what to expect from other traders out there, but I still need
more Bearish Confirmation to hold any short trades for 3-4 days....

Anyway, I would love to see a drop near 155.100ish by next week or so.....

Let's make some pips y'all

It looks like the Drop during the Asian Session was just a test to see if we were ready.

Well! Well!! Well!! I saw it coming miles away, and I was able to grab a quick +86 pips through my phone.

No Explanation needed after countless attempts to the Downside, and I strongly believe that so many traders
are very bullish right now about the Brexit Event...Honestly, I really don't care about the event, but I will be more
focused on Market Volatility throughout the month of June...

By the way, I really like what I am seeing on the Daily Chart....Will do a quick analysis on it very soon...

For now, let's enjoy Pure Price Action and my system in Action:



I was hosting a small party, and I had to close this trade through my phone to reduce risk for not being in front of
my computer, but the danm thing went 70+pips after....

I hate it when the market does that to me. LOL!

Weekly Market Update from a tremendous trader....





Note: I will do my best to get more involved this week, because the beginning of each month tends to create crazy Volatility
and steady TREND throughout the Market....

Let's get some pips y'all!

Quick Scalp on GBP/JPY

Britons evenly split ahead of EU referendum: YouGov online poll


British voters are evenly split between "Remain" and "Leave" ahead of a June 23 referendum on whether
to remain in the European Union, according to the latest online opinion poll from YouGov for The Times newspaper.


The poll of 1,735 people, conducted on May 30-31, found that both camps were level on 41 percent, with
13 percent undecided and 4 percent not intending to vote.


The results were identical to YouGov's previous survey for The Times, which was conducted on May 23-24.

(Reporting by Estelle Shirbon)

The Latest news on JPY:

Japan's Abe Announces Sales Tax Hike Will Be Delayed by 2.5 Years

Japanese Prime Minister Shinzo Abe told lawmakers in Tokyo he would delay an increase in Japan’s sales
tax until October 2019.

The move may help support consumer spending but complicates the government’s efforts to tame the world’s
largest debt burden.

The tax decision marks an about-face for Abe, who had previously said only an economic shock on the scale
of the Lehman Brothers collapse or a major earthquake would prompt a delay.

The tax hike to 10 percent from 8 percent, previously set to take effect April 2017, will be delayed for two and
a half years, Abe said. While putting off the increase in the unpopular tax may improve Abe’s prospects ...

Note: 2-3 weeks ago, I predicted how the USD/JPY was going to drop within 2 years, and I had no idea that this
guy was going to be the key to trigger the move...

Guys, Keep your eyes open on them Yen crosses because there are a lot of money to be made. I am talking about
thousands upon thousands of pips....

To make things worst if UK leaves the EU, GBP drop would be a disaster....Based on Fibs ratios, we can easily see a
drop between 4,000 and 8,000 pips within a few years from now....

Hello OCTAVEJAY509,
I must confess that you are touching a lot of lives positively but you may not know it. i saw your thread through my brother in-law in October/November 2015 and it was the best thing that has happened to me since i started trading forex.
I'm not a newbee in FX, as a matter of fact i brought and made popular Forex trading to the Federal Capital City (Abuja) Nigeria since 2006 and i was doing very well. But along the line, analysis paralysis started setting in and suddenly, i started loosing, to the extent of blowing accounts.
Deep down within me, i knew something was wrong with the way i was trading and something has to be done urgently, so i decided to UNLEARN all that i have known and RELEARN new things and that was when i got to see your thread.
Your first 3 pages did the magic, i understood your intention immediately and i started doing few demo-trading, i didn't want to go back to live trading until i'm disciplined enough to follow these instructions, so i gave myself another 6 months from January 2016.
I started live trading again by June-1-2016, i have placed and closed 12 trades so far and all are positives trades...........no single loss just by following your first 3 pages.
I would want to say a big thank you to you for your generosities. i'm sure you know what happens to cheerful givers, THEY NEVER LACK.

I intend to attach my account histories as soon as possible................
Thanks, Debvic.