Cycles and Time in Trading- The JRM Trading Model - FX

I'm shorting some here with this 30min cycle

Shorted some swing with the top of the 4 Hour


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Taking more profits here on the 1min .30min cycle is still favorable for shorts guys bidding below the market to take profits on more.

PESO UPDATE






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Guys I sold more euro here short. I will be a seller unless we trade back above 1.12 i just really like the way the Weekly chart looks for the start of maybe a larger long-term move so i sold another 1mm i was not short enough Ill sell more on any bounce.

I started today micro timeframe or day trade, shorting GBPJPY here a little on the 5min based on the 30 min cycle being in a down cycle however looks like that may reverse somewhat here so maybe we get a push back to 127.40 area. I'm going to be patient I'll update here when I put some more size on.

I'm covering some here taking profits - getting lower within the cycle and somewhat oversold but we always take profits on lower lows. If we break 126.88 we could have a nice trade here and another flush potentially.

Covered what we sold yesterday nice swing timeframe, price has had a nice move back toward the bottom of the 4 hour cycle so covering some. We like and remain core short GBPJPY and this remains one of our favorite pairs to day trade as well and we are looking for shorts there this morning also.

I just went flat on my day trade short GBJPY on the 30min cycle. I'll wait now for a bounce over the next hour or 2 for a entry back on the short side. Here's my trade on the 5min...I am still core short this Pair for the INTERMEDIATE-TERM and LONG-TERM, so if it goes lower from here thats fine.

USDCAD Update

Dollar Cad could not brake above its long-term resistance at 1.33 and as we head into todays BOC rate statement USDCAD has fallen back into the intermediate-term risk range of 1.28 to 1.33, price has been in this trading range since May. Only a weekly closing outside of either of these levels will confirm to us a new longer-term directional trend. Until then this pair is stuck in a range trade and trade it as such staying wide and trading the wings of the hourly and 4 hour cycles. We are currently flat here with no position but should the market rally back up on the 4 hour cycle we will short into the same resistance area of 1.325/1.33 and or should USDCAD fall further into the lows from September infront of 1.2850 we will then look to go long.




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LIRA UPDATE


According to Bloomberg:
Turkeys lira strengthened the most in a month after comments from an adviser to President Recep Tayyip Erodogan fueled bets the central bank will keep rates unchanged in October.
The currency gained 0.7 percent to the dollar as of 12:16 p.m. in Istanbul, the most among 24 emerging markets tracked by Bloomberg after Russias ruble. The central bank may pause a cycle of interest-rate cuts that started in March when it meets on Thursday if warranted by economic conditions, Yigit Bulut, a senior aide to the president, said in an interview Tuesday.
The monetary authority has lowered its overnight lending rate by 250 basis points since March amid pressure from politicians to stimulate Turkeys slowing economy. Thats trimmed the yield on the currency, which has weakened the most among emerging markets over the past month. The median forecast of economists surveyed by Bloomberg is for another 25 basis-point reduction.


We like this long-term trend in USDTRY and we have been core long taking profits most recently into the 3.1 level. We think there is a high probability this trend will continue longterm however it was prudent to book gains into this prior resistance area and the cycles were high on the 4 hour as well as on the weekly level.



From here we are playing the 4 hour cycles and this most recent dip on the back of the headlines mentioned above we are using this pullback to add some back to our core long position. The 4 hour is cycle is low and we are thus far holding looking for a Higher Low infront of the lower bands. We will buy more should we see further weakness and we will do this in 3-5 entries working our average cost near the market. Stay tuned for more on this USDTRY position and for those that want to trade FX with us and join our team you can join our free trading chat room powered by Slack at the linkhere.

GBPJPY today

Another profitable day, heres example from one trader what you can do on a smaller account following along with me on GBPJPY today...



You guys know how powerful 1% a day is when you get consistent like this? if you get good at this model and process 1% a day on your account after a little over just 3 months you will have doubled your account. This is the power of compounding and being consistent. After 120 trading days (roughly 6 months) you will have tripled your account. I want to build a team of traders that want to do this. Reach out to me on direct message or email us at [email protected]. If you want to run at this with me, these are the types of results we are having in the Active Trader Real-time Alerts Room and the new FULL ACCESS Program and trading TEAM is going to take this to a whole new level.

GBPJPY

Back short

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Tonight's Market Update







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Here's some position updates we posted for our trader in our Active Trader Chat Room where we post Real-time Trade Alerts and Ideas all day on multiple assets classes across multiple time horizons. You can sign up for a trail of that room by sending us an email at [email protected] or sign up for the service here - http://www.jenkinsrm.com/atm/

Here's some of the updates on the FX side....

I doubled my long in USDTRY here this am. Let’s see if we made higher lows. Policy makers left all three of the nations main interest.


Just covered taking profits on what I shorted yesterday on GBPJPY back at the bottom of the cycle.

Here's an update on our Long-term Core Short Position on EURUSD.

Take more profits on EURUSD. We take profits on new Lower Lows, the amateur chases new lows. We are low within the 4H cycle and its turning up plus we have a very low reading on the RSI. So it’s prudent to book gains here. Still keeping a core LONG-TERM short.


Covering some here from what we sold yesterday. Take some gains low within the cycle. And we are now in the money on our avg core short longterm.

Another nice morning short EURUSD...


If you want to start seeing results like this ....


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Long-term EURUSD Update

Last week we wrote and did several videos about the call that we are making that this may be the start another long-term leg down in the Euro vs the Dollar. We referenced how we were bearish the INTERMEDIATE-TERM charts but then how we also went ahead and hit more size down even though the market was oversold on the hourly and 4 hour charts, because we wanted to have more size on for LONG-TERM higher timeframes specifically the Weekly and Monthly. So far this has been a great call and we were able to realize some nice gains today and yesterday on this short play.
Heres a look at some of the posts from earlier in the week in our Active Trader Room where we issue Real-time Alerts and Trade Ideas
This was from Monday For the Euro Im a seller but wait for the 4 hour cycle to come up a little higher before adding to any core shorts on EURUSD.


This was also posted Monday on mobile while Jason was traveling Shorted some swing, with the top of the 4 Hour


This from Tuesday Guys I sold more euro here short. I will be a seller unless we trade back above 1.12 i just really like the way the Weekly chart looks for the start of maybe a larger long-term move so i sold another 1mm i wasnt short enoughIll sell more on any bounce.


And here were a few conversations in our trading room from yesterday






And this was from yesterday as well and also signaled in our Live Trade the Open session.




Overall a very nice week short EURUSD, booked $10,330 in gains.
We remain core short for the long-term and we will continue to due video updates on this pair as it looks like again this may be the start of another long-term move down in the euro with a downside target of par into next year.
Stay Tuned for more on the Euro and join our FREE chat room as we continue to build a network of professional and independent traders.

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GBPJPY VIDEO UPDATE




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Another great call on GBPJPY! In the video I said short swing and daytrade.Im booking some gains here daytrade.



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