I think you are right about 202. It's the next support on weekly chart.
We shall see. I am trading what I see on the chart. All I can do is manage the risk and hope for the best. Good trading to all.
I got short today at 311. I have been stalking this bear flag on the weekly chart for, well ... weeks haha. It completed today and I figure...
Nice bear flag on the weekly chart which seems to have completed to the downside. I'm looking for a print below 130 to get short. I can see this...
Looking at usd/jpy on a monthly chart, the most likely outcome is the 102 area within weeks or months. I prefer the gbp/jpy as a short and...
BTW, thanks to all who replied. I think this is such an important area of trading, that unfortunately is not discussed enough on ET.
This is more or less what I am doing. I only add to a trade when the current position has enough profit locked in with a stop loss to...
I have read often that the best system for adding to a winning position is to pyramid from the base up. For example, buy 10 lots, then (if trade...
I feel that a fed cut of 0.25 is already priced into the dollar. If the fed don't cut then no doubt the dollar will take off.
I'm not knocking your approach jd7419; however; I see no advantage in your approach vs not putting on the initial 400 shares, waiting till it...
I read that the majority of losing retail traders are trading in the shorter time frames (1hr, 5min etc)....
As I recall, in Market Wizards it was shown that the most successful traders use fundamentals exclusively, technicals exclusively or they combine...
I'm not sure if I understand your comment about trend lines. I think that you are suggesting that like moving averages, they are arbitrary lines...
Just curious, what made you trade usd/jpy from the long side?
Or how about wait for a close outside of a chart pattern and then use price action to get into the trade instead of indicators.
I think it depends on your trading style. IMO Forex is fine if you are swing trading off of daily and weekly charts. If your initial stops are...
Well done getting in so early, I didn't spot the move until the failed test of the gap down. I don't see any obvious target so I'm going to...
AUD/USD looking poised for a big drop on daily and 4hr charts, have loaded up on this one. USD/JPY will be the catalyst.
You seem to be fighting the trend (trend on the end of day chart that is) ... good luck.
Looking at DJ daily chart, the technical picture is looking more and more bearish. I attribute this more to the current phase of jpy carry trade...
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