Short

Updated

Eur / Jpy - Don't buy this - SHORT

There are so many political and economical reasons to continue to short this pair, it's been very profitable so far and it will continue to do so. We've passed the point of control @130 and the next two fib levels are 50% 123 and 61.8% @116 I've been short on this since the middle of last week and another hourly pullback will bring me back into add to my short positions.

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This long-term trend line is a bit of a giveaway!

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If we get a pull-back to this zone, i'll be adding to my shorts and you can join in if you missed the first move down.

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As expected, the pair was rejected at previous support, now resistance and we're moving further south towards our targets.

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This trade that keeps on giving.... well actually, all my trades are doing that right now, but the analysis tells me to trade what I see. Having the patience and confidence to stick with it is what makes the difference.

I hope you're enjoying this trade, big profits still to come this week on this pair.

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Another seriously profitable trade, this will fall further, but it's essential you wait for a pullback to get in, or a smaller margin with a wide stop to allow it to breath. I'm still targetting 1.24 - 1.22 nice trade from selling at 131

Trade closed: target reached

Taken full profits 125

Trade active

Selling from the red zone

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Dropped faster than expected, straight into a nice profit, 125 for an intra is your target. Longer term, I'm looking down below at 122, but will review my analysis first

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The Yen is pretty strong right now, it's more significant as a safe haven currency than Gold or the Swiss Franc, their government won't manipulate it if it appreciates, they need the world to know they'll happily accept huge inflexes of currency in difficult times, especially with so much debt. So I'm happy to keep selling the Euro against Yen at places of resistance, structure leaves clues, anything below 15m time frame is pointless and only use 1h and above for support and resistance.

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We've been inside this descending channel for a week now, the Euro is fighting back today, look at those wicks, but there is consistent selling pressure at this level.

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Once the Euro loses the battle to fight back, this is where I think we're going. Looka the volume indicators to the left, these are the most significant points of support, we're just above 124.05, 50% fib which will easily be broken.

Then we have 122.45 a major area of support and between 50 - 61.8% fib levels and on the junction of the long-term rising weekly trend line, if we get down there, these are my targets, if we break that trend line, well then I hope we're all in lots of Euro pairs because we'll be in free fall by then.

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If you've not entered this trade, now is the time, stops above the channel edges and in line with previous structure.

Targets:
125.1
124.1
122.5

Trade active

My trade was active 6 days ago, but I've now added to my position short @127

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Stops hit, where did that come from?

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We have confirmed Euro weakness now and if we can make a second move down, we're going back down to test 125, and then onto 122. We need to break down past 126.5 first.

Trade active

Sell order hit 05:21 @126.9 - so into a nice profit now, I've been out most of the this morning and not checking my trades, which is often a blessing in disguise.

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Would you buy that?

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The Euro has tracked higher overnight with resistance up @127.7 previous resistance from the 25th and the moving average and we've broken out of the edge of the channel, we hit this zone at 02:00 and tracked back to the channel edge and today's open is acting as support, we'll need to see this break to continue to be a Bear today and to stay under the moving average to exhaust the Bulls. They want to push to move higher to break @128, our war zone is set for today. Are you ready for the hunt?

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Bull market today, we're going much higher after the EU PMI's came out as expected, especially with the Yen the weakest currency today.

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Not looking good, as soon as I found out about the reduction of JPY bonds of over 20bn, I knew this would be a brutal day on many pairs, especially Yen pairs.

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Look at the Blue line (Euro) dropping faster than other currencies, but the Pound is dropping as well, Euro fall and todays Pound strength is why this trade is working, so far!

Trade closed: stop reached

Today will be one of those days when trades are trying to find their levels, break levels and support new trends, you can see this in the aggressive moves happening very quickly.

It's incredibly important you stay patient for an entry, don't enter to just be in the market and if you've got a trade on a long-term, swing trade, be prepared to see larger sideways movements and therefore don't sit and watch them, don't enter with anything less than a 15m timeframe and preferable a 1h.

The Euro is strongish, but the Yen is very weak, I've taken a loss on this pair overnight, my largest this year, but made 77% profit more on the pair than loss. Very bullish this pair at the moment.

Trade active

We have divergence on this pair..... SHORT, stops above the structure.

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Here is the level you should be looking to sell after the 2-3 try rule, notice how many times the bulls try to break the resistance level.

If you don't know this, read this

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Very interesting level, will we move higher?

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Daily pinbar indicates a move higher. Which is great, we can sell it back down

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Lots of news reference trade wars and seeking yen for safety, so I’m staying bearish, plus Merkel / EU, Italy and Greek political tensions.

Trade active

I remain bearish below 128.6

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Lovely profit overnight, looks like we’re going further

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85 pips in profit, no sign of it ending, lots of Yen strength this morning

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We're approaching the centre line of the descending channel, 170 pips in profit, 3% trade, very nice!

Trade closed manually

150+ pips, 65% profit taken on a 3% trade, very nice move down, forecasted from technicals, delivered by fundamentals, this is who it works, don't trade the news, trade your charts.

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Breaking the centre line of this channel will be a very bearish move, indicating a move down to the southern edge of the channel, that will produce a lovely trade

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Buy at a pullback into the green zone and take profits at 132

CBMotivation

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CBMotivation

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