On market open, we have the Japan Trade Balance numbers. Historically, it's rare for the market to move in either direction a considerable amount, unless the forecast has been missed completely, this has happened twice in a year, both times the market fell over 500 pips, but each it was in a down trend, so a potential opportunity to get a bargain on a pullback at 110, especially with diverging volume and a rising RSI.
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Nice gap up, which rocketed me into a bigger profit, but we still have the JPN trade balance tonight, be prepared for anything, we'll know tomorrow morning, patience is key, leave emotions in bed, and enjoy your sleepNote
Not much to say on this one, we're in profit and I've revised my target up to 115, yes, it's a long way, but it's doable, especially after JPN trade balance numbers last nightTrade active
My trade is already active, 16/05/2018 - 00:24 @110.247 I knew it was a winner thenNote
Hopefully, you used the pullback to get in on this trade. Volumes are not solid, so there may be still opportunity to do so. Going to be very profitable over the week.Note
If like me you're still in this trade, it's taken its sweet time about getting up to the @111.475 I've been adding longs on each pull-back, but my great concern is the lack of volume on this chart. Thankfully the daily chart doesn't support divergence, but that doesn't mean it won't fall further in the short term, I remain bullish after @110.Note
Look at this pair tracking nicely up the trend lines, RSI and volume still building, so much weakness in the Yen, despite some selling on the USD, we're still not going down, this will rocket tonight if the JPN PMI numbers are poor.Note
Trade closed at break even after seeing divergence prior to the Japanese divergenceNote
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.
Both pair are equally weak, keep away from them right now
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.