Uj
ASIA: USDJPY - B&R - MOMENTUMLiterally the same exact setup (break and retest) we just posted for AU but this time they are swinging pairs the other way (probably, who knows) It makes sense tho since last setup hit TP and reversed. Would rather wait for a candle close above previous candle but I like the USD momentum I see across the board.
UJI am seeing this melt for quite a bit before it breaks out of this channel and continues the bullish trend. We are still in the pullback, ZOOOOOOOM THE FCKU OUUT and you'll see there's quite a bit before the bigger trend.
UNLESS
If we have a break to the upside and retest then we have to prepare for a very volatile market because demand is on the upside but provide before the correct time will lead to false breakouts and blown accounts. This will be to account for the demand as supply won't be able to keep up. So to keep moving the car will go around collecting fuel from all the cars that have other mechanical or electrical failures and aren't moving.
USDJPY long position Just a short term long position on UJ. Had a push earlier today towards the downside so looking for a correction. Could possibly go higher than the target but would need to see multiple candle closes on the 4hr time frame above the target area for confirmation.
93 pip target for now.
USD/JPY - No News? OANDA:USDJPY
Be careful of what we ish for.
We all hate trading news days, but those are the days we get price action pushes one way or the other.
Today?
I wanted and prepared for a short after NYSE open, never triggered, only long plays which I didn't take early on.
OH well, NO NEWS days typically chops in boredom last half of London and into NY.
Trade smart
ASIA: USDJPY - B&R - DEPLETION/MOMENTUM BUY STOPProvided that price jumps thru our buy stop we can take this setup as our simple 'Break & Retest' paired with our depletion/momentum entry signal and go for at least 1:2. Higher level buys seem to be stuck around 132.6 so we can use this as a guide for initial profits. Lets see if it plays out
Another 10? YES another 10 OANDA:USDJPY
Took a quick short on the UJ for hard 10pips, before Michigan Consumer Sentiment.
Why only 10?
I say, "Why not."
For me, it's easier to predict (guess) price action to hit a closer TP, versus a TP that is so far away, that I need use binoculars to see clearly.
Stoploss?
I say: "Trade management"
Trade smart
Trade safe
Trade well
TikTok Ban - WOW (also USD/JPY Short)OANDA:USDJPY
BIG NEWS, HUGE NEWS
UK Government officials are NOT abe to day dream on TikTok on their work mobiles any longer, now they have to work during work hours.
OK, I got that out of the way.
Took a short on the heels of news release of Building Permits, as the DXY (dollar index) pushes lower at that minute.
Trade took less that 5 minutes for a hard 10 pip TP
ECB multi release in few minutes, watch this
Trade smart
Trade well
Heading into JPY Balance of Trade Release - Short ScalpOANDA:USDJPY
Heading into another high impact news release out of Japan, the Balance of Trade, I took a short scalp of 10 pips hard TP with tight stop loss at this hour.
This scalp took about 10 minutes.
Nice to have a few easy ones in the books.
Now we sit on the sidelines and wait for price action after this news release to settle in.
Trade smart
Trade well