USDJPY 4HOUR CHART
Long or Short: Short
Entry Point: 98.000
Stop Loss: 99.540
Profit Target: 94.460
Trade Explanation: Price failed to make a higher high and ended up forming a head shoulder pattern. Price is now trading at a major support and I am looking to sell at a 4 hour close below 98.190 lows.
[QUOTE=“PipsCall;513571”]USDJPY 4HOUR CHART
<img src=“301 Moved Permanently”/>
Long or Short: Short
Entry Point: 98.000
Stop Loss: 99.540
Profit Target: 94.460
Trade Explanation: Price failed to make a higher high and ended up forming a head shoulder pattern. Price is now trading at a major support and I am looking to sell at a 4 hour close below 98.190 lows.[/QUOTE]
If you are sure then confirm me… I will go with you…
Forex is a risky business. Before you enter a trade make sure you know in advance why you are doing so. A close below the said level increases the odds of a short but never 100% certain.
[QUOTE=“PipsCall;513623”]
Forex is a risky business. Before you enter a trade make sure you know in advance why you are doing so. A close below the said level increases the odds of a short but never 100% certain.[/QUOTE]
What is your opinion … Should i enter or not… What will be tp and stop loss…
Appreciate…
I am not absolutely sure whether you should enter the trade.
Technicals met
Trade activated, stop loss readjusted to 99.000
I wish I knew how to write ‘May the pips be with me’ in Japanese.
[QUOTE=“PipsCall;513716”]Technicals met
<img src=“301 Moved Permanently”/>
Trade activated, stop loss readjusted to 99.000
I wish I knew how to write ‘May the pips be with me’ in Japanese.[/QUOTE]
Whats your entry point …
Entered at 98.209. My plan is to scale out 70% of the position at 97.111 move my stop to breakeven and target 95.460 on the remaining position if all goes my way, at least that’s the plan.
already made a profit from shorting this pair 121 pips made. but shorted at 98.20 as well looks like it has more to give. lets see.
[QUOTE=“PipsCall;513824”]
Entered at 98.209. My plan is to scale out 70% of the position at 97.111 move my stop to breakeven and target 95.460 on the remaining position if all goes my way, at least that’s the plan.[/QUOTE]
I was getting very handsome profit as it went twice to the support line… Third time i decided that i will close the trade if now it reached to support and unluckily till the market session closed it didnt came back… Almost stop moving and at the last moments it started to go far from support line…
Now my question is that whats your opinion to take the profit whatever i have now or still wait for the support line… Or the third and the best scenario is if price crossed the support …
I did actually a mistake as well… I had already an open trade at euro/jpy and then after the reports confirms at japan … I took usd/jpy as well… Meantime you came and showed the entry i got quite confident that i am not alone… But for now as i already have alot profit from this single deal now dont want to loose it… As already lost once price came back from 97.960 to now…
So need your opinion about this new trend… Is it seems of change of trend or it will go back again to 97.960 … With your take profit it seems that it has to cross support line… But what your technicals sense says…?
I think that it will all depend on the announcements that are to be made on the policy Japan will follow Sunday night/Monday morning.
We are in for a high volatile week as far as the JPY is concerned.
On Wednesday the US will have important announcements to make that could hit the volatility of any pairs that are involved on the JPY and USD side
[QUOTE=“Marob;513872”]I think that it will all depend on the announcements that are to be made on the policy Japan will follow Sunday night/Monday morning.
We are in for a high volatile week as far as the JPY is concerned.
On Wednesday the US will have important announcements to make that could hit the volatility of any pairs that are involved on the JPY and USD side[/QUOTE]
Consensus says it will be better than the old one… As the prime minister abenomics… They made his name due to his economic policies… So for sunday and monday morning speech is also important from BOJ governor …so hope so that it will be in favor of economics as well so it may boost the economy…
Technically speaking the setup is very strongly indicating more bearish movement, so technically its best time to get short now. But fundamentally, i am not too sure about it. 
But really great set up.
[QUOTE=“Razor1911;513886”]Technically speaking the setup is very strongly indicating more bearish movement, so technically its best time to get short now. But fundamentally, i am not too sure about it. But really great set up. :)[/QUOTE]
The best trade is always which is technically and fundamentally supported…
[QUOTE=“Razor1911;513886”]Technically speaking the setup is very strongly indicating more bearish movement, so technically its best time to get short now. But fundamentally, i am not too sure about it. But really great set up. :)[/QUOTE]
Technically what you found… As i was trying to get some on each chart but honestly i didnt find anything…
I still have open trade which i am keeping from 100.245 dont want to close it as it will be my best trade ever… But the problem is last two hours of closing session as price starting to raise…even it crossed the line which i drawn for highs high at morning time…
So will be appreciated if you can share anything you found technically which indicating more bearish movement…
Yes obviously, as you can see in my setup, which has both fundamental as well as technical consideration. But if this setup goes well, then i will have to lose because i am going to buy EUR/JPY where as this setup is about shorting USD/JPY. Lets see who wins, fingers crossed … :26:
The Pair is in Extremely Oversold category, so i think even if this pair keep on going to south direction, We will see some short term retracements up to the recent support level, i guess up to 98.70, But i am not too sure about this pair as the dollar is becoming so much unpredictable these days.
I totally agree with you…
We expected after last weeks elections in Japan for the currency to lose ground to,the euro but it went exactly the other way around…
Let’s see tomorrow after the announcements of the BOJ if does go exactly the other way around…But you know want they say…when everyone expects the move then the big sharks expect to play the other way around…
I still remain long on both pairs and hope to be on the winers side!
Its best to take some of it off at a retest of Friday’s low.
