Thanks TraderJ12.
I make my decision on the daily charts and place my trades after the end-of-day; FXDD is 2PM Pacific time. This works good for me because I work the evening shift that starts at 3 PM. By the time I get out of work, the European markets starts opening.
I did tried trading the 4-hour and 1-hour charts before, but it did not work for me…I ended up over trading. So, I use the lower time frame only to make a decision on the trades I have open.
Rick
Placed few trades today, but want to share Short USD/JPY. The price is at a resistance level and lower highs. The Stochastic is higher Highs, which is a hidden divergence. Entered at 79.42, SL at 79.78 and Target at 78.69 (2:1)
drick008,
Thanks for starting the thread drick008,
How successfull is this system for you
@PREDITER
You’re welcome; I started this thread so I could share what I’ve taken from School of Pipsology: Price action, Support/Resistance, Oscillator, Divergence and Fib.
I would say that the way I trade (system) makes me more confident and that’s how I define as successful.
Rick
How is the USD/Jpy trade going?
Still open, I have not been stop out yet. This is a low risk trade for me and if it did stop me out…depending on how strong the move is, I might reverse my position. But for now, I’m chilling out and looking for new opportunity.
PS
I’m still bullish on NZD against USD and JPY
Here’s a new trade: Long EUR/AUD @ 1.2669, SL @ 1.2545 and Target @ 1.2745
Two consecutive lows were equal and divergence between the price and Stochastic.
Still holding the USD/JPY.
Rick
After second look on short USD/JPY and doing another analysis, I closed my position and change my bias. I believe the USD/JPY is going up looking at the weekly first: with the new low, a new trend is in process. The daily also have indications that it may continue the up trend especially a reverse head and shoulder is forming.
I place a long position at 79.45 with stop at 79.00
Closed my Long EUR/AUD position with -30 pips.
I’ll concentrate on Long USD/JPY and moved my stop loss to 78.70.
Long USD/JPY stop out with -75 pips
Long USD/JPY
Friday’s move down made a new low for the Daily chart and touch the previous trend. Looking at the hour chart, price did try to go down more but something is keeping it from doing that.
I have Long positions at 78.66, stop loss at 78.00 and target is open.
Have u get out of your long USDJPY trade? It seems the JPY continues to gain strength!
TraderJ12,
I’m still in. This is a long term trade for me, but I did adjust my stop loss to 78.25
Rick
Moved Stop Loss to 79.40
Watching the 100% Fib Extension at 80.40
Edit: Closed 2/3 of my position at 80.30 with 164 pips.
This trade took a whole week and I closed my last 1/3 position: from 78.66 to 80.46 = +180 pips. I’m still bullish on this pair because it created a Higher Highs and Higher Lows. I’ll see what happen next week…it may retrace then continue up.
Rick
Hi Rick,
Just to say thanks for updating your thread with your trades. Keep posting your charts and I do like your military precision strategy and analysis. Very focussed and direct. I sure do will like to develope a strategy like this.
Well done and I hope to see your next snipper analysis chart for next week.
Last Friday, I closed my Long position on USD/JPY. It reach the 100 % FIB extension of previous up trend. It may continue to 161.8% or retrace back before going up again. Checking the Dollar Index, last Friday it produced a Pin bar. Looking at the USD/JPY 4-Hour chart, divergence between the price and the oscillator. So, I believe, there is a higher probabilty of retarcing back to 38.2% or 50% Fib retarcement. BUT, I’ll be watching the continuation too 
Well, that was a quick one. My Short USD/JPY order at 80.40 was triggered at the opening. Target at 79.80 (38.2% FIB Retracement) and 79.60 (50% FIB Retracement) were hit.
Right now, I’ll be watching the 4-hour chart to see if it bounce back up or go through the trend line. If the price stays until the end of day, the daily chart will show an Evening Star. So, I’ll be waiting for a new opportunity.
Rick
USD/JPY Daily chart is showing price retrace to 68% and MIGHT be a new low. Looking at the 1-hour chart, price bounce off few times. I placed a small Buy USD/JPY at 79.45 stop loss at 79.00 target is open.
Rick
Added 4-hour chart: Price is Higher Lows and Oscillator is Lower Lows, which indicates hidden divergence.
Any updates on the USD/JPY…?