tell me what you think!.. channel UP or will the unemployment release on the 9th push it further down?
hi jongp2,
seems you are using a long-term chart here (daily?). I think you should first determine the stop loss level before entering long. Although I do turn short term in-the-money trades into medium or long term trades. I will never plan a trade based on a long term chart because price can move against you by a lot without invalidating your view. I like to drill down to hourly or H4 to see if the short term bias converges with long-term bias. If so I will enter with a stop based on short term chart and a target based on the long term chart.
Colin
I think long USDJPY at current level with a stop at 79.50 gives much better reward/risk ratio.
ahhh! thanks for you input. It’s a given that fundamentals could easily derail this long term trend. Nonetheless, i thank you of your insight and tips!
much appreciated,
Phill
no problem :):13:
I dont know if I would be long right now. Maybe look to see a bounce at fair value. But my opinion is very bias since 1 I only short AUD/USD and 2 if a I would agree with you long then I would discredit my short I have open soooooo good luck on ya
thankfully i was stopped out by 50-pip trailing stop! bagged +290 pips in the last 4-day uptrend!
Good work! I wasn’t watching the Aussie too close lately but there was a definite clean test of that support! Wish I would have bought! Hind sight 20/20… Haha
well… Ausie will bullish ya