Excellent! Yesterday and today we’re both very good. Tomorrow, I only trade if it’s a no-brainer.
But it is tempting to still look at going long on euro/jpy on The daily chart. Maybe if it doesn’t move too much tomorrow, Monday will be a good time to take another look at it?
Hmmm, the daily scares me. Ha! This is exactly where I’d enter and then price moves in my opposite direction. I’m seeing a bullish channel, and price is right at the top of the channel. You’re thinking like a breakout to above 160.40?
Entry clues:
Blue candles mean price is above MACD zero line.
Price bouncing off the 200 (Purple) EMA and over the midpoint of the CAP channel.
There is still room before price gets to top of CAP channel.
The TMA 200 line has gone from Red to Yellow and will go Green if today’s candle finishes near where it is at now.
Oscillator window: Fast (green) EMA crossed over slow (red) EMAs.
Price bounced off 50 (White) LWMA.
A Buy order could be placed where price is now, or a pending Buy order placed near the 9 (Yellow) EMA.
That is how I see it. As always, I could be wrong.
Another good day trading.
I made good pips on the Eur/Usd long.
I went ahead an entered long on Usd/Jpy on D1.
Pending long on Eur/Jpy D1
Thanks! Great to know about another option.
Also, as one of my new year’s trading goals, I’ve joined the KOF 1% club to trade with KOF on a daily basis. I’m really enjoying it and learning a lot - learning and earning at the same time, as he says!
I’m having to battle with my 5am PST nemesis to do it though lol. He is often going live starting between 15:00 - 16:00 MT4 time. Usually near the start of the London/NY overlap.
I think a sustainable goal is to get up at 5am 3 days a week. I wouldn’t mind getting up at this time if I could get to bed earlier, but I have too many bed time battles with my 3-year-old. She naps at daycare (where it’s their policy not to prevent it) and so this gives her some serious party power all evening until 10:30 to 11pm 
Moving forward slowly one step at a time 
@Birwi12 I hear you about those early morning starts. I feel fortunate that I can schedule my work day around things (self employed).
Now, after doing it for about 2 years, I look forward to my morning alone time when I can trade and not have distractions.
As for joining KoF 1% Club - I expect to join as well at some point. I usually have better profits when I happen to be available when he live streams. Plus, it’s so much fun!
thanks for your nice post
Here’s what the signals look like on the daily charts. The usd/jpy has been giving me money for many days in a row now. In the oscillator window when that green line crosses the red. That’s the signal.
Awesome analysis. thanks for taking the time to get that together. I’m going to see if I can mirror your indicators in Tradingview. I’m still using the ema channel cross indicator from last year.
Me too. I’m always sleeping at like 1 and 2 am ET. I’m a night owl.
@AmericanTrader On EURJPY, looks like on the daily, after your post, it dropped a full1%, but now working on a close above the Jan 11 high. Couid be right in line with your analysis now. Did you take the trade last week?
Oh awesome. I put in a limit order at 159.83. Maybe we get another pullback and back up. Let’s see.
JPY should weaken during NY.
USD/JPY long paid off overnight.
Sitting at 180 pips profit for the week.
Like Samewise, I have a buy limit on a couple of pairs. USD/Jpy.
Some nice pips today on EURUSD shorts. Caught the move at 8am ET. And it’s been bouncing up and down since.
@AmericanTrader Can you help with PSAR? How are you using it? Or are you still using it?
I see the blue dots. You using them to exit, so like a exit signal maybe?
@samewise it’s been great Pips all week! Of course I’ve been mainly doing longs on euro/jpy and usd/jpy. Both of them just shoving money into my account.
For the PSAR, lately I’m only using it for the king of Forex scalping, which I have not done yet in January.
Euro/Nzd long nets me 29 pips this morning. All short-term trades closed for the day.
I hope all of you have had a profitable week and have a great weekend.
