allright.you are a newbie,ok?and most newbie is wrong!so so ,usdjpy will down.
ofcause it is just a joke.
Now lets try a game.
Short [email protected]
stop loss 108.8
target price 106.8
Let me see what will happen?
@dudupips You are very right that I am a Newbie. I gave my analysis as per current scenario that I saw on the chart which might be wrong.
However, I have already closed all my remaining open positions today at the price of $107.700. Here is my statement for your review:
Statement = 20/02/2018
And I never told that I am in an expert or I want to contest with anyone even yourself.
I am short on this too
@tralaritralara Please keep in mind that the major trend is Bearish and current movement is a correction phase. So you are very right to take a Short Position in USDJPY. But the question is WHEN???
What I have done is to catch a Short Term Counter Trend which is a risky movement and no Trend follower would appreciate it.
But as I am a Newbie so I am experimenting every option what I have learned in School of Phipsology,
Not now, I will after a price action signal from H4
That’s what I mean. We should wait for a confirmation to start a buy or sell trade and not just because an indicator is showing a bullish or bearish signal.
Hope to clear my point.
good job.u make profit from longing usdjpy.
1 Like
I have stopped using indicators from some months ago and it seems to work well. My trade on your retracement was shorting on XAUUSD, I will take profits today, and wait for bearish confirmation on USD pairs. Anyway, in the long run, I don’t think they will surpass their previous low/highs.
1 Like
Trading counter trend still possible to obtained profit, but also need to use tight risk management to avoid reversal major trend that may endager account if eventually before closed order but the trend already continue to major trend, it could causing big loses, if already floating profit might can modify stop loss in profit or exit if already reached target
How is it going?My friend.
@dudupips Great. After closing my USDJPY all open positions. I am Long in USD/CAD since 21/02/2018.
I think you didn’t check my post on USDCAD. If you wish you may check it here USD/CAD Buying Signals for Swing & Day Trading..
After posting the above result as on March 06, 2018 I couldn’t post any update of my trades to My Ichimoku Trading Journal.
As I was so busy in some important matters that’s why I was unable to trade from 14th March to 11th April, 2018. However, here is latest update of my trades for your review and comments.
Hi Community
I have developed an Excel sheet to analyse the strength of major currencies (Strong Vs. Weak). It is still in testing mode. However, today, I tried to test the result of my analysis’s sheet.
Here is the screenshot of my XL sheet:
The USD is the strongest currency (100% positive) and the CHF & AUD are the weakest currencies (83% negative) on the basis of Daily timeframe prepared at 7.00 AM GMT.
So, I Bought 0.50 Lots of USDCHF @ 0.99403 (Purple line). I placed my SL at 0.98944 (Red line) in between the Support Area (Black Dotted Lines) showing in the following charts. Later-on, I re-adjusted my SL to break even. My TP is set to 1.00015 (Magenta line) just below the previous swing high.(1.00170).
Here is my today’s trade snapshot for your review:
Daily TF chart
4H TF chart
Snapshot of my MT4 Terminal along with details of my Open Position
P.S: THE AUDUSD has also broken the Support Area and trading below it at 0.74789.
I welcome your views/comments on the result of my XL sheet. I would also appreciate your suggestions for further improvement of the said sheet.
Unfortunately, my SL was hit due to quick readjustment of it to break even at my MT4 Terminal.
As per my Strong/Weak Analysis sheet, there were various pairing opportunities available as on 1st May, 2018. Since I am testing my SW analysis, so I took the following trades during the last week session:
1- USD(100% Positive) CHF (83% Negative) = LONG Position
I bought a Standard Lot of USDCHF at a price of 0.993790 as on 1st May, 2018 and sold it at a price of 0.996950 as on 4th May, 2018 gaining a Net Profit of USD 348.55.
3- CHF (83% Negative) JPY (83% Positive) = SHORT Position
i sold three standard lots of CHFJPY at a price of 109.463000 as on 3rd May, 2018 and bought it at a price of 109.16000 as on 4th May, 2018 gaining a Net Profit of USD 821.21.
As per my SW Currency Analysis, I bought CADJPY and sold NZDCAD on 10th May, 2018. Here are the screenshots of my SW Analysis sheets as well as of above two trades taken at the time of the deals.
Screenshots of Excel sheets
Pairing of Major & Crosses as per SW Analysis
CADJPY Trade (Buy @ 85.820, SL = 84.925 and TP = 90.560)
NZDCAD Trade (Sell at 0.88588, SL = 0.90270 and TP = 0.86985)
After taking position in both the pairs, the market showing consolidation. on 4H and 1H timeframe. Let’s see how much time it would take to start moving in a proposed or opposed direction.
At last, both of the pairs have started moving in the expected direction. Here are the Open positions of my two trades
1- XMGlobal - Demo
2- Dukascopy - Demo
The above two trades on XMGlobal have closed due to hitting of SL on 18th May, 2018 after releasing of Canadian Core CPI and Core Retail Sales Reports becuase of early adjustment of the SL of CADJPY and NZDCAD .
Here is the Trades’ record of XMGlobal
However, I didn’t readjust the SL of CADJPY and NZDCAD at my Dukascopy account. So both the trades are still open. Here are the current status of both the trades as under:
WHAT LESSON LEARNED FROM THESE TRADES:
So what I have learned from my previous few trades that I tried to readjust my SL so quickly that’s why my SL was hit otherwise I would have earned profit on my previous trades.
On the basis of my above SW Currency Analysis, I bought USDJPY at 111.367. My SL is 110.130 (near Fib ratio of 61.8%) and my TP is 113.080 (just below the last swing high and Below Fib ratio of 100%).
Here is the chart
Points to be noted in the above chart.
- The Pair is in stage two,
- It is an Upward Trend,
- Price is trending above the Cloud,
- There is also a Kumo Twist visible and the Future Cloud is Bullish,
- Recently Pullback occured (2nd Wave),
- Now it is trending in 3rd Wave,
- ADX is above 40 indicating a Strong Trend.
As per SW Currency Analysis as of 22nd May, 2018, I bought 0.20 lots of AUDJPY at 84.459. My SL is set to 83.670 (just below of Fib level of 38.2) and my TP is set to 85.690 (just below the Fib level of 61.80).
Here is the chart of AUDJPY
PS: As per SW Currency Analysis, we can pair following currencies
EURJPY, GBPJPY, AUDJPY, NZDJPY. I made comparison of all the four currency pairs and found best suited pair is AUDJPY. You may check it from the following Overlay chart.
I have already my open position in USDJPY, so I traded the best available currency pair amonst all of the above four pairs.