Good evening, here in Brazil are already 10 pm and I was here looking at your chart and I also like to trade the yen, mainly USD / JPY and EUR / JPY.
I want to exchange an idea with you about your chart so I have attached a picture below of my business model also the EUR / JPY, but I usually use the time to negotiate the daily yen for one reason only that I have no time available during the day to accompany me for graphics and work fulltime and am still struggling to become a forex trader in the future, I found a better way at the moment is to use the daily charts.
Do you believe that the EUR / JPY will rise to that level again?
Will he return to again reach the annual level of 132.727?
What tools do you use to trade the yen? Negotiates some other pair as USD / JPY and GBP / JPY?
Currently the pair formed a three candles of indecision, not signaling anything yet.
Just a few questions so we can discuss why I like to negotiate yen because some have a movement like this and help in technical analysis.
Last week Chris Capre showed me one of your articles for me to read, who spoke about trends and helped me solve my problem as changing trends and how to identify the type of trend that we are negotiating, because my question he was about trends and I like to negotiate on behalf of the trends and never against them, this is one of my strategies.
I read the article by Chris a couple of times to understand concepts well and you basically talks about two types of trends. The first occurs when a price drop after an pullback, and another trend where buyers and sellers have and there is a decline in this trend occurs.
I just would like to know better what is an pullback and that is a breakout?
I would appreciate if you could help a little research on the web but do not quite understand yet.
Hello Brazilian: Hola! I understand Portuguese, so don’t struggle much with English when asking the questions.
I am more of a h4 trader and rarely go below the H1 and beyond D1. However since I trade with quite a high level of leverage, I can’t trade the daily chart.
The EUR/JPY has been on and uptrend for the past one year as indicated in the weekly time-frame chart. In the same bullish spirit, I do expect the up run to continue till the 138.00 level, which has been a consolidation zone in the past. Past this level we may expect the 150.00 in a matter of weeks. The three candles are just part of a corrective move and will break as soon as there is increased order flow.
I am PA trader and have a lot of difficulty using indicators. Just as in the chart that I have posted, I draw my support and resistance levels and insert volumes to signify increased orders into the market.
That’s all for the trading strategy.
Yeah, That’s a wise decision to stay away from the market if you cannot get the direction properly from the upcoming news events. Currently I don’t have any open trades.
As stated in the article, sometimes taking a pullback is better than a breakout, while other times it is not. It depends upon the type of trend the price action is showing, so you will need to read the price action of the trend, based on the criteria I put in the article, and then decide which is the appropriate strategy to get in with trend.
Let me know if you have any questions so I can clarify.
I found it very important to your article and glad you told me because I have no doubt yes. As was mentioned before, since I was often waiting for a pullback that never came and just letting go blank various businesses today.
My question is just best that you clarify for me what is a pullback and what is a breakout?
It may seem a silly question, but I wanted to clarify this because I need to understand well what is it first to understand the entire article of yours I’ve read about trends in your site.
[I]What do you mean by using a high level of leverage and so you can not use the daily charts? How porcentos (%) you risk per trade? It has to do with it?[/I]
It’s good to know that the EUR / JPY continues with high spirit since last year and Wed will still continue to rise, this is great and I want to reap a good pips this next trend to come.
[B]But I wonder how you know this pair will still continue in an uptrend? How to know if a bullish trend will continue?
Do you use any tool for that or just compare with past movements?[/B]
Reach the level of 150 would be great, would be made good profits, but just wonder how do I know this … if the trend will continue or not, even when the pair will continue rising and stuff.
I think these are issues that every trader who trades in favor of the trend would like to know, after all, the trend is our friend.
What about my trading method, as I mentioned before it is to use daily charts only, always negotiate on behalf of the trend and not against it, use only one configuration 5,3,3 stochastic indicator to measure the strength of the price movement and one EMA 20 a tendency to identify.
Before I was using three moving averages now use only 20 ema which is the same one used by Chris Capre in his method, but he uses on H4 charts.
Hello Brazillian percento risk is maintained at 2% of the account balance but the accounts I handled are all mega executive with a minimum of 5 lots( margin: 5000) per trade and I have to be careful on how much exposure I allow.
How high is high? Its all about relativity… Compared to when? Looking back in history we can see that the market has consolidated at 130 and 150 before and we can expect the same if the up trend continues since as a basic logic, history repeats itself.
Whether the pair reaches these level or not, Its all about the orderflow…why would more guys keep selling the JPY?..
The million dollar question.
Yesterday in my daily market commentary, I talked about the GU, particularly looking for pullback setups towards two key levels. The pair went to the first, and then sold off 99 pips, so hopefully you profited from that one.
You will notice in the chart above how the pair is forming an honest attempt to bottom, showing signs of two way order flow (can also be seen on the 1hr chart). If the pair clears 1.5272, then it will test 1.5320, and a clearing of here should bring it up to 1.5400, so some potential reversal plays here.
Watch the intra-day charts at this first level and support around 1.5200. A break back below the prior lows brings up 1.5075, so plays on both sides here.
Hey guys, havent posted in a while, well basically, my trading has been improving exponentially recently. Ive created a system for the 15 minute which works extremely well.
I have backtested on the 1 minute, and it looks even better, so from today, I am going to forward test my 1 minute version across all pairs on a demo to see if it really works.
If this works out, I will be a VERY happy man. Wish me luck guys!
What will you guys do whenever you have set-ups across multiple pairs? Let’s say they are all quality set-ups in your standard. Are you going to take all of them and just cut on the lot sizes to fit in w/ your risk management?
Hey mate, when I am in this position, I either take the one with smaller pip range (to realise my risk multiples quicker), or take the most defined set up.
Or split it up to maintain the same risk, which is what I usually do for intraday trading.
