Hi all expert traders,
may i know your view on EUR/JPY outlook…?
I go long on friday at 134.54 and now the pairs had tremendously dropped to 132.63…
Has it hit the support line??? Is it due to the japan voting that cause the dropped?
If you look at the BigPippin blog, you can see a nice chart formation on the EURJPY. It seems that the pair has broken support at 133.00. If this goes lower than 132.00, it might just keep shooting down…
All the yen pairs have been bearish for the past month now. I’m thinking this week will be bearish as well.
I agree with everyone else, but on a different note it’s not really a good idea to open a trade on Friday if you’re going to hold it over the weekend.
It’s a whole lot safer to wait until Sunday open to make sure a weekend gap doesn’t catch you.
Those gaps can blow right past your stoploss and cost you a [I]bunch [/I]of money. I’ll quote the message IBFX sends you every Friday at market close…
** PLEASE NOTE** - THE MARKET CAN OPEN HIGHER OR LOWER THAN THE CLOSE, CAUSING A GAP IN THE PRICES. IF YOUR MARGIN PERCENT ON YOUR ACCOUNT IS CLOSE TO A MARGIN CALL, YOU MAY HAVE POSITIONS CLOSED OUT AUTOMATICALLY AT THE OPEN THIS SUNDAY. CLOSING SOME OF YOUR OPEN POSITIONS YOURSELF TO RAISE YOUR MARGIN PERCENT IS AN OPTION YOU MAY WANT TO CONSIDER.
Another common scenario that can happen when the market gaps over the weekend, your stop order (stop loss) becomes a market order when the price reaches it. (A stop loss is a stop order that becomes a market order when the price reaches it.)