EURJPY Long
I’m putting a tester position on the EURJPY, SL 128.50, PT 131.80
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Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
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Well, this isn’t going so well! lol
Actually… if this next move doesn’t give me a new higher high on the 1h chart. I’m going to dump the trade. I’ve got a new higher low, but I don’t like the range.
I have a thought (yes it happens) go to the USDJPY 4HR and draw or imagine a TL down starting from the peak at 27th Nov and downwards past the peak at 12th Dec, you will see that the USDJPY broke that TL as we all know and tanked as we all know, but what you might see now is the pair has retraced almost exactly to the other side of that TL and is now producing a bullish candle … is this what we were expecting ????
OK Ive screencasted the USDJPY thing …
http://www.screencast.com/t/ZjEwZjQwOG
(i bet it tanks … right after all this work ha!!!!)
check this EURJPY thought …
http://www.screencast.com/t/Mjg4MDZi
Ok i’m going to lie down now … too many thoughts !!!
Aby, well done. I think you’re spot on.
The u/j (actually jpy pairs in general) will retrace back to old trendlines on their way to the 800 sma and that is looking like it is ripe for its second attempt.
I like the channel on the e/j, too. I actually didn’t spot it. I think I was too zoomed in on my charts and was only watching the sideways movement (should’ve known better on a eur pair, huh?)