Hello Traders, if you were in my free webinar where we looked at all the Yen pairs you would remember this down forecast. Hope some of you got it.
if you are not in, then wait for a 240 correction and i will post the update for the sell setup.
Trade with care.
Thanks for your support.
YouTube link : https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
the cadjpy is making a bigger correction
wait for a lower degree impulse to the down side first then a correction before any sell
YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos Facebook: https://www.facebook.com/ProwaveTrader Training : add to skype mangal457
I could kick myself Anil.
I sold this pair and other Yens on the daily, then for some strange reason thought the downtrend had almost finished.
Closed all my trades - sad or what ?
The weekly is very clearly in a down trend.
I have been in AUD/JPY since the breakout and have confidence it will go to the bottom of the channel so will continue to hold till 75. Thank you so much for everything Anil, you have instilled both knowledge and confidence in my analysis and its further supported with your incredible analysis.
For me it is hard to have confidence because i often get the waves wrong. I expect one more to come then it does not, i expect breakout after nice completion of waves and... no breakout. I stick to the idea commonly tought that triangle is most cases a trend continuation pattern,and bam! sure thing that time it isnt ... and so on.
Thanks for the links again and for youtube upload. I enjoyed your webinarswebinar and liked what you say about moneymanagment (not having e.g 10k but only 3k taking psychological problems into account) What i did not like that much was bashing against pinbar trading because everyone who trades them knows that it needs additional aspects to come along with them like being at trendchannel borders or /and in overbought/oversold areas (eg outside of bollingerbands or some RSI ...) But i think i got your point: your charts are simple, no fancy or less fancy indictors, ...then patience, experience,patience again, timing, trading plan, moneymanagemen,, shot and strike! One Mythos beer on you now! Cheers!
Hi, Thanks for your comment , but i was not bashing pin bars trading, I was saying it'd trading the "design" of the charts and not the "information in" the charts. One simple way to know this is just change the design from candlestick to line charts and what happens to the pin bar strategy? Hope you see my point.
The bullishness in this pair continues to be quite strong,
but the down move is due for which I'll sell and do so gladly.
Appreciate the trades you work on and post Anil.
You want what we want; lets hope the markets want it too.....Success.