In a nutshell:
- Leg B completed
- TP stated in the chart
- SL stated in the chart
Trade active
Comment:
50 pips
Comment:
Like the CHFJPY we are missing momentum. EMA 50 4H = EMA 200 1H; which provides right now a strong resistance (130.95). If you are more conservative traer, time to consider to review your SL/exposure. On the other side it would be a good sign if we close the 4H below 130.95. So let´s see what will happen.
Comment:
Nice… this is what we were waiting for: 100 pips. In any case move SL to BE.
Comment:
Till now we have made 120 pips. We are close to EMA 200 daily which might provide some resistance. We might see the follwing:
1. Breaking of EMA 200 & retest of EMA 200 daily with further downtrend
2. Testing of EMA 200 & move back to PRZ with retest of the uppter PRZ
3. Testing of EMA 200 & Retracement & break of EMA 200
How do I trade it & Why: I am going to sell 60% of my position. I keep 40% and keep SL=BE. As I already wrote I am missing some momtentum on this trade. We would need a trendbar in the daily to break EMA 200 daily. If this is going to happen Monday/Thuesday I go for TP 2/TP 3. If not, I would target TP 1 and be happy with the profit already made.
1. Breaking of EMA 200 & retest of EMA 200 daily with further downtrend
2. Testing of EMA 200 & move back to PRZ with retest of the uppter PRZ
3. Testing of EMA 200 & Retracement & break of EMA 200
How do I trade it & Why: I am going to sell 60% of my position. I keep 40% and keep SL=BE. As I already wrote I am missing some momtentum on this trade. We would need a trendbar in the daily to break EMA 200 daily. If this is going to happen Monday/Thuesday I go for TP 2/TP 3. If not, I would target TP 1 and be happy with the profit already made.
Comment:
Scenario 2 is more likely. It was just announced that BoJ is considering policy change which should provide us the needed momentum to break the EMA200...
Comment:
When TP 1 is reached I am closing 60% of my position.
Comment:
TP1 hit
Comment:
210 pips. Please do not forget to take some profit.
Comment:
TP 2 hit: 230 pips. Time to sell another 20% of the position and move SL to TP1.
Comment:
Some more candy for our trade: CPI 0.8% instead of forecasted CPI 0.7%.
Trade closed: target reached:
TP 1 Hit: 170 pips (60%)
TP 2 Hit: 230 pips (20%)
TP 1 SL: 170 pips (20%)
Trade is closed. Enjoy the pips and take care :)
TP 2 Hit: 230 pips (20%)
TP 1 SL: 170 pips (20%)
Trade is closed. Enjoy the pips and take care :)
Comment:
It is worth to think About reentering the trade with a new TP 125.50... :)
Trade active
Comment:
Very good timing… Another 150 pips
Comment:
This is the best trade of Q3. The first trade in EURJPY was already good, but the second trade is just massive: another 340 pips within 3 trading days. As written above on the 2nd August, new TP of 125.50 hit. I am closing the trade. Overall: 500 pips (trade 1 & trade 2).
Trade closed: target reached
Comment:
I re-enter the trade for the 3rd time but now just with half position and TP 1: 124 & TP 2: 122.8. It seems that we have some more potential but there is also an increased probability of pullbacks towards EMA 50 4H or EMA 200 Weekly (both around 128). If we see the pullback I close the position and re-enter the trade with full position at this level.
Comment:
Still waiting to trigger the button
Trade active:
Trade was triggered at 2 PM UTC+2 @ 126.50. Sorry did not manage to update the trade in time.