FX:EURJPY   Euro Fx/Japanese Yen
98 1 0
With rallying, Dollar up , A good risk off trade is selling the euro             against JPY. The 3 Hour shows an ending of a fourth wave at around 50% of wave iii             measured from wave ii which is with in the Fibonacci re-tracement zone that wave fours characteristically retrace. The sell trigger is just below the one bar low and stop loss is just above the wave ii low where the wave count would be invalid. Selling two units and initial take profits is 140.50 where wave i=100% of wave v a Fibonacci extension that gives a good price target that usually hits as well as the sign that wave v would qualify as such passing the wave iii             low.
The trade work out well with a 100 pip gain on 2 units or lots. Did not have to adjust the Take profits as I closed both units at the price target mentioned above. Any comments are appreciated.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out