Guaranteed This Move Sucked In Shorts

FX:EURJPY   Euro / Japanese Yen
EUR/JPY             just cleared long protective stops from the last 5 hours.
Appearance of a trendline break most likely also suckered in fresh shorts.

Watch for this to run up to the 136.18 area, that is 50 pips up from our current location.

**5/20 update: this long call was only good for 20 pips, never made it to the 136.18, and monster 100+ pip short bar took all traders by surprise. This is the first target we did not hit to the pip in 30+ days (was still a profitable long).
We were able to get a few mixed trades since this one, are short now, looking for 134.00/133.93 as target, and have limit longs sitting around the 133.77 area for move back up to 135/136's.**

this is what i was talking about last week:

i'm curious to see whether or not mr market will reach the targets identified on my chart. we'll. good trading all. :)
EURObull isomorph
Great call, and projection! We were looking for a little pop (to the 136.20 area before taking this powerful pullback, just never got up that high.

Market looks stable and should continue back to our 137 to 140 areas.
isomorph EURObull
now the questions is.... is it gonna find support here at the TL and go all bullish on us, or just retrace that down-move a bit and take a deep breath before the next plunge?

could you please explain why you say 'should continue to our 137 to 140 areas'? i honestly don't see any information on the chart that would indicate the market is poised to go that far up. what exactly are you looking at? am looking at daily and on up and it's all a no-go for now.
EURObull isomorph
You must have read my mind. I was going to post a message to tell you that we're headed back up from here. Yesterday's strong pullback caught many traders off guard, those both long and short. It accomplished 3 things:

1.) shook off most longs late to the party
2.) cleared stops under the 5/13/2015 lows
3.) sucked in fresh shorts

As mentioned before, in observing the quirky habits of EUR/JPY over the last 5 years, it flashes certain market "tells" which gives true direction, even when we face 100+ pip shakeout moves like overnight.
isomorph EURObull
what about the bearish div on CCI on daily and the broken CCI TL also on daily? do we just ignore it?
EURObull isomorph
The CCI has been chopping above and below on the 60 minute chart quite a bit, and on our 240 chart, it is holding nicely. I will be posting a 240 chart soon. I will need to analyze our daily chart to see, thanks for the heads up!
EURObull EURObull
We dropped just over 100 pips from the Daily CCI trendline break. Looks like they're setting up to test the lows again. Had a nice 60 pip short from pre news today. They could easily blow stops and hit some lower levels around the 133.70 area before getting back on the long train again.
EURObull EURObull
Also have major bullish div on our 240 chart. Were you able to grab some pips from these shorts?
isomorph EURObull
not from EJ. i don't play with $ when i am not familiar with the instrument, especially when it's been only 2 weeks or so that i am watching a pair. i'd feel a lot more confident if, like you, i had learned the behavorial quirks of EJ, or for that matter, GJ. in general, i stay clear of Yen crosses, even UJ. there is something odd about them in terms of how they move and form patterns. i also noticed that on some other crosses, for ex GBPAUD or GBPCHF, my system doesn't filter out the excess noise these pairs generate usually. so i play the majors more as PA is smoother when filtered through my system and the technical patterns play out as expected most of the time. but sometimes i don't listen to my own advice (and that's when i get burned!) and do take more risk by letting myself be lured in by GBPCAD, GBPNZD, EURCAD, EURNZD, which i all shorted at the beginning of this week 1 day too early for a hefty profit. perhaps i just got lucky ;)

but i wanna go back to what you say re the time you spent studying EJ because i think that is indeed a key point for anybody reading this. it reminds me of my thought process as well when i was going through the growing pains of becoming a trade. one day it dawned on me that the ccys, as they unfold in time, are actually telling a story. and so our task is not just merely identifying turning point patterns, but being able to read the story the ccys are telling. this provides us with an insight that goes beyond mere technical analysis. and only a lot of time spent in front of the screen will unlock this secret chamber. ;)
EURObull isomorph
Perfectly phrased Iso, it would be great if many traders view this post, the dedication and commitment makes successful trading a reality!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out