dojitrader
Short

Enticing Reward For Little Risk

FX:USDJPY   U.S. Dollar/Japanese Yen
274 9 0
Still like the Ending Diagonal first published by traderWgun several days ago:
Double top didn

Slightly fine tuned and the 5th wave is a little hard to see the 3-3-3 internal
wave structure, yet, the classic 5th wave trend line overthrow has occurred.
BUT, for only 30 pips or so of risk the possibility of 250
pips of total reward is very enticing pattern to me.
I'm thinking it will hit the trend line again and reverse, even though
my ideal entry is 104.48 - a little higher.
104.22 or so might be a better entry as that would be the .618
retracement from the recent high to swing low.
As always the candlesticks might give us a good entry trigger.
Coming right in the middle of holiday celebration might mess the
harmonics/symmetry up a little bit.
MERRY CHRISTMAS ---- !!!!!! TO ALL
dojitrader
2 years ago
Having thoughts of a possible entry zone between 104.22 and 104.48, decided to split the difference and placed a limit order
for 104.35 for 1/2 my usual trade size and found some sleep. Looks like I got lucky and the entry was also a hit against the trend line. Perhaps the opportunity to enter another 1/2 will present itself after Santa comes.
Being a holiday period I could see this hitting under the trend line for several bars before it gives to
the down side.
Reply
tntsunrise TOP dojitrader
2 years ago
MERRY XMAS! TRADER! good luck
Reply
traderWgun
2 years ago
I don't think the market is doing and ending diagonal anymore.
But my count suggests that a top could be near.
snapshot


daily showing bullish momentum is fading:
snapshot


short term it could see another high.
snapshot


This is my xmas present to you I guess. Happy holidays ;)
Reply
dojitrader
2 years ago
I'd be the first to agree it's a tough count to make this fit in the larger degree out of the triangle, but, it has that classic
look to me and is such small risk to find out if I'm wrong - for a large profit - I'll give it a try and I'm short from
104.35 with stops above the recent high.
If we get the 3 wave a-b-c that you suggest in your shorter term chart, I'll definitely move stops
or just close the trade without any indication of impulsive action.
As always I appreciate your insightful analysis !!!!

(If I may ask ---- what I really want for xmas is to know how to embed charts in the comments section
like you do ?)(probably a help file I have not spent the time to find, yet)

Merry Christmas To All and To All A Most Profitable New Year !!!!!!!!!!!!!!!!!!!
Reply
traderWgun dojitrader
2 years ago
It's really easy.

You open the chart and click the green button which looks like a camera in the bottom right.
You copy the image URL, it should be named something like this.
snapshot


Go then to the idea you want to post the charts on and go to comment and click the small white/grey button in the top left corner that looks like a chart. plast the Image URL that you copied and click insert. Done!
Reply
traderWgun traderWgun
2 years ago
sorry top right coner, not left.
Reply
Rogelio
2 years ago
Wait today for JP Nov CPI, maybe that could trigger the selling... higher inflation is expected
Just before Tokyo open today...
Reply
dojitrader
2 years ago
Aha !!!! "insert Chart" button that's the part I was missing. Thanks traderWgun for the tip
on how to add charts.
Reply
dojitrader
2 years ago
Maybe I should have tried it again . . . but was sleeping, of all things.
Anyway, I stand corrected by the market.
snapshot
Reply
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