Technician
Long

USDJPY: Yeah, Stopped-out and Going Long Again

FX:USDJPY   U.S. Dollar / Japanese Yen
2835 25 23
My previous long on USDJPY             was stopped out on today's spike down. However the price retreated again higher, found strong support and formed a hammer candle with a major lower shadow..The USD continues to show renewed buying demand across the board.
I have to admit, It's mentally hard to re-enter on the same pair after being stopped out. However, challenging your emotions for what you see is necessary to remain on top shape as a trader..

Wish me luck on this one, wasn't an attractive week.

Be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you

Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/+Thefxchannel0
My best regards
Technician
MEGA 70% DISCOUNT ON 3 AND 6 MONTHS PACKAGES . Get it before offer expires : https://thefxchannel.com
goodday technician! i just want to ask how to set 50day sma?
Reply
I am with you on this, looking bullish now after I was kicked out of my other jpy shorts
Reply
I agreed and waiting to buy . ^^
Reply
Wht can i do? Pleaee advice me buy or sell, i was sell 3pip 118.74?
Reply
Technician is long , however I´m short . If you are in the short side, place the stop @ 119.51 and see what happens. If you can´t sleep well because of this position, you are using a big lot size. Trade small .

Hope it helps
Reply
Another view to adjust stops, it looks like a bearish pattern forming
snapshot
Reply
Hi Technician, Could you please explain the rejection between your graph and my graph. I think my graph still rejection with SMA 50 because the previous forth candle was rejection but then the three candle make me not sure the rejection.
snapshot
Reply
Technician PRO note.natrong
Hi, you talking about gbpusd in your image
-1 Reply
note.natrong Technician
Sorry, but I am confused the rejection concept. I wanna just know the concept.
Reply
Realisto_FX PRO note.natrong
Perhaps a higher timefame chart helps. Rejection candles are set in supply / demand zones. A supply level where market participants place offers , and a demand level where market participant place bids . A pin bar shows a rejection of the market to set below / above certain level.

In the case of Technician USDJPY trade, the market rejected bearish continuation by placing bids around 118.5. In your case , there´s a clear case of indecision where you find buyers and sellers (so market is in consolidation). My recommendation is to sit on the sidelines till there´s a clear breakout.
snapshot
+2 Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
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