USD/JPY Trading Plan - Pat Morita Patience Long

U.S. DOLLAR / JAPANESE YENICE

Description

⋅ Dec 15, 2015 10:00 AM

Very simply waiting on trend line 4th points to initiate long position as we hang around the 120 mark.

I got ripped up in Sep's volatility but benefitted from 4th point bearish trend line short that set up the head and shoulders pattern last week. Waiting on next dip to set up long.

Comment

⋅ Dec 15, 2015 10:28 PM

Rallied above 121.4 so looking for drop back down below 121 to tee up a long on a 4th point of the bullish trend line
(or above 123 to get short)

Comment

⋅ Dec 27, 2015 12:20 PM

Ended up getting short instead. Refer to PAT MORITA PATIENCE 2 (below)

USDJPY

Comments

Genghis

⋅ Dec 17, 2015 11:07 AM

Genghis

⋅ Dec 17, 2015 11:09 AM

Need to click on chart to clear all the text clutter

Genghis

⋅ Dec 17, 2015 10:53 AM

Looking for point 5 on bearish TL or point 4 on bullish to initiate trade.