UPDATE #1:QUICK ANALYSIS: USDJPY: Scenario #1: Triangle (+172)

FX:USDJPY   U.S. Dollar / Japanese Yen
445 9 10
Before the FOMC, I had posted 2 possible Scenarios that this pair could follow. This scenario has now played out perfectly despite the FOMC. If you had followed this scenario, then this is the result you would've had.

Buying at 120.460 prior to the FOMC, prices went up from there, completed the bearish cypher , reached EXACTLY up into the upper TL of the triangle and then took a nosedive right down to the bottom TL of the triangle and is now consolidating there. Both these trades combined has yielded +172 pips so far. The BUY trade yielded +52 pips and the SELL trade upon the completion of the cypher and the triangle so far has yielded +120 pips.

Although I had not the chance to update anything prior to the FOMC and post it here, I had closed the LONG trade prior to the FOMC and set a SELL stop at 120.900. I did this as a precaution following this scenario. So now, I am SHORT on this pair and will be holding this SHORT position as I am anticipating more downside to go in a wave 5.
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Nice job! I was in it as well with TP @ 119.50, however it looks like I left some money on the table...
This is a perfect structure/advanced pattern analysis you did there, that went perfectly. I also took this trade, but only the Cypher, since I missed the rest.
Thanks! It went well despite the FOMC. I say "despite" because all this analysis was done much prior to the FOMC. I get a lot responses from "fundamentalist" traders who question me as to the validity of my trades due to my lack of use of fundamentals in my analysis.
+1 Reply
Koryphaeen EverythingForex
This is the reason why I appreciate your view, because of the lack of fundamental "interference"... I also like the pure technical analysis, that is why I held my positions yesterday instead of closing them before FOMC. Keep on! ;)
FIDAGOHAR EverythingForex
sir ....we have faced some losses in the fomc yesterday because of our own inexperiance and fault.....No worry loss is part of the game....But we are desperately waiting for your publicly available paid service that i wish is affordable to us with a monthly subscription as well as i wish that it have an instant SMS notification system to its paid clients.....Thanks by the way can we expect the service in 2015 or later?
I appreciate that you and others are awaiting me to launch that service but honestly, I can't tell you when it will happen. I am hoping for sometime within this year or even in a few weeks time but I am not in a rush to launch it simply because I do not see it as a source of income for me. I make more than enough just trading and from my private clients group. I thought of launching such a service as a way of being able to help more people yet feel as if I am being compensated for my time. And I realize that it will take MUCH of my time to run and maintain that kind of service. That is why I do not open my private client service to the public as I need to be sure that I am giving enough attention to those that are paying me for my time as well as balancing time for my own trading. I do not want to start something where there are people who are paying me and relying on me to provide them with good information and I can't deliver because of time. So that is why I am not so fast to launch the service. But yes, when I do, it will be VERY affordable as like I said, it isn't something I would rely on for income.

I'll continue to post here on trades as I see fit to publish publicly and as I have time to do so. Thanks!
FIDAGOHAR EverythingForex
Thanks for your great service...We highly appreciate your great contribution....In fact with such a publicly available service the contribution will be on a global scale where the life of thousands struggling traders will be touched....especially traders from low income asian and african countries....The contribution into those lives cannot be contained in words in my opinion....I my self want to be of such a mega contribution in my life which give great peace to one's soul...So i have decided to learn from you and then impart the same knowledge further into thousands. May God help us all
Thanks for such praise! But personally, as much as I would like to help everyone and touch their lives in a positive way, I do not believe that if anyone is of low-income to the point where they are relying on what little money they have to just pay the rent and buy food to eat, that they should be trading at all! Should NEVER trade with money you cannot afford to lose! Unfortunate as it may sound, this business of trading is not for the poor. Too easy to lose money and if it's your rent money, you can't get that back! Also, it is IMPOSSIBLE to trade with a clear and free mind while knowing that if you lose your money, you cannot pa the rent or feed your family! It's too much pressure to be able to succeed in this business. But I would hope this isn't the case for you if you are trading with real money.

But it is also precisely one of the reasons that I would struggle with the proper pricing for any such public service I would provide. I do not want people who can barely afford to trade to join my service as I do not want to be responsible for anyone losing their house or not being able to feed their family because of a few bad trades! And there will ALWAYS be losing trades!

Well, good luck and hoping for the best for you and everyone!
+1 Reply
FIDAGOHAR EverythingForex
thanks for the advice you are right.....as for as i am concerned i am always trading with the money that i can afford to lose that is my savings from my nice agricultural and business income....
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