Le_Chiffre_
Short

SELL USDJPY 120.40 Risk Reward 1 for 5

FX:USDJPY   U.S. Dollar/Japanese Yen
696 24 4
Sell // second sell 119 stop 119.50
Congrats for the ones who followed the advice ;)
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Recluse82 Le_Chiffre_
2 years ago
why, your tp is far far away, this is still nothing...
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Le_Chiffre_ PRO Recluse82
2 years ago
Hi, thank you for your comment. The pair made a lower low ( 16dec) and a lower high (23 dec) for the moment. It is then logic to expect the last low as a target if the pair does not violate its last top. However, if i see a reversal before my target i will of course consider to close earlier. I'll update my idea in case I decide to close it and explain why. And if the Renko indicator remains short at my target, i will also consider to keep the trade. I widh you loads of pips
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Le_Chiffre_ PRO Recluse82
2 years ago
The other confluence is that the market moved downward faster than upward which leads to the conclusion that the market is more short than long. When I say "if my renko remains short"( in blue), I ,of course, assume that It will become short by going to my target. Indeed , for the moment, on H4, the indicator is long.
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Recluse82 Le_Chiffre_
2 years ago
but i think stocks wont fall hard, this is just a tiny correction for higher levels, unfortunately
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Le_Chiffre_ PRO Recluse82
2 years ago
two people with opposite thinking can still make money at the same time. I saw a lower high and a lower low and got in it. This does not means that I am right. This does not mean that I wrong neither. It just means that I saw a larger reward than my risk. In your post you assume that stocks and USDJPY are correlated. It is true for the moment but if you take a look on a longer timeframe the correlation has also been negative. I ll keep you up and wish you success
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gabriel0352
2 years ago
Looks like a good setup; on 15 minute you can see pair moved down and retraced right back to 50% Fib level; currently sideways letting off oversold. Thanks for spotting this!
+1 Reply
Le_Chiffre_ PRO gabriel0352
2 years ago
Thanks for your comment. You are welcome. I hope to be right and provide you useful insights in the future
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Hi all, little update. Average entry 120.42 stop 45 pips so a gain of 0.5 my risk so far.
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Recluse82 Le_Chiffre_
2 years ago
the dollar doesn't want to exhaust
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Le_Chiffre_ PRO Recluse82
2 years ago
I am now at a gain of 1.5 my risk
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nonobeijing
2 years ago
Interesting. It seems that most people think it will go long. I found a bat pattern which indicates, like you charlythibault, that it may well go down (a long stretch). (see below)
USD/JPY Bat pattern indicating a bearing trend.
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Le_Chiffre_ PRO nonobeijing
2 years ago
Hey, I am very happy about this trade.

For me there was no question about going long because the market was showing weakness before reaching the last low . This is a reversal pattern. My target is 115. Your 108 is pretty far but I will consider it if my Renko remains short at 115. Thanks a lot for your comment and have good trades!
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nonobeijing Le_Chiffre_
2 years ago
No problem. But we have to be careful. I see that Ichimoku on a daily chart indicates rather an uptrend than a pull back. So I have some doubts...
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fist target hit. Looking for the next oneat 115.50
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Recluse82 Le_Chiffre_
2 years ago
go go :)
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Le_Chiffre_ PRO Recluse82
2 years ago
thanks mate ;)
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Recluse82 Le_Chiffre_
2 years ago
but i wish to be seen much lower prices around 100 would be nice
i like 4xforecaster's analysis :)
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Le_Chiffre_ PRO Recluse82
2 years ago
if 115 is broken 110 is the next target, then105, then 100.The USD index looks ugly, I wouldnt be surpised to see 100. If I do not see a strong bulllish reaction on 115 I ll keep my trade
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Recluse82 Le_Chiffre_
2 years ago
usd index is overstreched but doesn't mean anything it can go higher when it will
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Le_Chiffre_ PRO Le_Chiffre_
2 years ago
first... sorry for the typo...
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made a second sell at 119, stop 119.50
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Recluse82 Le_Chiffre_
2 years ago
stopped.out?
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Le_Chiffre_ PRO Recluse82
2 years ago
Yes for the second one. Part of the game :)
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