ForexWeeklyAnalysis
Long

Pending Long USD/JPY mid 101.XX Region

FX:USDJPY   U.S. Dollar / Japanese Yen
107 14 1
Given that my other entry region didn't quite work out, the mid 101. XX             region will be a place to look for possible long entries.
Consider exiting if price closes below trend line AND below mid 100. XX             region.
Target 1: 103.7X region
Target 2: mid 105. XX             region

RR: 100 pips risk for 200 to 370 pips rewards
btw. good work here, I went out two days ago at 101.75, I feel really uncomfortable in jpy pairs and I will not try again in near future. I went out with loss, but just few dollars, because good buys at 101.30 area.
Reply
I'm still holding mine from 101.35, I plan to hold it at least until 103.7X or maybe even 105.XX. Since I only have 1 entry on this account now, I can only exit once but on my other accounts, I have multiple entries so I'll be sure to take partial profits on the way up. In the event that price moves back down (which I doubt), I have stops at 101.50 to lock in 15 pips profit (when I'm not watching it).
Reply
ForexWeeklyAnalysis ForexWeeklyAnalysis
Update: I'm still following my plan from 2 days ago, my SL is at 101.50 (BE+15). Price did drop some on Friday but that was mainly from Japan being on holiday, bulls defended the low 102.XX region, so I'm fairly confident with this trade right now. BUT that's not to say you guys should take fresh positions at current prices, I'm already protected because I got in at 101.35 so my risk is minimal compared to entries at the current price.
Reply
Considering the only reason why I'm tracking my account on myfxbook is to count pips/performance, I've decided to exit the bulk of my position and just keep my best entries: 1 long on USD/JPY at 101.35 and 1 short on NZD/USD at 0.8600.

I originally wanted to showcase my entry management tactics (partial entries) but I don't like the way myfxbook displays pips, it shows pips per order not position. So if 5 orders are down 50 pips each, it shows -250 pips instead of -50 pips. So from now on, I'll just stick to getting in with one order per entry region (I normally do 4-5 partial entries per entry region).
Reply
itaskar ForexWeeklyAnalysis
I like your partial entries, before using it I missed many trades, because it didn't reach my zones, now I am always in. In my opinion you should use it like before.
Reply
I'll take it into consideration but for now, I've already made my decision. You're welcome to use partial entries on your own, just add a buffer zone onto each entry region.

For example, the entry region on USD/JPY was around 101.5X so you can start loading at 101.8X down to 101.2X (I went in at 101.8, 101.65, 101.5 and 101.35; 101.20 didn't hit due to the spread).
Reply
Will see the opening, but I expect drop to 101.00 where will I put some longs with target 102.00 there will I close all my positions. There is light hidden divergence, so move up is possible but there is to strong resistance area to go higher I think, we have got LLows now, so I expect LHighs.
snapshot
Reply
itaskar itaskar
then I will looking for longs on the longterm trendline 100.XX
Reply
itaskar itaskar
Sry, I was wrong with the LL, it is in the same line. So, may be move up from here, anyway I will close it around 102.00, because I dont know whats going on here.
Reply
LL is only followed by LHs in a trend, like in a downward channel, so you have to ask yourself are we currently in a channel or about to form one?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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