The chart above explains. A lot had happened since the previous chart and now we can see things more clearly.
For those with patience and foresight, you would have reaped huge gains when price make its way up. Now we try to trade price on its way down.
While we need to know the WHEN and the WHERE. We also need to know the HOW. Things are different with price moving UP (we SELL) and price moving DOWN (we BUY). Here with USDJPY, price is moving up. We can see the important lines.
Now we also wait. We wait for price to move and CLOSED below 139.45. You should know where to place the SL. Repeat as necessary. It is either price FLY ABOVE or DROP like a stone.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
For those with patience and foresight, you would have reaped huge gains when price make its way up. Now we try to trade price on its way down.
While we need to know the WHEN and the WHERE. We also need to know the HOW. Things are different with price moving UP (we SELL) and price moving DOWN (we BUY). Here with USDJPY, price is moving up. We can see the important lines.
Now we also wait. We wait for price to move and CLOSED below 139.45. You should know where to place the SL. Repeat as necessary. It is either price FLY ABOVE or DROP like a stone.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
Comment:
Lets bring out the champagne :)
Comment:
It seems I celebrated too early.
Now US02Y is moving up a lot and is now sitting at a very important location. If it breaks above, then we can see more volatility.
Price had just bounced from the higher D. This is a good sign, as the price is still respecting key levels. But we still need to wait for it to fall back into the trading range. But the wait would not be long :)
Now US02Y is moving up a lot and is now sitting at a very important location. If it breaks above, then we can see more volatility.
Price had just bounced from the higher D. This is a good sign, as the price is still respecting key levels. But we still need to wait for it to fall back into the trading range. But the wait would not be long :)
Comment:
141.50/62 :)
Comment:
Perhaps if we look carefully, if price we do close ABOVE 140.73, then it can really go VERY HIGH UP.
Can you see the reason? Quite obvious, actually.
141.50/62 and 142.25/50 are actually 2 areas where it might turn. To trade it, we can use a tight SL. Otherwise, you'd better wait for it to fall below 140.73.
Can you see the reason? Quite obvious, actually.
141.50/62 and 142.25/50 are actually 2 areas where it might turn. To trade it, we can use a tight SL. Otherwise, you'd better wait for it to fall below 140.73.
Comment:
Here it comes.
Wait for it to drop below 139.33.
Then wait for pullback.
Then SELL :)
Wait for it to drop below 139.33.
Then wait for pullback.
Then SELL :)