The chart above explains.
If you happen to be one of those who is looking to sell because the price action says so, my advice is you better be careful.
Why??? Perhaps you better look at the latest COTR.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
If you happen to be one of those who is looking to sell because the price action says so, my advice is you better be careful.
Why??? Perhaps you better look at the latest COTR.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
Comment:
The second location is 140.50 - I am trading this.
This should be the second/final one, failing which we would need to wait to see what happens next.
Good luck.
This should be the second/final one, failing which we would need to wait to see what happens next.
Good luck.
Comment:
Let's hope our luck holds up :)
Comment:
I think many traders here would be feeling dejected. This is when things get complicated. Many would change their trading direction. Why not SELL - just look at the price action. Anyway, it is true that IF I had SOLD earlier, I would have been making some money by now. But I also did not lose money on my buys.
The important question is, what drives your trading direction? Is it price action or fundamentals? This is why I say things get complicated here. And if you ask me if I still plan to BUY? The answer is YES.
Why? Here is the WHY:
1) FOMC is 2 weeks away, as of now, the probability of a hike is 93%
2) COTR is not in favor of JPY - very unfavorable.
3) today is CPI day. According to Cleveland, June YoY may show a slight decline. But the surprise is MoM which remain HIGH. And if this is so, the July YoY would be a killer. Not only will the Fed raise 25bps this month, but also in September as well. And most likely would impact the September dot plot. Whatever it is, Core CPI is forecasted to remain HIGH - above 5% which is unacceptable to the Fed.
And why you should NOT SELL now - it is already too late.
Know that there is no certainty in what we do, just probabilities.
Good luck.
The important question is, what drives your trading direction? Is it price action or fundamentals? This is why I say things get complicated here. And if you ask me if I still plan to BUY? The answer is YES.
Why? Here is the WHY:
1) FOMC is 2 weeks away, as of now, the probability of a hike is 93%
2) COTR is not in favor of JPY - very unfavorable.
3) today is CPI day. According to Cleveland, June YoY may show a slight decline. But the surprise is MoM which remain HIGH. And if this is so, the July YoY would be a killer. Not only will the Fed raise 25bps this month, but also in September as well. And most likely would impact the September dot plot. Whatever it is, Core CPI is forecasted to remain HIGH - above 5% which is unacceptable to the Fed.
And why you should NOT SELL now - it is already too late.
Know that there is no certainty in what we do, just probabilities.
Good luck.
Comment:
Price is now at 139.40/50.
As we all know, this is the POC and also a possible 50%.
We all know how this FX pair likes 50%.
Do you think a BUY here with a SL at 139.30 can work?
Good luck.
As we all know, this is the POC and also a possible 50%.
We all know how this FX pair likes 50%.
Do you think a BUY here with a SL at 139.30 can work?
Good luck.
Comment:
Comment:
Comment:
Moving SL to entry.
May the FORCE be with US.
Good luck :)
May the FORCE be with US.
Good luck :)
Comment:
One last comment for this IDEA.
The reason I shared this was because of one important trading 'secret' that many NEW traders do not understand - PRECISION. Common sense will tell you why. It is only with precision up to +/- 10pips that we can SURVIVE this game. It is obvious. Without precision, we can not set our SL. If we can not set our SL, we can not have an advantageous R/R.
So now you can compare this to FOOLS who like to count 1-2-3-4-5-A+B+C. So you see, this is one of the way they want to ensure that you LOSE money. When you LOSE, they WIN.
Here are two more things to bear in mind:
a) Always be FORWARD looking. The casinos through the MSM would NOT want you to know this. This is why they lead you astray with backward looking tools like indicators - which tells you what happened in the PAST but NOT the FUTURE.
b) Economic fundamentals tell the future, not FX indicators.
Good luck.
The reason I shared this was because of one important trading 'secret' that many NEW traders do not understand - PRECISION. Common sense will tell you why. It is only with precision up to +/- 10pips that we can SURVIVE this game. It is obvious. Without precision, we can not set our SL. If we can not set our SL, we can not have an advantageous R/R.
So now you can compare this to FOOLS who like to count 1-2-3-4-5-A+B+C. So you see, this is one of the way they want to ensure that you LOSE money. When you LOSE, they WIN.
Here are two more things to bear in mind:
a) Always be FORWARD looking. The casinos through the MSM would NOT want you to know this. This is why they lead you astray with backward looking tools like indicators - which tells you what happened in the PAST but NOT the FUTURE.
b) Economic fundamentals tell the future, not FX indicators.
Good luck.
Good luck.