Long to the top of channel after crossing SMA50
As soon as I don't know how the dollar will react to situation in Syria, I will play with the idea I was playing earlier.
At march 23rd price jumped from the bottom of channel and entered short-term uptrend. I really like to play situation like this, and up to now it is my most profitable strategy.
I think we are somewhere in the middle of this uptrend, and grow should continue during next few weeks - of course if market wont react with panic to news from Syria. If yes, it will be probably good opportunity to buy for better prices. If $USDJPY continue its growth, next correction could be somewhere near SMA100. I saw corrections there on that pair, so even the statistics suggests, that there is quite big probability that will happened there.
My game plan is to buy more on corrections and then buy again if our chart will cross SMA100.
At march 23rd price jumped from the bottom of channel and entered short-term uptrend. I really like to play situation like this, and up to now it is my most profitable strategy.
I think we are somewhere in the middle of this uptrend, and grow should continue during next few weeks - of course if market wont react with panic to news from Syria. If yes, it will be probably good opportunity to buy for better prices. If $USDJPY continue its growth, next correction could be somewhere near SMA100. I saw corrections there on that pair, so even the statistics suggests, that there is quite big probability that will happened there.
My game plan is to buy more on corrections and then buy again if our chart will cross SMA100.
Comment:
Of course we need to remember, that JPY is currency that investors find safe, so if something happens in Syria we will see investors escaping USD to JPY, which will make us to redefine our game plan.
Comment:
Sunday is the day I plan trades for next week. I will definitely keep my long positions on USDJPY.
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Existing-Home Sales 5,6M vs 5,55M predicted. Good news for USD today.
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www.youtube.com/watch?time_conti...
"one good trend pays for them all" :)
Longs on USDJPY made a lot of money, but we should "ride that trend right to the end"! :D So I set up trailing stop-loss.
"one good trend pays for them all" :)
Longs on USDJPY made a lot of money, but we should "ride that trend right to the end"! :D So I set up trailing stop-loss.
Comment:
We hit SMA100, so I think there is possibility to go down. It shouldn't end uptrend, but in trading we always have to be carefull.
If price will go down, I will close my positions (I have set trailing stop-loss to protect my profit) and when it will cross SMA100 I will buy it again. In this case I will be very carefull with my trading, because there was two situations that price crossed SMA100 and it dropped to the channel bottom. From now risk management is crucial.
If price will go down, I will close my positions (I have set trailing stop-loss to protect my profit) and when it will cross SMA100 I will buy it again. In this case I will be very carefull with my trading, because there was two situations that price crossed SMA100 and it dropped to the channel bottom. From now risk management is crucial.
Comment:
Important news today for USD: Consumer Confidence Survey and new residential sales. Before that news investors will probably behave conservatively, and we will not see any bigger move.
Comment:
I closed L positions after not very positive news. I will buy back on panic :)