Almost An ED with Measured Moves Plays a Dangerous Game ???

FX:USDJPY   U.S. Dollar / Japanese Yen
1112 33 9
Not sure you can call this an Ending Diagonal if it's
in a parallel channel , and it's difficult, at best, to
see the 3 wave subdivision in each leg but, it sort of fits.
Trying to hit the top, of course, can be a dangerous game
and usually just lucky if you succeed ~~~~~
Guess I'm feeling lucky, but not without caution
with hard stops and an alert for the candlesticks
to provide a trigger for my entry.
Was never a good entry point :)
dojitrader Trading_Accuracy
Why ?
Without benefit of hind sight, what would have been better ?
Granted, the over throw of the Gold trend line was much more
than I had anticipated, the 1.618 area of the two waves has given the
market "pause" at least for now.
To me it looks like I just did not place my stops very wisely for a
market that was/is in almost a parabolic blow out.
So, don't hold out on me. I'd much appreciate sharing your
thoughts on where a better entry point would have been placed
and why, too.
Thanks for your thoughts !!!!!!
JPY behavior in past weeks was my concern , anyways every trader has his own views and ideas , Individuality is the key :)
never ment to criticize , just an opinion mate :)
dojitrader Trading_Accuracy
I'm always looking to learn ~~~~
Can you be more specific about your concerns for JPY behavior ?
Thanks again !
The good news: The candlesticks saved my butt. There was an
evening star that almost formed around 000 GMT, but it failed in
the last 10 minutes or so, called it a day.
The bad news: A reasonable shooting star formed at 700 GMT
while I was sawing much needed Z's.
As should be expected this turned out to be a good study
in the "luck" that is usually needed to pick a top.
A re test of the highs or a B wave may trigger a short
entry more worthy of consideration.
+1 Reply
So far the candlesticks are offering NO HELP !
I'm still standing aside ~~~~~
+1 Reply
andrewpodolak dojitrader
ok thanks for the advise let me know when you think your going in this has cost me a lot but we all know thats life so i will grin an bare it
I wouldn't dare to call this top. This market is in some super uptrend. All buying it and there is no sign of stopping. Not just yet.
+1 Reply
JeepsonTrading PRO HumbleTraders
Good call
Gino HumbleTraders
Any bad news that trigger risk aversion, it's going to be a 300 pips drop :-)
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