dojitrader
Short

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.
just about to place my own short idea on this one ;)
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Hi there

Well explained could you please do a chart on the USDOLLAR

Would be great and appreciated

Regards

Andrew
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JeepsonTrading PRO andrewpodolak
FYI I'm anticiapting a short if the resistance holds on my day chart - https://www.tradingview.com/e/dkT6N2wM/
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andrewpodolak JeepsonTrading
I agree its crazy the only thing is if the US housing Building permits come in hard it could still run but i think sell on the news Housing application is a good indicator

Regards

Andrew
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JeepsonTrading PRO andrewpodolak
I'm now shorted just going to scrape 25 pips TP and my SL is 12.5 pips.
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andrewpodolak JeepsonTrading
Good Luck
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JeepsonTrading PRO andrewpodolak
Not worked out this time - will keep an eye on it though and get ready for another Short when reversal confirmed.
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andrewpodolak JeepsonTrading
Yes i got stop to but i short again at a higher rate and a bigger stop Dangerous to say the least
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JeepsonTrading PRO JeepsonTrading
Price has broken through resistance - now a Long trade...
Jeepson Trading // USDJPY // Long
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andrewpodolak JeepsonTrading
Yes thats right that was costly last night I have to learn the trend is your friend and not to go against the market I think i will get a small sign made and put it in front of the screen
+1 Reply
JeepsonTrading PRO andrewpodolak
I definitely jumped into the sell too soon, trying to pick a Swing Top before it has formed is a lesson I seem to learn over and over - lost 50 pips :)
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andrewpodolak JeepsonTrading
Don't worry your not alone there
+1 Reply
andrewpodolak JeepsonTrading
do you use Skype
what your number
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JeepsonTrading PRO andrewpodolak
Hi I don't have Skype but feel free to contact me on Twitter - I am in UK so my trading times may differ to you - I'm just wrapping up for the day it is 11pm here :)
https://twitter.com/JeepsonTrading
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andrewpodolak JeepsonTrading
I will it 10am here and off to bed for me too
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dojitrader andrewpodolak
I'll see what I can see
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dojitrader andrewpodolak
An interesting study. To my eyes the dollar index is somewhat cloudy Elliottwave count.
The alternate count is supported by the daily chart which calls for at least one more new high
before it corrects down to around the 85.00/84.00 area. I can also see a couple of other counts
that call for a much more complex corrective price action before the new high hits.
Thus a cloudy picture at the moment and a low confidence count until price tells us more.
snapshot

thanks for the question !!!
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andrewpodolak dojitrader
No thanks for do that much appreciated

Regards

Andrew
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I am still long and about to flip
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Some support for the idea, however, I also see an alt count that would
be a 5th wave extension and beyond.
snapshot
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andrewpodolak dojitrader
Yes I see it now thank you
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andrewpodolak dojitrader
if the Fed disappoints and they may not be so hawkish this will drop like a rock from a skyscraper.
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dojitrader andrewpodolak
Let's hope we're short when it happens ~~~~~~
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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
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Gino HumbleTraders
Any bad news that trigger risk aversion, it's going to be a 300 pips drop :-)
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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
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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
Was never a good entry point :)
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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 !!!!!!
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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 :)
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dojitrader Trading_Accuracy
I'm always looking to learn ~~~~
Can you be more specific about your concerns for JPY behavior ?
Thanks again !
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