ErikXuanYan
Short

USDJPY EMA cross then pull back, shorted

FX:USDJPY   U.S. Dollar/Japanese Yen
80 7 4
UJ is quite low already so I am very careful with this trade.

the down trendline here is subject to change.

however, tp/sl is set on this trendline break and close above
Trade closed manually: closed yesterday at breakeven as there was not a downtrend, however look at the beautiful drop today!
Nice work...
snapshot

Looks like broken channel in 1H and Evening star candle formation in 4H all points to downtrend.
Reply
ErikXuanYan PCTradeKop
very nice!! good luck my friend!
Reply
Hmm.. how likely is EURUSD and USDJPY to move down at the same time since you have shorted both pairs.
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haha i was asking myself the same question, it is however as likely as when the brexit happened i guess. The techicals for both based on my strategy is a sell, fundementally speaking usd is stronger than euro, yen is stronger than usd. there are full of contradictions in trading forex, to make things simple, u can think of this as me headging
+1 Reply
oh yes one other thing forgot to mention, the EU short is a long term trade where the UJ short is just short term:)
+1 Reply
MoLee ErikXuanYan
I figured that somehow they will both dwell at a common area that is profitable to both pairs before moving away from each other with the USDJPY heading up and EURUSD continuing down :)
Reply
that is indeed a good point:)
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