BoonHooi
Long

USDJPY - Type 2 re-test

FX:USDJPY   U.S. Dollar / Japanese Yen
The USDJPY             completed a Bat earlier this week. Now it has come back to the PRZ for a type 2 trade

Trade execution
Looking to go long depending on the reaction to the Bat PRZ
We are now at the zone

Stops should go below the 110 levels.
Note : when the type 2 trade works out, the move can easily be further than the Type 1 trades
Trade active: Too the trade as it was leaving the PRZ at 110.488.
Stops at 109.80, below PtX
Trade active: Drew a profit trendline, will close the trade if price falls back below for a small loss. Else this move should have the strength to go beyond the recent high 111.45

Comment: Just saw this bearish Gartley terminating at 111.70.
This can be a target for this current long trade

Trade active: USDJPY dipped 80 points after the missile strike on Syria.
I am still in the trade but now at slight loss of less than 10pips

http://economictimes.indiatimes.com/markets/forex/dollar-slips-vs-yen-after-us-launches-missile-strike-on-syria/articleshow/58058556.cms
Trade closed manually: Closed of the trade with a small +10pip profit.
Didn't like the trend line support turning into a resistance (see attached chart)
Moreover NFP tonight, so taking the risk off the table.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out