michael6malone
Long

I am going long to 101.25 with a stop at 100.45.

FX:USDJPY   U.S. Dollar/Japanese Yen
38 2 2
5 months ago
2016Sep22 I am going long to 101.25 with a stop at 100.45.

The pair has just retraced to the 38.20% fib level and will likely come very close to the 61.80% fib level (to the left) on their climb up.
5 months ago
Comment: Be sure to move your stop up. If worse comes to worse you will not lose money. I generally move my stop so as to make at least a little money in case the trade fails.
5 months ago
Comment: Well, the trade made it to 101.24 which I will take as a win since I moved my stop up. It could still reach 101.25, but I think it unlikely since the RSI is in an oversold state.

When the pair nears the target and the RSI indicates an oversold or overbought condition I pay close attention to the 5 min. chart. In this case there were no less than 3 bearish candles. if you are still in the trade I would advise you exit now and take whatever profit you have.
eihab
5 months ago
Nice, thats exactly what I did. Entered a little later than you but it was a decent profit thanks eh
Reply
michael6malone PRO eihab
5 months ago
Fantastic! I am pleased to hear it.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out