Baruch's Forex System Journal

[Guardian Angel]

Quote from rax:

why not go long usdjpy, eurjpy? the long term trend would be with us. maybe the drop today is buying opporunity?

hi rax,
going long is also a possibility but according to the 4hr chart we have just crossed the 2 major support levels and that does not bode well for a bullish position. however, i do have my stochastic oversold but mkt has not yet gained any ground on the momentum indicator.

 

[Baruch]

Quote from Guardian Angel:

but i was wrong though on the 114.56 buy trigger.
i would have gotton stopped out on that one.

it is most telling / these price triggers located within the 4hr chart.
that is where i got them.

OK, but you would be short from 113.85?

 

[rax]

im long eurjpy, usdjpy

 

[Baruch]

Quote from rax:

im long eurjpy, usdjpy

Good luck. From where?

 

[rax]

eurusd looks like bouncing back down from 68% retracement level of the upmove form 1,175x to 1,218x

 

[rax]

Quote from Baruch:

Good luck. From where?

since quite a while ,
usdjpy from 113,25
eurjpy from 136,18

looking good at the moment, +20, +11

 

[rax]

Quote from rax:

since quite a while ,
usdjpy from 113,25
eurjpy from 136,18

looking good at the moment, +20, +11

i should have posted it right away, for credibility.

i will do that next time.

 

[Baruch]

Quote from rax:

i should have posted it right away, for credibility.

i will do that next time.

We trust you - of course. Where do you place stops?

 

[rax]

Quote from Baruch:

We trust you - of course. Where do you place stops?

for usdjpy rather a rather close stop,
eurjpy rather wide.

 

[Guardian Angel]

Quote from Baruch:

OK, but you would be short from 113.85?

right but remember the 114.56 long got triggered 1st so i would have been stopped out at a loss on the long position but i would be up on the short from 113.85.

unfortuneatly i didnt take either position and i have to run out now so i will post again later.