Daily EUR/USD trades
- Thread starter romik
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I have opened a new long position on JPY at 8700....
Good luck to everybody !
Good luck to everybody !
I had expected the 20 ma on the daily to hold but it didn't.
Quote from optionpro007:
I have opened a new long position on JPY at 8700....
Good luck to everybody !
I would expect 118 and possible 119 in the very near future in USD/JPY, based on that divergence set-up. I think daily upper Bollinger is ~119 or just under. Going long JPY future is perhaps different to shorting USD/JPY, I just don't know. I did pop a question regarding TA relevance between cash pairs and single currency future, somebody did provide an answer earlier on. I suppose if one expects JPY to rise the question is against what other currencies? GBP? EUR? USD? I had a brief look and European currencies do not offer long opportunities (IMO) vs JPY on their daily charts, but USD/JPY does feature a BLD in histogram on a daily chart, which has already taken it from lows of ~114+ to 116.80 current. So I assume if you see strength in JPY on a weekly chart, one obstacle on the way that perhaps can result in just a pullback is the latter divergence in the USD/JPY pair.
Quote from optionpro007:
I have opened a new long position on JPY at 8700....
Good luck to everybody !
If you pay attention to divergences, then you would have seen a BRD on a daily chart of GJY Z06. That makes a lot of sense now that I looked at this chart. You have a BLD in USD/JPY pair and a B/A-class BRD in GJY Z06 future. USD should continue its perhaps a temporary rise and Yen, according to daily, should be sold off a bit. I think your entry could have been better timed OP, watch out.
I must apologize, I thought for a moment this was the b1s2's currency futures journal.
My bad.
Yes you are correct, even though I don't see your numbers. FX and futures on the JPY trade opposite to each other. The number would have been your Nov-29 high.
I had no solid reason to open that trade and was stopped at a small loss. But it's not about the loss, it's about taking a trade which had no valid reason to be taken except for gambling purposes.
=)
My bad.
Yes you are correct, even though I don't see your numbers. FX and futures on the JPY trade opposite to each other. The number would have been your Nov-29 high.
I had no solid reason to open that trade and was stopped at a small loss. But it's not about the loss, it's about taking a trade which had no valid reason to be taken except for gambling purposes.
=)