Usd/jpy
- Thread starter 4Xgorilla
- Start date
The 360 minute chart is very integral in my analysis. Whereas the other day (6/28), we had bearish divergence on this pair on the daily chart, today the 360 minute chart indicates bullish divergence. Right now, I believe this to mean a pullback can be traded in a longer term USD/JPY downmove. --Or profits from the bearish move can be taken now and new short USD/JPY trades should be looked at on fresh bearish signals in the future. Is this a full blown reversal of the recent bearish tone to this pair? --Need more info to tell--Right now, it looks to be pullback.
On the long term charts we are really in no man's land. No clear direction is obvious. I do not trade the long term trends and this "limbo" period of not being sure can last weeks or months.
I'm a big price action / chart trader and i've look at daily charts as far back as the great depression for the dow. Back to 1978 for the usd jpy. I firmly belive that the chart patterns visible from daily data can be exactly transferred to intraday price patterns. Every huge breakout trend from every market can be minimized to intraday trends. Obviously on the smaller scale you have to be very fast, have near perfect execution, and be almost in humanly discipline.
I trade AM EST est if still in a position i close it usually at PM unless i think its a rare great trend, usually 1 time per month.
Bottom line there are many trends intraday to capitalize on if you have the discipline to catch them each month and for my personality intraday is my perfect match. If you like long term trends to each is own.
I'm a big price action / chart trader and i've look at daily charts as far back as the great depression for the dow. Back to 1978 for the usd jpy. I firmly belive that the chart patterns visible from daily data can be exactly transferred to intraday price patterns. Every huge breakout trend from every market can be minimized to intraday trends. Obviously on the smaller scale you have to be very fast, have near perfect execution, and be almost in humanly discipline.
I trade AM EST est if still in a position i close it usually at PM unless i think its a rare great trend, usually 1 time per month.
Bottom line there are many trends intraday to capitalize on if you have the discipline to catch them each month and for my personality intraday is my perfect match. If you like long term trends to each is own.
p/f..chart
3box/reversal.
ichimoku/daily
Interesting ideas. Do you just trade once per month? If so, what do you do in between? Do you sit there watching the screen? I usually trade twice per day and find the discipline very tough as there's a long wait between the two trades.
Hey mini dude. What going on. Assume you are short. Probably a nice trade. Post your specifics. Will likely head south for miles from here, especially with the BOJ announcement and all.
