For the members who were still holding and waiting for this one to achieve target the trade has now hit the TP and all our remaining positions were automatically closed. (current low 90.46).The action could actually drift lower, so if you didn’t have a TP and are able to watch you may be able to squeeze more pips.
There have been 3 long black candles on the 4H chart overnight, so I would expect a hesitation now while the market digests this move. We came to within 22 pips of target,
The price action has broken below the up-trend line and so far we have seen a long black candle
Just waiting for Usd.Jpy to set-up and we can hopefully make some very nice pips again. Why not 500, or even more – 600, 700, 800 ? Watching now for a
Target area circa 92.41 reached overnight although unfortunately we didn’t get the retracement signal to enter at the 87.00 area. I know some members got on board this at various stages but as the majority didn’t we don’t count any of these pips in the monthly total.
Posted 10th DEC
I’ve been keeping my eye on this one which made us some good profits recently. Now we can see a nice retrace from the the position where we took our profits its time to look if we can shortly find a potential reversal pattern and see if we can take some more pips. Well maybe 400-500 if we can.
Here’s what I’m looking at. Price action approaching the …………
The following information and chart is only available to members
We talked earlier in comments with Paul about re-entering/replenishing.
I replenished my first sold position amount (actually at 1 pip better), so now I gain extra profits because in reality I have doubled my order. Notice the 2 positions now below the chart . BTW If/when I do this I don’t add extra pips to the monthly total. Remember these trades are scalps / or day trades so we always pick off profits as we go along and sometimes replenish if the trade looks good.
Watch for some possible hesitation at the dotted up-trend line and slotted line. If they break then the Kumo may be attractive.
Edit. I took 24 pips on the replenish order so that’s actually 50 pips from one position, but I still only count it as +26 from the original.
I’ve taken a small parcel off here + 26 until we see if they mean business. Will replenish if/when we get a retrace.
For active traders and scalpers. Early notification of potential trade.
We took some very nice profits on the recent move of Usd.Jpy.
If anyone is still hanging on to positions in Usd.Jpy this is just to let you now I’ve taken my last ones off now for an additional 40 pips as we approach the area I mentioned yesterday………(quote .…be cautious once/if it gets to the 88.20-40 area) . So now the price is there and also approaching a couple of trend-lines + potential support/resistance areas and although there still may be some mileage in the move I’m happy with what I’ve got. If you wish to hang in for a few more pips trade cautiously. When we see a retrace we can consider re-entering if the position looks good. I will keep you posted on this as soon as anything develops.
