Nice move off the trend line overnight and a potential trade is looking better now. We want to try to get in on a
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One of our members asked for an update on this trade.
Basically, there is still no confirmed reversal signal, although there is a possible
There was an overnight 4H spike failure over the trend-line (yellow spot), but now we need to wait for the price action to
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Updating the chart.
Trading is very thin at the moment and from a safety point of view I would prefer to see
At members request – updated chart.
Daily chart action is presently stalled on Kijun Sen. Overhead Chikou could be strong resistance at 131.90 or always the possibility of the last 4 candles turning into a 3 Falling Pattern. Still waiting for a reversal pattern
Here’s the updated chart with what I think may happen in the future. It looks like the price action may go on to test Read more…
Pip profits are important to members, and lots of them have already taken profits on this trade of up to 200 pips. At some point there will be a retracement that may be tradable (either way), so decisions have to be made according to each individual members requirements. Every member has a different agenda, some are happy with 50 pips a week, some want more, some want quick trades while other are happy to stick with longer term trades and trail the SL slowly behind. Members know that we like to take profits off the table and then get back in again if possible on retracements. Thats our way.
So for the traders who want to stick with this trade until it stops them out, they should keep moving the stop along. Perhaps +60 would be a good point now so you don’t sacrifice all the profit. Those who like to book a profit can decide when its right for them.
This one has moved along quite nicely, and longer term potential still looks good. We’ve just taken some off at +200 because its nice to lock some profits in. (Low was 127.43). Current price 128.00. I will now look to see if we can bring the SL down to a sensible spot to secure pips for the longer term holders.
The short position survived overnight although came quite close to the +20 pip SL (High 129.62- stop 129.70).
Some members report having already taken profit circa +100 pips, so we will continue to monitor for retracement opportunities. Currently +78
Update. Currently around +70 pips.
The price has been up to around +100 pips.
Suggest to move stop to at least +20 or more to cover,
and you have a free ride with a guaranteed profit. Or you can take some off the table depending on your situation. I have personally already taken some off at +70 because I like a buffer.
