The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well. By now the setup is familiar: the pairs were all trending up, but have recently...
This setup offers everything I like to see: 1. A clear trend -- price is below the 50 SMA and 200 EMA 2. Price is touching the 50 SMA, which is acting as resistance 3. Price has pulled back 50% from the recent swing low to swing high 4. A doji candlestick is in the works on today's candle Four out of four, so I decided to short at 0812 with my stop at 0844. My...
After a steep rally into 8685 (tested 2 times) and broke on 3rd time, PA stopped @8735 (tested 2 times that level again) and broke on the 3rd time. NU reached the high @8791 with no strength to break 88. According to previous analogy if a bullish continuation is predicted a ret. to 8735 (perhaps twice again) and break higher on 3rd test of 88. The 3TT rule (3...