A quick update on the USDJPY position posted last week.
I opened a short position link to post from the daily doji candle. My thinking at the time was that we could be seeing a secondary top forming . The trade had an easy risk reward using the top of the Daily candle as the stop loss.
Anyone familiar with the way I like to trade ( Ryan K-man included ) will be aware that defining our risk is one of the most important aspects of any open position. I make mistakes, we cant ever hope to be correct with every press of a button.– If our risks are defined we can keep the losses small and manageable .
We’ve broken the trendlines on the D1 chart and price must be viewed as bearish although far too early to be calling a major reversal .
USDJPY – Daily live
Below shows the entry chart from the previous post .( link provided above ).
USDJPY – Daily
Here’s a current rather psychedelic chart of the Hourly. I dont use this type of chart to trade from . I like it very much to show me the shorter term directional bias in a visible easy to read ‘ one glance ‘ format .
USDJPY – H1
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what the heck is the last chart
I grew up in the 70’s man.…… Oh those pretty spaced out psychedelic colours
Pieces of rainbow dude ?
I do admit to having drank a double espresso coffee . Got to get your kicks somehow ?
You been on that weed again!!!
Yep ,, I’m going to have to give up the dandelion and nettle teabags :))
can you please check on the website security credentials? I keep getting the message that the website is not secure. thanks.
Hi Kelly.
I haven’t noticed myself . Thanks for the heads up . We will look into it.
The website is ok now. I guessed the secure site certificate have just been renewed. Thanks.
Validity Period
Issued On Thursday, 9 August 2018 at 08:00:00
Expires On Sunday, 11 August 2019 at 07:59:59
Ahaa ! Many thanks Kelly.
Ryan was onto it earlier. It should be fixed by now. You may need to refresh. That’s hat I did and the message went away
Hi Dubsy, yep a good view for life as well 🙂 ” If our risks are defined we can keep the losses small and manageable “. This is the line that should be put on all accounts like they put the warning on health on cigarette packets if they really want to help people from losing too much money ,more help than the new EU rules.
I don’t follow USD/JPY as its moves don’t suit me also its said your up against the best traders in the world plus I’m a big chicken really 🙂 , atvb Chris
Afternoon Chris.
Indeed, U’J can be very frustrating.
As long as state ‘nanny’ doesn’t place warnings on bottles of vino I should be OK.. There is a very high probability I would ignore them anyway 🙂
I don’t know what frustration is being a West Ham supporter Dubsy 🙂 , As a rule I ignore pretty
much everything I can for as long as I can. Sometimes in this game I have the feeling c/b and gov have the same philosophy, of cause that couldn’t possible be true 😉 ,atvb Chris