U.S. Dollar / Japanese Yen
Long
Updated

Try USDJPY again...

280
Broker says nothing is wrong, and I currently have a short coming into this level of entry I was able to place with no issues. I think it may have been a deviation on th order type issue on my end.

Looks like we have pulled a successful reversal through the start of the week, we have a trend line coming up to meet with at a level, which tend to be great signals on the JPY, looking to go long two levels up, hedge down below for the long order.

Entry spotted at 131.8, with a sell hedge at 131.45. Target for the long will be 133.78

Short will be made risk free soon if it continues into the trend line below.
Note
Short from above set to risk free, just waiting for entry. If price does not vontinue into the trend directly, the entry may have to be raised slightly to stay on line with the trend line leading up
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Short hit the breakeven stop and it's traveling up just a little. FOMC coming, I'm going to leave the orders in place, with about 36 pips of risk (hedge order)
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Usdjpy loves to "get violent" with news, and my thinking is, this signal of trend line and support combined got ignored where it was lined up, so most traders will move the buys up to the next level, which means the banks want to hunt down to the level prior (the one I'm staying with) and then go
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In a nutshell, the entire zone below where price is now, will be a "stop hunt zone" after news if it doesn't come down before, if it does, I'll drop my orders to the next lower level
Trade active
Order triggered
Trade closed: stop reached
Hedged
Trade active
Managing from the phone, but closed the hedge sell at 131.2 for 31.4 pip gain, renter a second buy, open targets on both with a double hedge below at 130.8
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Favorite pattern is developing on the 5 minute, the loaded w
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131.78 for targets, losing volume so see if it breaks above break even for the buys
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132.31 to target the neckline of the head and shoulders pattern above.
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131.66, just take the breakeven and get risk out
Trade closed manually
All positions flattened for a slight gain of a few pips. Time to look for more opportunities after market open

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