Chris wrote:Still going, I took profit on everything except the EJ at this point. maybe there will be a retracement for another entry.
Hi Chris, there is always a retracement Depends on your timeframe as well... Myself I look or adding new positions off of the 1 or 5 minute charts depending on the currency pair... E/J I usually use the 1 minute TF....
True true, either way it has already been a great week and a great day.
TraderDesk wrote:I love news like this...In E/J it was a great move and still is.... I don't really trade other JPY pairs when there are large moves as E/J has a very high daily trading range compare to the other JPY crosses so I just throw all my trading funds into this currency pair... Like Bob I will let them ride today occasionally adding to the buy bias... If price action goes down to 120 line I will add more... Long-term looks like JPY will weaken.... Let's see if today she will cross that 240ma line to reinforce that thought...
I am looking for PA to hit 122.300 at least
Also on the CSS it shows EUR strengthening back up once again so it would be great if JPY and EUR come back and cross each other once again...
I disagree with you there the King of the JPY pairs is the GBPJPY the Ferari of the forex pairs
It is still 200 pips from R1 and I think it will go past R1 by Friday.
Up over 8% for the day closed everything below the 240 line for profit. Closed all other trades that were in the negative. Riding now all trades above the WP and 240 MA line. Still have more pendings set to enter. I have not seen stuff like this since OCT. 2008. Approaching 1000 pips for the day now. 2000 for the week. Maybe try for 3000 pip week. Is that even possible???
Now what is next, a bunch have already reach R1. I would have been happy if they got there on Friday. Now what?? I have more in profit on my live account than in my closed account for the day. DANG.
I think I need to just walk away and quit watching. I mean it is not going back to where it was, that is for sure. Over 10% for the day already.
My first E/J TP point just hit at 122.3 level... now let's see if we get pullbacks to add to new long positions... On the 1 minute TF I only saw one pullback area down by 120.7 area... very strong uptrend at the moment...
4H chart is now useless, all indis are useless. I have gone to daily charts and reset my TP at the last highs. NZD/JPY blew through R1 didnt even hesitate. Up over 30% of my account now. Euro opened an my open trades doubled in a matter of minutes. Ride baby ride.
Depends on your timeframe as well... Myself I look or adding new positions off of the 1 or 5 minute charts depending on the currency pair... E/J I usually use the 1 minute TF....
