USDJPY Long From Here It is!

FX:USDJPY   US-Dollar / Japanischer Yen
Price is riding the trend line from my earlier chart on the Daily Timeframe , but has not closed below it . Here, the 30 minute chart shows a triangle formation. The breakout of which , I believe will be the moment of truth for this pair. As I am writing it appears to be breaking to the upside, supporting the idea of a long trade entry here. I am long from 113.10 , I plan on scaling in by fibonacci sequence, he he , .1, .1, .2, .3, .5 lots and my profit target is the 115.50 area. Watch out for the sucker reversal here, I could be handing over my money to the 10% of successful traders (banks included). " I may be wrong, but I may be right... You may be right, I may be crazy.....but for all I know I may be right(-Billy Joel ).
Stochastics on the 1 Hour are turning up, price is breaking up out of the triangle. Japan's bankers can't speak the hawkish language everyone else is espousing and the Fed's Follies are singing good vibrations for the dollar, so the Yen
may be suppressed in the near term, so 115.50, here we go. Best Wishes to all.
Trade wurde manuell geschlossen: Failed Trade. I followed my long bias at the time and ignored what price was telling me. I Paid the Price of being WRONG and moved on. Nothing fancy, just closed the trade and started my analysis over from scratch. I started with the Long term charts and worked my way down to the hourly chart. I find that looking only at the hourly charts keeps my anxiety down and price movements don't look so big from there. I trade small so the $$ figures going up and down don't bother me much. I think looking at price on the smaller time frames was getting to me. Now I have a rule that says I can only look below the 30 Minute time frame ONCE, just to verify my entry price isn't at a bad spot to start off with. Then that's it. Best Wishes Traders. New analysis coming soon.
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