I have been posting about how bullish the USDJPY pair is, and how this aligns with inflows coming to the US, from foreign countries, ergo, deleveraging phase from August 2015 is done and we can resume the uptrend here, and possibly in equities. You should be long, if not in, you may jump in right here, risking 1-3 average ranges down, or a drop under the invalidation level on chart.
Good luck,
Ivan Labrie.
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Great progress right off the bat as expected, when European investors joined the fray.
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No heat whatsoever if you took the long when I posted here. If you joined me earlier, you're well in the money too.
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Luckily stopped for almost no loss. (had moved stop up)
Trade ist aktiv
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I bought back today at 103.1, and back up already.
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Closing here is a good idea. If not, close partially and move stop to entry. Alternatively, you can trail stops under the previous day low until you're taken out, or using a 10 period moving average of the lows.
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(Price hit the 252 period SMA and is close to the original weekly target at 110.14)
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Weekly target hit, let's watch it. It might stall or start a pullback soon.
Great Chart thanks for sharing with us Ivan i have not so long ago come across your profile and really enjoying watching your trades thanks again.
Cheers
Luke
IvanLabrie
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Welcome, and thank you for the kind words.
Best of luck!
lu1977hk
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Hi Ivan
any update on the pair?
best regards
L
FaultyKid
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Hi Evan,
Thanks for the cool chart.. Can you explain what invalidation means?
Thanks,
IvanLabrie
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Hi, thanks for the kind words. Invalidation is where you would get out of longs because the thesis would be wrong of hit before going higher. You place your stop or measure your position size to risk 0.5-2% if that level is hit. The distance from entry to invalidation determined risk per standard lot and tells you what fraction of amount of lots to use to reach your position sizing and profit per trade goals.
Cheers
Luke