USD.JPY

[peat]

well imo this has now broken out its small (15min) corrective pennant on the downside , tho I followed todays notion of getting in a lil early at 120.81. a mere 10 pip stop. 30 pip target
eur/jpy and gbp/jpy showing similar tendencies but the pennant not so well formed.

[peat]

heh paid the price of not waiting for the break out to actually happen 11 pips overboard on this one. [B)]

[miner]

The worm has turned for now Peat,look at eur/jpy,I just sold for a few pips but was a bad trade as could have got in earlier and should have sold around 156.20,but that's what you get when you enter as a trade and turn it into a medium hold,don't break the rules is the rule.

Anyway that's me until later going to watch Touching The Void on tv1 at 8.30 should be a good movie,messy market at the moment anyway,after the daily,early arvo was better.

Cheers
Miner

[peat]

false breakout seemingly... now going down again , I have re-entered at 76, similar stop/takes as before but of course not such a good entry and with a negative start ... lets see....

[peat]

as ya said miner messy today , whipping me round on this too.... so all bailed once it broke through 86 on the up.... double black eye for me today [V]

[miner]

Possible U trade back up to 124.10,15min & Hourly.

Cheers
miner

[arco]

Hi Miner

At what point do you decide/confirm the formation is a 'U'

regards - arco

[miner]

Hi Arco this is for todays trade,not power charts as they still dont work and took me ages to get this far also hence the bit at the bottom.

But top line is an entry as are the next 2 down,and obviously the bottom line is the target.

Took 23 pips after a late entry and then didn't jump when I thought it had turned,so not a great trade but still not to well.

My other time frames work in with this 15min one for what to do,if you want?? I will post them also?.

usd/jpy was the mirror image of this trade which also help me decide it was a U trade.

Hope this helps explain how I pick these but as I dont talk charty it's hard to explain what I see,let me know what you think anyway.

Cheers
Miner

[miner]

Sould add I wait for these lines to be broken before i enter and also that am still a tad sick so sorry but all a bit rough.

The lines are for the ride down but also look at the candles on the left,say for the last chart(5min) was looking at 165.59 to be broken,it did so stay short,also see how it went short again around that number after the bounce back up,usd/jpy doing the same so they confirm each other.

So just doing another U trade.

Cheers
miner

[miner]

Ok 165.41 was the safe U short entry,but 165.55 was ok if you look at the bigger picture as all we have done is a wee bounce up then back down for original 165.08 target(but never get stuck on a target like this as may or may not get there but usualy if not fairly close to it,or you just get it completly wrong and suck eggs),as I type we are back testing 165.21 which was supp and may now be ress,either way there was 20 odd pips in it if you jumped now.

The break of 165.48 on the 5min was a short entry also,and once again look at it's mate usd/jpy for conformation,so they just did the back to test U thing.

Cheers
miner