EUR.JPY

[arco]

Hi Slam

Correct,
and as mentioned Friday night "SAR 137.48 with tight stop"

.....meaning sell the long and reverse trade to a short with
a tight stop to protect. In other words - if you are long
1 mill go short 2 mill which reverses the trade.

(SAR = Stop and reverse).

arco

[slam]

Hi arco
got ya
I went short fri at 137.55
Just wait now to see if the gartley turns to a butterfly hey

Thanks for the explain

Cheers
slam

[arco]

For anyone following the EUR.JPY short trade
I have taken 70 pips.

arco

[peat]

i was following your journey in spirit arco
well done again!

[arco]

Whisky?

[slam]

may have started it's asent to 1.3900ish

slam

[arco]

Slam

Yes I have gone back in long at 136.90

+ 37 currently

arco

[arco]

I closed this one off last night at 137.18
for a measly 28 pips. Generally things were
looking a bit messy and with the weekend
ahead I prefer to minimise positions.

[slam]

To quote arco from GBP Thread "Could be forming a Pennant on the 15m presently"

Dito for this one imo

[Xerof]

Head and Shoulder formations seem to be the flavour of the day today, so take a look at the EUR/JPY daily chart.

This pair played out a nice H&S during April/May and looks like it might be history repeating. Perhaps a little early to do anything, but would be interested in other thoughts on it.

An early signal to enter from a level which is not too far away might be a breach of the rising trendline, currently sitting around 134.80 level, being part of a larger triangle

It is certainly visually appealing [^][^]

Xerof