Follow the money, Eur/Jpy focus group.

Discussion in 'Forex' started by DepthTrade, Oct 12, 2021.

  1. This thread is for those interested in positioning themselves in eur/jpy using close to zero leverage. The goal is to return on average +0.08% daily, about +20% per year. Stoploss will be used on trades with the no Target price, exit is dependent on strategy parameters being met. Leverage in rare circumstances can reach x5, but on average will be closer to x2 or x3. If you are in the USA and need to get around First In, First Out rules, you will need to vary position sizing for your Stops to execute. This can be circumvented using Oanda and their position size calculator.
    Full account balance will be used for each trade.

    To start,

    Eur/Jpy short 131.00
    Stop 131.33

    10 12 21 ET FG eurjpy.PNG
     
    Last edited: Oct 12, 2021
  2. expiated

    expiated

    In my view, EURJPY saw its 32- and 40-day baselines turn bullish in August of 2020. However, the former turned slightly bearish last month and the latter is now neutral. Given that the rate has been treading water for the last three days at the top of the six-day price range, I'm looking to sell the pair. But first, I need permission in the form of a downward reversal in the 24- and 48-hour baselines. For me, it would make sense to take profit near the bottom of the six-day price range, which I calculate to be somewhere in the neighborhood of 128.63.

    upload_2021-10-12_16-55-21.png
     
    Last edited: Oct 12, 2021
  3. SunTrader

    SunTrader

    "Follow the money". Ok, where is it - to follow?
     
  4. Hello expiated, thanks for the comment.

    I agree with you for the most part and would also recommend taking that idea, applying it to all the other associated crosses. The problem with only focusing on the technical within the pair traded, it's hard to filter out "noise" even when looking at larger time frames. Even a pair like Cad/Sgd is significant to Eur/Jpy's movement.
     
  5. Beats me, I just work as a janitor at an NB Fund. But I learn a lot over hearing their conversations.
     
  6. Short a second trade of Eur/Jpy

    #1 sell at 131.00

    #2 sell at 131.00

    Stop on both are 130.33

    10 12 21 ET FG eurjpy 2117pm.PNG
     
  7. expiated

    expiated

    I don't know about Cad/Sgd, and I'm not sure I understand what you mean by "applying it to other associated crosses," but I do know that it seems like the "big boys" (as Scott Barkley of ProAct Traders is so fond of calling them) seem to trade several pairs in the same direction at the same time, and that AUDJPY, AUDUSD, CADJPY, GBPJPY and USDJPY all seem to also be just days (if not hours) away from turning south, and that EURGBP might be just a few weeks (if not a few days) away from turning north.
     
  8. maxinger

    maxinger

    strange ...

    why do you short it?
    the upforce momentum is still there.
    as of now, there is no indication it is going down.


    when the price hits the resistance line, it doesn't mean there is high
    probability the price will go down.

    wait for confirmation before you short it.
     
    Last edited: Oct 13, 2021
  9. SunTrader

    SunTrader

    So follow the money (as title name stated), don't follow the janitor. Okay.
     
  10. maxinger

    maxinger

    Your STOP has been hit.

    for goodness sake, don't trade based on hope.
    don't trade against the trend / grain / flow.

    wait for confirmation pattern / signal before you short it.

    do note that if you use such a trading strategy, the success rate
    is going to be very pathetic.
     
    Last edited: Oct 13, 2021
    #10     Oct 13, 2021
    Raheel Shaikh likes this.