Short EUR/JPY

7:17AM: just took that 1/4 off for a 90 pips gain. The trend seem to be down, but I took it as I may not be able to follow it over the next few hours. Still have a non-closed 1/4 short from yesterday opened at 160.46. Let us see how far this remaining short can go.

 

The area to watch is the 159.06 on the EurJPY. This where you will see a bounce.

Yes, your right there was a serious volume flow in this area yesterday! 159.85

 

On the E/J and the SP. This is a beginning point of a new wave or cont. of the present wave!

 

I counted 5 wave down and had to see how volume reacted to this point.

 

you got your answer

 

entered 159.921
target 159.16
30 pip stop and closing gap after the first 10 pip gain

 

One of the best time to get hammered is right before open. The trade are shoring up there trade before open, so it is good to put in a close stop due to Ny open about 9:10 it starts heating up!

If you have a nice profit hang in there if not stay off to the side.

 

Watch is in a buy mode right now

 

12:28PM: Just shorted 1/4 position size of EUR/JPY @ 160.37.

12:50PM: Just shorted another 1/4 position size of EUR/JPY @ 160.50.

 

1:08PM: took off the latter 1/4 for a 14 pips gain. Plan to re-enter on retest of high and fail (I hope it goes go back up).

1:13PM: re-entered the 1/4 short EUR/JPY at 160.51.