Short EUR/JPY

first target: ~163,83
I will close there if it bounces.

 

~163.83 target hit, but I haven't covered yet.
Things are looking good for shorts,
let's see if we can get down to the next target @ ~163.67.

 

Sorry I could not post earlier today. I placed a stop at 164.15 area when EUR/JPY was in 163.80 area. I got stopped.

Gains +50 pips.

Now I am re-entering.

10:49AM (my computer time and ~ posting time): shorted 1/8 @ 164.39.

10:52AM: added another 1/8 @ 164.46.

10:54AM: added another 1/8 @ 164.47.

 

That is a good call. It is the support for the 4 hour buyers. They have to be beaten before it sinks lower. If they do not get the ball to the 4 hour sellers, the ball will be back to them.

 

11:26AM: shorted 1/4 of intended size @ 164.66

11:28AM: shorted 1/8 of intended size @ 164.65. Currently I have 3/4 of intended size on.

11:37AM: added a 1/8 to shorts at 164.71.

 

*I certainly think that having you explain how/why you are trading what you are would be beneficial.

Anyway, what I'm seeing on the short & longer term...same old stuff that's been posted the last couple of days but here it is again...

Long term downtrend...

<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view&current=eurjlontermcopy.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/eurjlontermcopy.jpg" border="0" alt="Photobucket"></a>

Shorter term uptrend, showing the current support line and where it has been in the past...

<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view&current=eupyjcopy.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/eupyjcopy.jpg" border="0" alt="Photobucket"></a>

And an even shorter view, showing the support & resist lines...

<a href="http://s24.photobucket.com/albums/c26/sammybiker/?action=view&current=eupj1copy.jpg" target="_blank"><img src="http://i24.photobucket.com/albums/c26/sammybiker/eupj1copy.jpg" border="0" alt="Photobucket"></a>

I'm still holding short with my original positions of 163.88 & 164.4

 

12:04PM: Just took 14 pips gain on one 1/4. Plan to re-enter if reaction to latest highs and fail.

 

1PM: Just took another 1/4 off with 34 pips gain. Closed at 164.32.

I am going to leave two 1/4 for more if any. I may not be able to post in the next few hours. So good trading everybody.

 

1:40PM: re-entered 1/8 short of intended size at 164.46.

1.54PM: re-entered another 1/8 short of intended size at 164.54.

 

8:08PM: I may not be able to watch the market. So I just closed the above trades at 164.29. Gains: +21 pips.

I also closed the other trades I had on. I will review the history and determine the pips (but they are positive).

So now, no position until I can be back to study the charts.