Discussion in 'Forex Trading' started by AJFCapital, Jun 17, 2009.
I'm thinking about buying USDJPY.
Anyone else agree or disagree?
Based purely on divergence?
Ya, why not
I'm just looking for a few pips...we'll see
What time frame chart is this?
Not criticising you, just curious,good luck
I'm sorry, I didn't mean to sound sarcastic or anything
1hr chart. I used to trade on the smaller time-frame, but there's just too much noise.
What is your stop-loss and profit target. If you don't mind me asking.
Falling wedge, positive divergence, completed measured move down from sHs. Looks like a solid setup to me. I'd wait for to make sure that the most recent swing low holds, then throw a 2xATR stop on that baby, and let her rip for a solid swing. I'd take that trade on a doulbe bottom bounce from the low a couple of weeks ago.
I actually haven't opened a position yet, but I usually do a 50-pip trailing stop.
For me, 50 pip SL works pretty good for this time frame
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