Discussion in 'Forex' started by AJFCapital, Jun 17, 2009.

  1. I'm thinking about buying USDJPY.

    Anyone else agree or disagree?

  2. Based purely on divergence?
  3. Ya, why not :)

    I'm just looking for a few pips...we'll see
  4. bkveen3


    What time frame chart is this?
  5. Not criticising you, just curious,good luck
  6. I'm sorry, I didn't mean to sound sarcastic or anything

  7. 1hr chart. I used to trade on the smaller time-frame, but there's just too much noise.
  8. bkveen3


    What is your stop-loss and profit target. If you don't mind me asking.
  9. 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.
  10. 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
    #10     Jun 17, 2009