Discussion in 'Forex' 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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