USD/JPY Move

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

  1. I'm thinking about buying USDJPY.


    Anyone else agree or disagree?


    [​IMG]
     
  2. Based purely on divergence?
     
  3. Ya, why not :)

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

    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

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

    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