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U.S. Dollar / Japanese Yen
Short

2X Bracket Short

By mortdiggiddy
Updated
Topping out as stocks are showing weakness to start September. FXE GLD GDX
Trade active
As usual both brackets are executed simultaneously. The first one is sold to force the entire trade to break even. If the second bracket is stopped out (didn't reach lower target) then the gain is 30 pips on the first and a loss of 30 pips on the second.
Trade closed manually
Closed half at the August close, moved stop up to entry price (instead of just leaving the stop up at 111.67). This trade makes 30 pips no matter what now.
Comment
Back to the daily pitchfork and completed a little AB=CD correction wave here snapshot
Comment
See this post to understand the fork.
Bounce off 200 D SMA and Support
Comment
Moved stop down to 111.00.
Trade closed: target reached
Most trades don't work out this fast.

Since we have now fully explored Weekly CAM R4 to Weekly S4 (Monthly CAM R3 to Monthly CAM S3), it is now entirely possible that we have a mean reversion to the previous week's close (the August 31 close).

I would watch for 4HR confirmation to maybe get back long on UJ.
Comment
Final thoughts:

Notice the immediate bounce from the rejection zone of CAM Week S4 and CAM Month S3. Camarilla pivots work, when you see the initial trade (R4 and R3 respectively) and we complete the classic trade which just happened, you have to know that the pros are secretly placing their short covers directly at that location where I prescribed the end of this trade.

This is a classic RANGE trade, which was aided by the fact that weekly level 4 pivots were very near monthly level 3 pivots.
Technical IndicatorsPivot Points
mortdiggiddy
Find the edge.

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