Long

You-Jay All Day

Updated

I have switched from being BonaBear to BonaBully and looking for buying positions on UJ while we go up. Plenty of ENTRY signals as we move along the SuperTrend line.

Don't forget to Follow/Favorite this idea to get updates to it.

Trade active

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LONG @ 111.36
STOP @ 110.74
TP1 @ 112.50
TP2 @ 113.75 (on chart = 113.95)

Note

I am re-looking at the daily chart and wondering if I misjudged the strength of this most recent move. DXY is looking like it should begin to flip the trend and begin chasing the 200MA and that is what I felt would be the driving force for UJ.

This may still happen, but jumping in now may have been way to early.

My stop is in and just gonna wait and see.

Note

Here is an idea that is counter to this one... The only difference between this pattern and the last 2 similar patterns is that it is not at the top of the trend channel (purple line).

Trade active

Closed 50% of the position as we ricochet off of the SuperTrend on the daily at 112.09 and I moved up my stop loss to the most recent low.

CLOSED 50% @ 112.09
STOP LOSS @ 111.59

Trade closed: stop reached

Stop loss hit... time to look for a good SHORT and the pattern I posted above fits the bill...

Note

Well I had closed my position on this idea already, but the chart idea still is valid. In fact this most recent shot up in price and what I feel is, the incoming push back down on this last 4 hour candle today seem to match up to the same price action on the original chart, April 26th.

It broke up through the SuperTrend only to pull back but continued the uptrend the following day.

This is what it looked like on the Daily chart >

Note

Wrong chart above...

This is the correct one >

Note

Just wanted to update our progression... This recent big drop was also done before so no surprises there. It is all in the Chikun Bones... I mean the charts.

Now do we see another leg up and a new high outside the 6 month long trend channel???

Note

We are nearing completion of this idea. Waiting to see if we will get another double top like before or it is ready to drop already.

Note

Calling this idea closed... it has gone according to plan. Unfortunately I didn't just hold that one position the whole time, but I nabbed some pips along the way.

Currently we still could go higher, but my money will be looking for a short opportunity with all the news coming out this week.

New idea will be up once we get some firm direction.

Bonavest

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by Bonavest

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