JLJ002500

JLJ002500 Updated 

Long-term trend up followed by significant retracement (almost 50%). Consolidation pattern followed by clear breakout for trend continuation. At strong resistance area. A pull back could be a good long-term buy opportunity. I have never traded this pair, but the chart looks interesting. 1M: 1W: 1D:

JLJ002500

Last week I was looking for a long entry around 1.5117. EA never retraced as I expected. I am still waiting for a better entry point to go long. 1H: 4H: 1D: 1W:

JLJ002500 Updated 

Trade active. Opened early this week. Short @113.785; SL 114.95 See below (1D) for entry justification. Left my last two UJ trades on the chart as a reminder. UJ has a way of luring me in to a false sense of confidence. It can be volatile making multiple false moves prior to following it's actual course of direction. 1M: As I've mentioned in previous...

JLJ002500 Updated 

Low-moderate conviction trade. I entered this trade Monday with a very small position (@ 1.15873). Added to position once since initial sell. While my bias for the trade direction is low to moderate, I believe this is a well managed trade with discipline money management. The small opening position provides flexibility to adjust the trade as it develops. ...

JLJ002500

Continue from my last post. I'm long at 111.429, SL @111 My SL is a little tight at the moment. 1D: Last completed candle was bear, but closed above my line (mentioned in previous post). Dark green lines indicate potential TP points based on resistance areas. 1H: Could be a better entry point (or in my case a potential to add to position and lower...

JLJ002500 Updated 

Based on current price action, this is a potential long opportunity, however only a moderate signal. To be stronger, more confirmation is needed. USDJPY has had bullish price action after a potential reversal candle. However, the candle was not at a key spot or strong support and therefore is a weaker signal. Additionally, USDJPY last high failed to truly...

JLJ002500 Updated 

I've been in this trade for awhile. I adjusted my SL to red dash line, right below support. This could turn bearish due to strong resistance zone (see below). 1M: Upper portion of range. 1W: Bullish price action. Close to resistance point, but last two completed candles give a green light to go long. 1D: Trend continues. Would like strong...

JLJ002500 Updated 

The trade is active. See my previous post for further analysis. Not going to go in depth in this post. USDJPY touched my green box (buy zone), but did not pull back as much as I expected. I did not open the trade until it bullish price action following ~110.655 support hold. 1D: 1M: 1W:

JLJ002500 Updated 

Bearish reversal price action at TL resistance. Entered partial short position. NZDUSD could easily re-test resistance offering better entry R/R. That is the reason I decided to scale in. The 1W & 1D below determined my bias. 1H and 4H determined entry point. Trade was triggered a couple hours prior to this post and the entry point looks a little different...

JLJ002500

Looking especially at the Month chart below illustrates a flexible trading approach is beneficial in times of prolonged indecisive price action. Pick your moments, scale in to trades, adjust position size, selectively take risk off the table, protect gains when there is possible reversal. The trick is to do all that without being reactive. Make calculated...

JLJ002500 Updated 

Watching for sell opportunity. See longer term charts below for direction justification. To open a short position, I'm looking for either: 1) A clear DN trend on 1H chart (will require break of 122.5 support area) OR 2) Reversal price action if EJ moves to red box zone on chart If it is #2 scenario, I would most likely...

JLJ002500

Bought SUPN at $5.65 as an investment, not a trade. In the past I have used collars to provide downside protection. Last collar expired last December. Collars should only be used in limited situation and timing them correctly is very important. It's only truly in hindsight that you can determine if the collar was a good decision. Last two collars worked out...

JLJ002500 Updated 

Look at 1M & 1W chart below. They paint the picture really well for LT price action. Could see move to 1.150 or more. 1M: 1W: 4H: ST price action should determine entry point.

JLJ002500 Updated 

Have been watching EURJPY and USDJPY. Both interesting. Patiently waiting to see if a good entry develops for USDJPY. Decided to go long EURJPY for the time being. I liked the ST set up a little better. Trading a smaller position size to allow me to also trade UJ and/or make adjust to this trade. There is risk of a pullback.

JLJ002500

Seems like the majority of traders are short. I understand the motivation. Strong bullish move, now UJ is up against strong support, it's easy for a trader to short in expectation of a correction. The shorts may end up getting it correct, but you shouldn't remove the possibility of a bull continuation. I'm neutral for the moment, but my bias is more bull than...

JLJ002500 Updated 

In long. Somewhat crowded trade. Got in a little early. Long @ 112.156. Current SL @ 111.79. Potentially it will move to protect gains as the trade continues. S.T. UJ is showing some bearish price action. Expect there will be some trade management as this develops. See charts below for trade set up. 1M: Reversal/Bullish price action 1W: 1D: ...

JLJ002500 Updated 

Active trade, but only a partial position open at this time. I lacked patience and discipline with this trade. I knew it at the time and that was the reason for only opening a partial position. In hindsight, it was still a poor decision and I should have remained on the side lines. I've lacked some patience this week in a few trades and it's especially true...

JLJ002500

At first glance, seems like a good short entry. However, this is not a straight forward trade. There was the gap up followed by indecision. EU has bumped up against some key resistance zones, but also hasn't reversed course (see 1D chart below). At this price, I am more prone to go short, although I'm hesitant to open a trade with the current mixed price...