Trade 7 – USD/JPY


usdjpy-entry-on-st-smaWatched the market and followed the plan as mentioned in previous post.

Reference/Entry timeframe: Weekly/Daily

Stop buy order was triggered on the ST SMA. TAZ is formed with the 3399SMA. Price bounced off the LT SMA which also had the confluence of a former resistance.

A bunch of other orders were placed on lower timeframes but none were triggered. Stop order on the ST SMA triggered and it is a strategical place as will be looking for price to come within the TAZ and exit with a rally.

Will be looking to add positions on the dips.

Range ››› Crossover ››› Breakout ADX>25 ››› Pullback ››› Stop Entry on ST SMA.

2% capital risked for potentially 8R.

Trade 7A Entry: 114.1 | Stop loss: 111 | Target Profit: 140

Psychology and emotions – Down with flu, having a productive day which I’m happy about but it’s still quite bad cause my bicycle got stolen.

Trade Management

addjpyDaily Resistance trend line was broken and turned into a support. 100 SMA formed a nice support area which price has been respecting throughout.

addjpy1A close up view on the 4H chart. Highs and lows are more or less matching each other. Next add could be if resistance area of 115 turns into support.

1% of capital risked for potential 10R.

Trade 7B Entry: 113.6 | Stop loss: 111 | Target Profit: 140

Psychology and emotions – Order was placed last night, neutral, recovering from a flu. Leaning to the positive side I’d say.

28/02/2017 (Update)

usddddJPY (-).pngBad entry above. Price was still in a downtrend or ranging at best. No reason to buy yet except for a small bounce off support. Expecting it to hit stop loss. No transactional/holding costs, therefore, not looking to manually close the position.


ujyupd.pngIf you look at the entry prices and base it on the latest swing, seems like precise entry points. Got lucky even though went it too early. But didn’t miss the trade.

Adding to winners, stop buy entry placed: Price has pulled back with [1] the flattest resisting TL playing the role of support [2] Upward TL formed [3] Supported by the 1545SMA and price within the TAZ [4] Prior swing registered ADX30 [5] Good area of confluence and value enabling a tight stop loss

If entry triggered and price swings upwards, shift all stop loss to 114.1 (SL of this buy entry)

usjpy.pngEntry triggered. Will wait for next swing low to be established before shifting all stop loss as mentioned above.

0.5% of capital risked for potential 30R.

Trade 7C Entry: 114.9 | Stop loss: 114.1 | Target Profit: 140

Psychology and emotions – Added to a winning position, decision made based on market structure. Following the plan.


ujujuj.pngTrade 7C – Stopped out by one large bearish candle, 0.5% loss.

The resistance encountered by the latest swing high seems to be a strong one. 4H remains in a range with a bullish break out becoming less certain. Apparently some kind of interest rate hike is around the corner or whatever. High volatility expected, price could be flopping around both ways.

Manually exited both Trades 7A and 7B at breakeven. No gain, but also no loss incurred. Might reenter if the market could decide on the direction is wants to go. Still having a bullish bias, but doesn’t seem like it’s going to take off anytime soon.