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    Thread: Mez Da Whiz's trading journal

    1. #61
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      Default USDJPY short trade setup

      Hi all.

      After the dust settled on the chaos and confusion of the market following the FOMC yesterday, a nice pin bar formed on the daily chart of USDJPY (red circle)



      This was a simple one. I placed a sell stop at 110.17 with target at 109.20 and a 50 pip stop loss. Trade got triggered at open of Asian market and already in profit.

      I expect the best.

      ---------- Post added at 10:21 AM ---------- Previous post was at 10:07 AM ----------

      Kindly note:


      Quote Originally Posted by Mez Da Whiz View Post
      This is a weekly chart of USDDKK.


      Spoiler Spoiler:
      This trade did not get triggered. Price went North and I was forced to cancel the order.

      There won't be any post-trade update for USDDKK.
      Come Alive!
      Proudly Nigerian


    2. The following 5 users say Thank You to Mez Da Whiz for this useful post.

      bitcoinrush (06-15-2018), dzin4aans (06-14-2018), Neriah (06-14-2018), Timon (06-14-2018), Unregistered (1)

    3. #62
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      Default

      After the dust settled on the chaos and confusion of the market following the FOMC yesterday,
      oh we had a FOMC? i didn't know, the chart did look fun though. yes, i did trade just like normally



      what i really wanted to point out, that pin and lock specifically is looks a bit tense. are you really looking to short this? because it looks to me that you barely managed to lock it since price was so close. imo it's time to lock when the price says so or a certain amount of pips (many pips) are on the table as profit. on your chart it just looks like you set the sl there.

      at least to me..

      The Symbiosis mashed up Trading Journal
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    4. The Following User Says Thank You to Alexander Tatsumaki For This Useful Post:

      dzin4aans (06-14-2018)

    5. #63
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      Default

      Quote Originally Posted by Mez Da Whiz View Post
      Hi all.

      After the dust settled on the chaos and confusion of the market following the FOMC yesterday, a nice pin bar formed on the daily chart of USDJPY (red circle)



      This was a simple one. I placed a sell stop at 110.17 with target at 109.20 and a 50 pip stop loss. Trade got triggered at open of Asian market and already in profit.

      I expect the best.

      ---------- Post added at 10:21 AM ---------- Previous post was at 10:07 AM ----------

      Kindly note:




      This trade did not get triggered. Price went North and I was forced to cancel the order.

      There won't be any post-trade update for USDDKK.
      Nice trade call about USD JPY mate, but if I were to advise about your take profits, I believe it is too aggressive in the sense that where there is a swing low is around 109.30 that extra ten pips that you used in lowering that take profits can cause some havoc if price does not break beyond that previous swing, I just thought I should give you a heads up about that. Just trail your stop loss.


    6. The following 5 users say Thank You to Timon for this useful post.

      Leonvic90 (06-14-2018), Mez Da Whiz (06-14-2018), Neriah (06-14-2018), Oghale (06-14-2018), simisola (06-15-2018)

    7. #64
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      Default

      Quote Originally Posted by Alexander Tatsumaki View Post
      oh we had a FOMC? i didn't know, the chart did look fun though. yes, i did trade just like normally



      what i really wanted to point out, that pin and lock specifically is looks a bit tense. are you really looking to short this? because it looks to me that you barely managed to lock it since price was so close. imo it's time to lock when the price says so or a certain amount of pips (many pips) are on the table as profit. on your chart it just looks like you set the sl there.

      at least to me..
      Thank you. I already moved the stop before I took the screenshot. I normally would have taken the shot before the trade triggered.

      I've moved the stop to lock in more pips after I posted the chart and so, I'm kinda safe. Been quite busy at work today and haven't looked at my charts. Will do that right away.

      @your comment on FOMC, lol!
      It's the Masters that talk that way. I'll get there someday, where I'll not be bothered by what the news say
      Come Alive!
      Proudly Nigerian


    8. The following 4 users say Thank You to Mez Da Whiz for this useful post.

      bigani (06-14-2018), Leonvic90 (06-14-2018), Neriah (06-14-2018), Timon (06-15-2018)

    9. #65
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      Default

      Quote Originally Posted by Mez Da Whiz View Post
      Hi all.

      After the dust settled on the chaos and confusion of the market following the FOMC yesterday, a nice pin bar formed on the daily chart of USDJPY (red circle)



      This was a simple one. I placed a sell stop at 110.17 with target at 109.20 and a 50 pip stop loss. Trade got triggered at open of Asian market and already in profit.

      I expect the best.

      ---------- Post added at 10:21 AM ---------- Previous post was at 10:07 AM ----------

      Kindly note:




      This trade did not get triggered. Price went North and I was forced to cancel the order.

      There won't be any post-trade update for USDDKK.
      There is something that is happening in the market today that has caused a ripple effect to take place, this is one of those days I am happy I did not execute any positions, the usd jpy has suddenly climbed up, that is the reason why moving stop loss to break even is very good although that is something I rarely do my self, usd jpy is now at 110.29 and still have the potential to go higher.


    10. The following 8 users say Thank You to Neriah for this useful post.

      bigani (06-14-2018), Mez Da Whiz (06-15-2018), Oghale (06-14-2018), simisola (06-15-2018), Timon (06-15-2018), Unregistered (3)

    11. #66
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      Quote Originally Posted by Timon View Post
      Nice trade call about USD JPY mate, but if I were to advise about your take profits, I believe it is too aggressive in the sense that where there is a swing low is around 109.30 that extra ten pips that you used in lowering that take profits can cause some havoc if price does not break beyond that previous swing, I just thought I should give you a heads up about that. Just trail your stop loss.
      Well, i don't like to interfere into some thing that traders are doing externally, they might have the reason why they do what they did. So, it is good for us to make sure that we do our own trading in the way we want. But when we advice others, there is nothing bad in it, not that we will now think that our way of trading is simply the best, no. I think that since the trader is also trading the right direction of USDJPY, there is no much cause for alarm, he might get it through always successfully.


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    13. #67
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      Quote Originally Posted by Neriah View Post
      There is something that is happening in the market today that has caused a ripple effect to take place, this is one of those days I am happy I did not execute any positions, the usd jpy has suddenly climbed up, that is the reason why moving stop loss to break even is very good although that is something I rarely do my self, usd jpy is now at 110.29 and still have the potential to go higher.
      It was obvious ECB will trigger a chain reaction from the market today,remember we have a dollar favorable FOMC yesterday,today it was the turn of the ECB,so am not surprise about the sell off,even from your chart above there was a kind of warning from your chart above,i know the false break out will deceive a lot of people,but the rule is always allow price to close above or below.


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    15. #68
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      Quote Originally Posted by Mez Da Whiz View Post
      Hi all.

      After the dust settled on the chaos and confusion of the market following the FOMC yesterday, a nice pin bar formed on the daily chart of USDJPY (red circle)



      This was a simple one. I placed a sell stop at 110.17 with target at 109.20 and a 50 pip stop loss. Trade got triggered at open of Asian market and already in profit.

      I expect the best.

      ---------- Post added at 10:21 AM ---------- Previous post was at 10:07 AM ----------

      Kindly note:




      This trade did not get triggered. Price went North and I was forced to cancel the order.

      There won't be any post-trade update for USDDKK.
      Wow, thats nice but I noticed that it didn't hit your profit target before it rebound you have to be careful while selling USDJPY because the major trend is bullish since FOMC has hiked interest rates. So, From what I am seeing in the 4hr chart and daily chart, it seems the pair is about to resume its uptrend after it tested the support at 109.92 which corresponds to the red ichimoku on the 4hr chart. The price is currently trading at 110.58 and it may retest and break the high this time around. So the safest thing to is to wait till it breaks the 110.95 before buying the pair and it may target 111.90 which corresponds to the ichimoku lower cloud on the weekly chart. So be careful while buy this pair to avoid problems.


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    17. #69
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      Quote Originally Posted by Mez Da Whiz View Post
      Thank you. I already moved the stop before I took the screenshot. I normally would have taken the shot before the trade triggered.

      I've moved the stop to lock in more pips after I posted the chart and so, I'm kinda safe. Been quite busy at work today and haven't looked at my charts. Will do that right away.

      @your comment on FOMC, lol!
      It's the Masters that talk that way. I'll get there someday, where I'll not be bothered by what the news say
      It was a timely intervention that you found the time to lock in your profits before the price suddenly skyrocketed later, Alexander is someone that I know in this forum who regularly uses this feature, whenever he updates his journal, I will always see him saying he had locked his profit, it's safer to do this. USD JPY will most likely end the week on a bullish note.


    18. The following 4 users say Thank You to Timon for this useful post.

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