Side ways market what too do
Posted on Thursday, April 29th, 2010 at 10:58 pm.
As you can see the USDJPY is a perfect time too use the method called the box trade and look for the break out and you can use the trading tool Magic stick for this situation. it’s very easy to trade this you put a line on the top using the buystart command and putting your stop loss at the last swing point on the bottom side as buysl command and buytp at the next weekly pivot point. On the bottom draw a line and put sellstart as the command and then put your stop accordingly and there you go you don’t have too stay up all night and wait for the confirming candle stick and let the magic stick do it’s thing. A friendly reminder make sure your computer doesn’t go into the sleep mode or if you have our virtual server you won’t have too worry about a thing just make sure magic stick is turned on and you see a smilely face and the magic show start.
usdjpy short position
Posted on Monday, January 18th, 2010 at 5:02 pm.
Price is right at a strong support and resistance area at the price of 90.71 If you add a 200 simple moving average you can also see that price is at crossing that area. I would expect a nice break out pushing downward with the usd/jpy. Thing will start to pick up with the forex around the asian session so watch out for this trade and look for a good entry point and a close of the candle below the price 90.71. first exit point i would expect too be 89.44 and then next target 87.71 stop loss behind the 200 simple moving average or behind the swing point. 91.28 only risk 3% of your account. I’ll keep you posted if i get in the trade.
