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Thread: USDJPY 2 Oct 2008 5:00 a.m

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    Lightbulb USDJPY 2 Oct 2008 5:00 a.m

    This is the current status according to my model and trading .


    My model shows that trading in the next 4 hours will stay in the range

    Low : 105.65
    High : 106.24

    RSI : is neutral in all time frames

    In the 5 minute chart the market is about to end a down trend the same in the 15 ,30, and 1 hour chart this is @ 5:32

    In the other hand :

    A strong buy signal is flagged on the 1 hour chart and complemented by 1,5,15,30 and 1,4 hours chart to be valid .

    Buy @ : 105.88
    TP @ : +22 pips or how far you want to go ( long term ?? )
    SL : depends on your money management .

    Comment : 4 hours signal lets see if it take profit in the next 4 hours


    Will keep you updated

    Best Regards

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    Post USDJPY 2 Oct 2008 8:00 a.m

    This is the current updated status according to my model and trading .


    My model shows that trading in the next 4 hours will stay in the range

    Low : 105.59
    High : 106.24

    RSI : is neutral in all time frames

    In the 5 minute chart the market ended the down trend that i talked about and now is moving inside my indicator levels in all time frame an Up trend is to take place in the next few hours as my model pretend so lets wait and see how long will it be



    Will keep you updated

    Best Regards

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    Post The up trend declines - USDJPY 2 Oct 2008 12:00 a.m

    All time frames shows the same as the 30 minutes screenshot that i took they all have the same end ---- \/ --------- this triangle somehow happens to end lots of down trends so lets see .


    My model had in the H4 the support level @ 105.59 now this is broken lets check the next support level that my model shows ..... hmmm

    For the whole day the support level is @ 104.47 but for now :

    The uptrend that took place at the start of the day was 5 periods long on the 30 minutes chart then a 3 periods down trend then the market goes neutral and an uptrend starts and stays for 1 period then declines to a 5 period down trend so likely an uptrend is coming so lets watch and see what happens .

    Actually on the 1 minute chart it started to go in an uptrend cycle but on the other periods it's not yet confirmed so lets ride the roller coaster till now it has been a fun ride .

    Will keep you updated how it turns out

    Best Regards
    Attached Thumbnails Attached Thumbnails analysis.jpg  
    Last edited by galvar; 10-02-2008 at 09:43 AM. Reason: Uploaded screenshot from my plateform

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    Post End of day commentry

    The uptrend i talked about in the previous ended with a high 105.75 which confirmed that my open positions @ 105.87 will stay Long


    The day closed @ 105.32 exactly at the down limit of the H4 time frame indicator .

    The day was a down trend from 106.92 to 105.09 where in the first 4 Hours of the day the prices moved in the limit of my model indicators then in the next 3 Periods on the 4 hours chart it moved in a down trend and closed as a down trend .



    Conclusion : Today trade is Long no other trades will be opened by me till current positions closes .


    Will keep you updated

    Best Regards

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    Default

    for now Usd/jpy is on neutral ... a break above 102.20 will indicate a strong bull ,while a move down 99.80 will indcate a bear run has continued from 110 last month....

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    Default

    you can sell now USD/JPY

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    Default

    Grats , I expect that you have acheived good profit from trading USD/JPY.
    Thank you for sharing these informations.

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