美元 / 日圓看空
USDJPY SHORT 160.800 SL & TP ON CHART
已更新
Trying to maintain posting every trade I enter on main account here for record - some slip through without me posting but I shall try keep up with them in future.
This is a short term swing position with long term prospects, not 100% confident that this is the top would probably say with around 70% confidence that 160.800 will form a double top on the 1hr timeframe and look to bring price back down to 160.400 for a test of support.
This is the short term swing prospect.
If 160.400 fails to support price does not have much strong support until 159.500, failing that we could see some significant downside towards 158.000 as price levels in between are not so significant. This is where the long term prospect comes in, I would be looking to hold this position if it were to play out. Downside potential is massive.
USDJPY coming back over 160.000 will have likely triggered a need for a second intervention between the BOJ & Japanese gov to ensure survival of their native currency which is currently being decimated.
I had explained in a mind post my opinion on why I think the second intervention is the real deal & how the first was probably minimum effort hence why there wasn't much of a comeback from the yen. Due to the fact the Japs are such a proud people you have to nuke them twice before they put their hands up, they wont listen the first time they'll keep fighting. Now they have been nuked again, we have went over the trigger limit for intervention im expecting something real to be done this time.
An addition to this trade is the dollar index (DXY) sitting in a nice position for retracement 106.000 this is a major resistance the dollar has to get through before possibly reaching 107.000, where I would be looking at potentially entering this trade again
Using 0.5%-1% risk per trade
Always trade with SL & use sensible risk management
This is a short term swing position with long term prospects, not 100% confident that this is the top would probably say with around 70% confidence that 160.800 will form a double top on the 1hr timeframe and look to bring price back down to 160.400 for a test of support.
This is the short term swing prospect.
If 160.400 fails to support price does not have much strong support until 159.500, failing that we could see some significant downside towards 158.000 as price levels in between are not so significant. This is where the long term prospect comes in, I would be looking to hold this position if it were to play out. Downside potential is massive.
USDJPY coming back over 160.000 will have likely triggered a need for a second intervention between the BOJ & Japanese gov to ensure survival of their native currency which is currently being decimated.
I had explained in a mind post my opinion on why I think the second intervention is the real deal & how the first was probably minimum effort hence why there wasn't much of a comeback from the yen. Due to the fact the Japs are such a proud people you have to nuke them twice before they put their hands up, they wont listen the first time they'll keep fighting. Now they have been nuked again, we have went over the trigger limit for intervention im expecting something real to be done this time.
An addition to this trade is the dollar index (DXY) sitting in a nice position for retracement 106.000 this is a major resistance the dollar has to get through before possibly reaching 107.000, where I would be looking at potentially entering this trade again
Using 0.5%-1% risk per trade
Always trade with SL & use sensible risk management
註釋
Trade closed break-even bias still remains, timing was off, I still look for Friday profit taking from buyers to finish the day red....as its getting wild now.
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