Here is the 240-min chart of USDJPY that I am looking at. Do you see the pattern here?
Here is the chart.
![usdjpy_hs_h4](https://tradergav.com/wp-content/Photos/2010/10/usdjpy_hs_h4.png)
The last GBPUSD trade did not work out as plan. I did cash in some pips at the initial bounce of 1.45, but after that the market just went wild. Here is what I am looking at now. $USDJPY. I did not go in on Friday, I was not convinced with the action. I am looking at around 91.70 ish for potential short opportunity if the market decides to bounce further from current support. Let’s see how it works out.
Here is the chart. (click on the chart to view full version)
It has been a quiet and slow trading week for me. My day job has been keeping me really busy for the past week. (And I really hate the job, I made no secret about that 🙂 ) On trading front, I have been watching the markets everyday, but, hardly found anything that was worth my time and money. Sometimes, you just have to wait until the chart shows you a “Ah Ha” moment, and setup. Trust me, you really don’t need to try hard to convince yourself to take a trade. I finally got one on Friday, Asian morning session. I shorted $USDJPY on Friday morning. And before the closing of U.S session, my risk has been well covered, and now, the position is on the risk-free ride. I am holding the position over weekend. Let’s see how it works out.
During my regular review of my trading journal and plan, I observe the reduce of trading frequency. On average, I made 2 to 3 trades a week. And I am more inclined to trade bigger movement. I am feeling very comfortable with that. The game for me , now, is to scaling up my risk size, and manage it effectively. Most of my time is spent on managing trade instead of searching for entry.
My lifestyle and day j0b are heading to a big change soon, I might talk about that later on.
I am enjoying the sunny, cooling Saturday here, in Melbourne. Have a good one.
While I am still in my Long positions of USDJPY and GBPJPY (this is to answer those who sent me email asking about if I am in the position), I found this video prepared by Adam from market club. What now for Dollar vs Yen relationship?
Another nice free analysis video. Check it out.
I have a dream…I dream of Dollar rallying against yen. So I decided to long $USDJPY…. 😆
This is a swing trade idea. I see USDJPY approaching support area in daily and 4 hourly time frame, and it forms a long setup for me. I am watching closely, in fact, my long orders are waiting now. In addition, this setup is trying to capitalize from the indicators divergence observed as well. On the flip side, breaking below 91 level will negate my setup.
Here is the ….. CHART!