forex scalping update in eurjpy trade
The target in 129,99 for the forex scalping trade in eurjpy was hit minutes ago and we rest for the day since it is Friday.Unless we see something extraordinary have a nice weekend.
A forex scalping strategy I use is to take trades with bullish flags specially when these develop in the London open
We have optimism in Eurozone concerning Greece since the meeting between Tsipras and Merkel last evening so,we have long ej in the London open
I will close this forex scalping in a while in 129,99
Below is the two charts I am using in 30 seconds and 10 seconds from Northern lights
This is a contrarian aproach to Barclays Trade Of The Week: Sell EUR/JPY
19 Apr 2015 18:12 EDT
Currency investors should consider selling EUR/JPY this week, advises Barclays Capital in its weekly FX pick clients.
“We remain bearish on EURJPY from a fundamental viewpoint given the elevated uncertainty around Greece’s solvency and increased risks of failed negotiations with the Eurogroup on 24 April,” Barclays says as a rationale behind this call.
In line with this view, Barclays recommends selling a 1-week 25-delta EURJPY risk reversal (call sale/put purchase) for a cost of 4.4bp (strikes: 126.90 and 129.94, atmf =128.49, atm vol = 12.42%, spot ref = 128.48).
EUR/USD: Following the triangle path. After an initial dip the pair continued to trade higher (within wave c of the triangle). The bullish key day reversal candle (here seen as an upside continuation pattern) argues for more buying within shortly so look for a similar price action as yesterday with an initial dip (i.e. intraday traders should be looking to pick up a few euros on this dip 1.0789-75) and thereafter another move higher. The triangle scenario calls for the move higher to stall in the 1.0940-area.
The forex trade in AUDJPY we gave in 18-4-2015 is progressing well.
Take profit one hit 91,73 and we moved stop loss to breakeven to 92,73 .
The Aussie dollar’s reality check
The afterglow that followed the People’s Bank of China’s decision to reduce the reserve requirement ratio was short-lived, and the Australian dollar edged lower yesterday after an initial jump.
Having advanced US2c in two weeks, the Aussie touched a near one-month high of US78.44c in Monday’s early trade, before retreating on profit-taking, jawboning by Glenn Stevens and diminished risk appetite amid Greek debt concerns.
The Australian dollar appears to have entered another holding pattern and is struggling to break outside key support and resistance levels. Traders and investors watched the RBA’s monetary policy meeting minutes for further strategy guidance. The meeting notes suggested that another rate cut was on the cards and the local unit edged marginally lower. The downward dip in the dollar has found support on moves below 0.7690 as investors square positions ahead of tomorrow’s quarterly CPI account. A stable print is expected.
By all indications, the RBA is still determined to drive the local unit lower, since it remains “above fundamental expectations” given current commodity prices.
Given the AUD/USD has recovered to the same levels seen around the time of the March rate decision (and is nearly US2c higher than when the RBA left rates on hold in April), further cuts look to be on the cards.
A possible trade in audjpy for next week
double top at previous swing high and resistance at 93.05 and 50-days SMA.
1.Take the trades in two parts
2.First part would be closed at first TP target
3.Stop loss is then moved to break-even
4.Second part would be closed at second TP target
If 90 percent of first target is reached without triggering entry I cancel the trade
If 90 percent of first target is reached I move stop loss to breakeven.
LOSING IS PART OF THE GAME
Good morning everyone,
The general trend in gbpjpy is bearish but the last four days the pair made a reversal in the daily chart.
Last night the daily candle came back and touched the falling trending line and this fact we took advantage.
A forex scalping trade with possible intraday swing trade for a total profit of approximately 250 pips if it retest the lows.
Good evening everyone,
We have a forex scalping in eurjpy in New York which is currently in +30 pips and we will close it.We choose the entry due to the fact that in this time waters are calm and yesterday daily candle was a hansom pinbar. EURJPY was in a calm consolidation and the small breakout developed nicelly.
I have entered in 128,005 and I am taking profit in 128,38
I have add some positions in my gbpjpy short forex scalping and defended the Archemedes box on the opposite side in 176,70
Currently we are at +30 pips and we will close the scalping in order to proceed with the swing trade if it comes.
Stop will move in breakeven for the next level.
We are at the point were gbpjpy is retesting the breakout point that happened at 10.25 in London open this morning.
So we can enter for forex scalping with minimal stop loss of 15 pips and take a scalp of at least 10 pips.This forex scalping can lead us in a swing trade since we are scalping in the daily candle direction.
Today I have sit in my hands and I didn’t took any trades in the morning and not in US since there was news for the pound and the dollar.
I was waiting the waters to calm in order to jump in.
I found a scalping forex opportunity in audjpy in 30 seconds chart with divergence which can lead in intraday or even a swing trade.
Took the first 10 pips as scalping and let the rest to breakeven.
Stop loss hit for the remaining 2/3 after this.
Have a nice evening