The USDJPY has gone straight up since our last post. If you bought at 92.08 and then bought at the Tenkan Sen Test you would’ve bought again around 92.33. Giving you an average cost around 92.20. At this point if your a short termer you can take 50 pips profit on half and bring our stop to Break Even. If your a long termer hoping this will trade up to 94.50. then you may have to take some heat and use the Kijun Sen plus a buffer or a break below the cloud, you can also stop on half the position at break even to reduce risk. Im still looking to sell half above 93. We will say 93.20 to make it an even 100 pips, or anywhere in that area. Don’t be focused on an exact price. The point of profit taking is to “take profit” It does not matter if it goes exactly to the price you want it to go too.
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose