Jpy pairs have been tricky to trade as of the last week!!
We had sell signals on early time frames and still lost the trade because the corrections were not finished on some jpy pairs... like chf/jpy and gbp/jpy
This pair made a 786 retracement , then rejected that area
This pair needs a swing low
I would put my stop loss above the daily candle and not more...
This is not necessarily a trend following idea because the down trend has not been established on higher times (and even as low as the 1 hour time frame)...
We do have a sell signal currently on the 15 min chart (But this is not accurate)
So I would wait for a little extra confirmation and then sell. If you are already in the trade you can hold it.
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These Jpy Pairs were my only losses last week so!!!!! Lets see how this goes.
I would not try to trade this big right now!!!
We had sell signals on early time frames and still lost the trade because the corrections were not finished on some jpy pairs... like chf/jpy and gbp/jpy
This pair made a 786 retracement , then rejected that area
This pair needs a swing low
I would put my stop loss above the daily candle and not more...
This is not necessarily a trend following idea because the down trend has not been established on higher times (and even as low as the 1 hour time frame)...
We do have a sell signal currently on the 15 min chart (But this is not accurate)
So I would wait for a little extra confirmation and then sell. If you are already in the trade you can hold it.
\
These Jpy Pairs were my only losses last week so!!!!! Lets see how this goes.
I would not try to trade this big right now!!!