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Sunday, June 15, 2008

Forex trading (Currency Trading) EUR JPY June 15, 2008.

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Dear readers,

I "normally" do not trade/work on weekends and evenings, but I just checked the market, and noticed that EUR/JPY has gapped up at the open. Since the equities finished up last Friday, it is expected. I will explain this point later. BUT, if you are like me and you want to play a short term trade (for the next few hours to early hours of tomorrow Monday (US time)), here is what I am doing.

I am trading with a reduced position (half of normal size).

8:30ishPM: I entered into 1/8 of intended size. Entry done in 166.55 area. I am scaling in. I will post a screen shot.

8:58PM: as predicted she reacted. I added a second 1/8 in area of 166.69.

9:01PM: another 1/8 is added in area of 166.7ish.

9:07PM: the fourth 1/8 of intended size has been added.

(Level to watch for is 166.85).

9:15PM: added more. My first radar is reporting sellers at mile 166.80 to 166.85 as we calculated earlier.

9:18PM: added more. Now the move up should be complete, and I am going to eat. I will give it time while I eat!

I closed this trade few hours later (on the early hours of June 16). It made few pips (around 5 to 10 pips), but nothing to making super rich. Chart of when and where I closed it is attached.

I would like to point out that the top for the time range considered above was indeed found in the area where it was forecast (in the area of 166.80 to 166.85.

Happy trading!

Edits/notes (evening of June 15):

1. I uploaded a copy of what I entered now.
2. My radar tells me that the sellers are now in area of 166.80 (as analyzed in previous posts).
3. Intended first target is in area of 165.80 to 166.00
4. At 8:54PM: I am already up 10PIPs (but she may reacts as the sellers are really a bit higher, but I am not done entering).
5. Now I have to enter management mode of current trade.
6. Send me an email (addess is below). You can send an empty email, it is fine.
I will share with my readers some secrets, and also I plan to put a room by invitation only to test some secrets. I will explain in the future.

Forgive my typos, but the message is more important than the style.

Happy trading

Email is:

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Happy trading,


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