Posts Tagged ‘short’

On gbp usd i dont see anything yet so i look now to get short on usd jpy 4h time frame for a 41 pips stop loss and reward 170 pips or more.
I already put my sell limit and let see how this one will go.
Anyone see something else on usd jpy?

I’ve taken some full size short trades off the UMLs (purple forks). Lets see how we go.

Heres our 100+ pips trade for the day.

Very simple short trade taken off the upper fork line.

30m chart. Trade based on Evening Star (derivative) at area of previous support (change of polarity) and fork line. (Bearish Engulf on the 1 hr could have given a similar trade).

regards – arco

Edit. I have closed this trade off for 120 pips. Very spiky at the moment.

I’ve entered 4 full size short positions off the upper ML with the idea of capturing around 100 pips+ for the day.

Currently I’ve closed one off for 25 pips and looking at the possibility the action may get down to the first shaded area where there is a confluence of fork lines.

GTA – arco

Swissy follow up.

The action has obediently turned at the fork area (highlighted in grey in the last post). I’ve added a potential red slatted fork, and now wait to see if we get a return and test of that new fork before deciding if there is potential for a short trade.

rgds – arco

Hello All

I’m taking a more simplistic Pitchfork view on this chart currently. The Swissy print has given several opportunities for a long or a short of the ML(circled), and I’m now looking for a reversal pattern to set-up potentially in the grey box area where the 2 MLs are positioned. Once we get that we can add a down-trending fork and position ourselves accordingly.

Regards – arco

There may be a potential short today on the Usd.Jpy.

We have seen the action bounce off the ML several times in quite an orderly fashion, but finally it penetrated down through the line. Currently testing the ML for change of polarity. (Support = resistance). So one to watch IMO with a potential to head down to the lower line if we see a confirmed rejection.

Regards – arco