Forex blog – JPY forex fan

A forex blog about making pips in any currency pair

Welcome to my forex blog. I am a great believer in luck and I find that the harder and smarter I work the luckier I get. :-)
June 29th, 2010

Trade #38: Didn’t work out.

jpyforexfan

The dojis I was seeing turned out to be quite dodgy. Nasty little rascals. :-)

In a nutshell, got stopped out for a 206-pip loss. Life is a breeze. For some.

June 26th, 2010

Trade #38: Patience needed

jpyforexfan

We’ve got two really nice dojis formed on the EURJPY daily chart. The wicks are quite long, and in the direction of the (preceding) trend, so if my reasoning is right, we will see a good upward move next week.
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Also, EUR/USD supports my view:

It’s 04:43am GMT, Thursday.

Yesterday’s candle has a long lower wick which should indicate the end of the 3-day downtrend, as yen buying would weaken. (Or so I would want it to be, as I hold a long EURJPY, wouldn’t I? :-)

Here’s the daily chart as of now:

June 23rd, 2010

Trade #38: Buy EUR/JPY @110.19

jpyforexfan

It’s 14:50 GMT. I’m opening a long EUR/JPY at 110.19 (Yeah, quite stubborn, aren’t I?)
Stop as per the trading plan.
Target above 114.

Here’s the daily chart as of now: