Currency market: USD/JPY, day trade time change, ACI
|Week 15 and 1875 pips to USD/JPY's weekly trades. Week 15 results run into the first problem. The trade as follows: Short 115.30 and 115.42 to target 114.59. USD/JPY now trades 116.74 and 132 pips off entry. USD/JPY for the week rose with EUR/USD but failed to drop when EUR/USD fell.
Now the question is what's the next move. My recommended option is add 1 lot and trade to entry or to target. Trade to entry results in + 132 pips and exit the first lot. Trade to target results in 2 lots at +215 pips and 83 pips.
Remember 2 trades past when entry was off 80 and 95 pips. Both trades added 1 lot and both trades achieved target perfectly. The added lot was unexpected but the result was more pips to the week than expected. The best part was trading without losses.
If a loss was realized then week 16 begins at 1775 pips. If a voting public existed then I would accept a majority opinion but what I see is these articles achieve front page status for 10 minutes then discarded into the dungeon and lost to eternity. Why bother posting articles is my question. The result is time lost and zero consequences and despite a huge huge following.
If I was in this 24 hour a day thing and living strange hours for followers then a psychiatrist is required. Subscriptions and assistance is the only offer. If either drops then I'm gone as I have many more passionate interests to pursue. Much is going on in my state legislature and a short distance to travel.
Far more gains and assistance exists to traders by youtube posts if I use my whiteboards to draw and teach many many concepts not known or understood in the written word. Plus I offer trades. The highlight this week so far is the GBP/USD, EUR/JPY and USD/CAD relationships. The commonality is same supports levels yet different targets for 3 trade combos.
Overall, are we worried about 100 pips for USD/JPY when Sunday's post highlighted long EUR/USD and EUR cross pairs. EUR/USD alone traded 200 pips higher as well as EUR cross pairs. The result is 1000 ish pips with ease.
The current 3 to 6 month period is a trading dream for massive profits. Remember posts from long ago in relation to long-term targets. Every 2 years, currency prices are so far gone and off track, trade results to targets are in the 3 -6 and 800 pips vicinity. EUR/USD to 1.1300's for example.
USD/JPY currently trades in the overbought richter scale and minimum target is located at 115.78 and 115.51. Think about this. Short Anywhere for next week as we are short anyway.
Next week's time change means day trades run 9:30 pm est to 2:30 am est then 2:30 am to 10:00 am est.
Lastly, ACI for FX certification to the New Version exam exists in the United States but traders must travel to Cleveland. If a member of a trading firm then ACI works out a secure link through the firm to allow traders an opportunity to take the exam.
Independents such as me are in a bad position as $300 for the exam and travel expenses to Cleveland is not worth my trouble for certification. So far, I'm out to certification as this secure link option is not working well as of this writing.
Not only is Inside the Currency Market recommended as a study guide for the exam but I could write the exam questions. Que sera sera as they say in Barcelona.
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