Euro/yen

[marc walton]

If you are looking for trades on this pair, what do you see? Alternatively if you had a recent trade & want to discuss it, then here is the place. Feel free to post charts/screenshots etc

[Trade Spotting]

Hi guys,

Anyone else see, or stalking, the wedge/symmetrical triangle forming on the EJ (4 hr)? Not huge though...maybe only 300 pips in it.

BTW: Is Thurs 3.38 pm here in Sydney as I write. Thursday 6.38am London

[4maT]

Hi trade spotting,

I spotted it too, I hope i have a similar setup as you.
Now let's wait if it breaks out


4maT

[raa]

From my own observations, in recent months triangles mostly did not work, price did not respect it, breaking both trend lines with ease.. Horizontal levels have been way more functional..

[raa]

So the EJ made a definitive move just now, through the last week lows, I think it is safe to assume we may enjoy a nice trade on a pull back to the trend line. All indicators now are in red, so it is a sell.

[Big pippin]

Eur/jpy broke trendline, looking for a pullback on the 4 hour does anyone else see this breakout? I'm looking for pullback to the trendline @ 112.30, this is looking promising below the EMA's on the 4 hour chart placing s/l @ 112.70, above 4 hr 200 EMA, I'm not giving out tips just want to see if anyones placing the same trades as myself... just a lil reassurance

[capsmart]

Hello Big pippin and welcome to the club since this is your first post.
The logic break out - pullback - entry is sound. I would say that the brake of the 200 ema on the 4h was good enough (in hindsight lol). Hope you got your trade and counting your profits now.
Hope you moved your stop loss and got some profit out of it already.

[raa]

Yeah, great move, FOMC produced some long-awaited change in dynamics. I look to sell EJ according to MACD3 at 111.75 (M15).

[PabloOnFX]

Originally Posted by raa

Yeah, great move, FOMC produced some long-awaited change in dynamics. I look to sell EJ according to MACD3 at 111.75 (M15).

Raa

according to my indi, MPV is at 111.59.

For you now, it means current PA has to break this point to reach 111.75.

If it does, I would read it that as a questionable rejection of a short?

Pablo

[raa]

Pablo, what is MPV? Anyway, the way I trade a proven ready-made system is by not adding something not belonging there. MACD3 does not use Fibo, EMA (except 6, 12), pivots, etc, and it works awesomely. I have a set of different charts for MACD3, which has only the information required. I really think information overload is much more harm than good. Don't touch something that does work fine.

EJ level need to be changed.