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May 5th (+9 pips)

5/5/2017

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Trade 1 Long USDJPY (-20,+29 pips)

a good technical set up, i have been looking for a chance to getlong but only a couple of hours to the US Jobs data whichadds a degree of caution.  The forex brokers have adjusted there margin requirements in advance of the weekend French election which means position size is relatively small, i did not want touse all om powder in this one shot.  The $ may have completed a 3 wave pullback in its ongoing rise against the Yen, as long as short term dips remain above 111 I will continue to be a buyer of this pair.  The hourly target would be 113 but the daily chart is showing th epossibility of significantly higher values, it is unlikely that the rise will really get going until the dollar index completes its current pullback which, I think is likely to end next week.
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    Steve Tobin
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RetiredearlyFX is a trading name of the investment company Bagehotsway.
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  • Home
  • How it works
    • How to Make 100k with Forex
    • Plummer Wave Trading
    • Economic Surprise Index Methodology
    • Mathematical FX model
    • The Complete Plan
    • Invest
    • What is Social Trading?
    • FXTM
  • Info
    • The Trading Plan >
      • Trade Targets
      • Waves
      • What is a Plummer Wave?
      • Wave Trading
      • Forecasting the Market
      • Weekly Waves >
        • Cycles and the Indices
    • Education >
      • Positon Size and Risk
      • Beginners Corner >
        • New To Forex
        • How To Start Trading with $50
      • Top 10 Forex Websites
      • Economics >
        • Economic Surprise >
          • Economic surprise July
        • What drives Prices ?
      • Trading Needs
      • Points of Interest >
        • Facebook Wave analysis
        • Forecasting EURGBP
        • NZDUSD Long Forex Trade?
        • Gold A Technical Study
        • USDJPY Forecasts
    • Predictions Archive >
      • Forex Predictions May 2017
      • Free Forex Signals May
      • 24th April
      • US Stocks
      • USD Crosses Forex Prediction
      • European Stocks
      • Euro Crosses
      • ANZAC currencies
      • GBP Crosses
      • Asian Stocks
    • Members Area >
      • Trade History >
        • Journal Charts 2018
        • Journal Charts
    • Risk Disclosure
    • Project $100K >
      • Project 100k Archive >
        • Project 100K part 2
        • Project 100k Attempt 1 Review
        • Trade 1 Project 100k
        • Trade 2 Project 100k
        • Trade 3 Project 100K
        • Trade 4 project 100k
        • Trade 5 Project $100k
  • Trade Ideas
    • Trades Blog
    • economic blog
  • About
    • Company
    • Contact