USD/JPY buy, 150 pips profit

From my buy entry in this post, I was able to bank 150 pips profit. I forgot to make a screenshot of my closed trade yesterday and the platform that I am using always reset the list after the New York market close.

Looking at the oscillators, I can say that the price will still go higher. But I would like to see a breakout first from that resistance line and make it as a support.

If I am correct, the next target for the price is somewhere at 120.0-121.0 level which can be seen in the weekly chart.

USD/JPY sell close, buy entry

I decided to close my short just now in USD/JPY because it did not continue to go lower. If I had close my trade earlier, I might bank some 20-30 pips profit. But since I was late, I got a -14.8 pips loss.

Now I set a buy market entry because of the Bullish divergence from the lower lows of the price against the higher lows from both the oscillators. The price might test again the descending trendline to support the downward trend or will try to test the other descending trendline started from June of 2015.

USD/JPY sell

I placed a buy entry in this pair earlier when I noticed the following:

1. Hidden bearish divergence from the lower high of the prices against the stochastic's higher high and MACD histogram.

2. Stochastic lines already pass the 50 level.

3. MACD histogram is descending.

4. MACD and signal line about to crossover.

Currently having 30 pips profit but earlier it reached around 100 pips. Hoping that the price continue to breakout that resistance line.

USD/CAD buy entry removed

After the report about FOMC the USD became weak. The breakout that I was waiting did not happen and the price decide to stay below the descending trendline. The stochastic lines stayed below the oversold level and made a crossover going down giving a signal that the price is still going down. On the MACD indicatot, the histogram made a small bar over the 0 level then start to make a bar under.

Because of these I decided to remove my buy entry and just wait for signal/s of trend reversal in the coming days.

USD/CAD buy entry

Setup a buy entry in this pair, my reasons:

1. Weekly chart is showing a bullish divergence from the recent higher lows against the stochastic indicator lines lower lows but in the MACD it is in the histogram which gives lower lows.

2. Daily chart looks like the price is about to breakout from the descending trendline. Stochastic lines are rising from the oversold area. While a crossover from the MACD and signal lines, and histogram is starting to form over the 0 level.

My buy entry is position few pips above the most recent high swing. But if the price failed to breakout then I will just remove my buy entry.

GBP/USD loss

Another loss for me in this month.

I failed to notice that the price formed a descending channel thus disregards the descending line which I thought was the start of a breakout.

My loss is -160.8 pips from a three day trading.

Now I am thinking to go with the downward trend since the price touches the upper line of the channel. Or just wait for a breakout from the channel then set a trade.

GBP/USD buy entry

I have set a buy entry few pips above the minor resistant level on this pair for the following reasons:

1. Price is trying to breakout from the descending trendline
2. Hidden bullish divergence from recent lower lows against the higher lows of the oscillators
3. Stochastic lines reaching the overbought area
4. MACD line looks like going to pass thru the zero level upwards.

My buy entry can be hit tomorrow or on the first few days of next week. But if the price failed to breakout from the descending trendline, then I will remove my buy entry.

EUR/USD and EUR/GBP loss

Both my EUR/USD and EUR/GBP stoploss got hit when they released the news regarding the EURO earlier this day.

From EUR/USD pair I got 122.5 pips from my first position but -91.4 pips on the other.

On EUR/GBP I got -118 pips after moving my stoploss near the trendline.

I think I should consider checking the big news that will affect my trades and set a trailing stoploss just to lock in some profit before the price goes to the other way.

EUR/GBP sell update

This pair hit my entry position then decided to get back up a little. But as long as the price will stay below the ascending trendline then I can still say that it is a breakout. I re-positioned my stoploss a few pips above the trendline just incase that this is just a fakeout.

EUR/USD sell update

This week might not be good for me. One of my two open position decreased to about 190 pips and the other one is -40 pips. I just moved both my stoploss at the top of the most recent swing high and if the trend just change then it will be hit by next week. But if the trend continues to go lower then I might add some more short trade.

EUR/GBP potential short trade update

This is an update of my recent post regarding this pair (link here).The price is testing again the ascending trendline but it seems that this time it is about to break. I don't mind if I didn't start on the top of the swing and set the sell. My focus is ride the trend and make the most of it.

The stochastic K line is near the 50 mark which will be a good sign to make the sell when it cross the mark.

The MACD line just cross over the signal line which is a signal to make the short trade.

My plan is to wait for the last candle on the chart for this day and try to make a market entry tomorrow.