TV

Ian Coleman - First 4 Trading
Ian Coleman is looking at USDJPY, and suggests selling at the open and at 102.40 with a stop at 102.60. For the third day in succession levels above 102.65 found sellers. This resulted in the trend of five higher daily highs being broken.
Trade view / 10 January 2013 at 6:36 GMT

EURJPY - Bearish Triangle Top; Ample risk/reward to sell

Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Analyst / First 4 Trading
United Kingdom

Trade Parameters

  • Position: Sell at the market
  • Targets: 114.60, 114.11 and towards 113.60
  • Initial Stop: 115.25

Key points for this trading idea

EURJPY – The cross traded within our trigger parameters yesterday as EURJPY holds within this intraday (bearish) triangle formation. Trading overnight has resulted in the trend of lower highs (from 115.99-115.55) being tested. A mild rejection has been posted and although we need to see a break of 114.60 to confirm the bearish momentum, the bias is assessed to be negative. In view of these facts our call is a cautious sell with a stop at 115.25

Trade management: A move through 114.60 and we look to move the stop on balances to entry.

Risk: The risk however would be with buying through a stop of 115.25, clear break of trend.

4 hour Chart:

EURJPY 4hr

Disclaimer Statement
The analysis, data, and any visual graphic charts or pictures contained herein are provided “as is” and without warranty of any kind, either expressed or implied. First4Trading or any First4Trading affiliates or employees, or any third party data provider, shall not have any liability for any loss sustained by anyone who has relied on the information contained in any First4Trading publication.   All products and services of First4Trading are sold as information services for investors and traders, and are not recommendations to buy or sell securities, nor an offer to buy or sell securities. The publishers of First4Trading and all other products and services of First4Trading are not brokers and are not acting in any way to influence the purchase or sale of any security. The information provided is obtained from sources deemed reliable, but is not guaranteed as to accuracy or completeness. All opinions expressed herein are subject to change without notice, and you should always obtain current information and perform due diligence before trading.   First4Trading publishes their simulated trading record. Past performance is not a guarantee of future results. The Subscriber of First4Trading educational service agrees they will not hold First4Trading or any of its employees, partners, and/or affiliates liable for any trading decisions or actions taken by the Subscriber based directly on the educational posts placed in the live trading room.   We recommend that anyone trading financial markets should do so with caution and consult with a qualified independent financial advisor or professional investment consultant before doing so. Trading can be a risky proposition, and speculators may lose more than their original account deposit.   The act of subscribing to this website acknowledges your agreement to the terms and conditions stated herein.

Risk Warning
Trading spot foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you.

1y
warsurfer warsurfer
Nice call !!
I shorted EUR-JPY @ 115.084... My entry is still ok, right ?
:)
1y
osama osama
good morning Ian what do you think about audusd ???
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Sure.. entry good unless 115.25 is taken
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Morning.. looking to Buy dips 1.0530 is prime
1y
osama osama
thank you .....
1y
warsurfer warsurfer
Just got stopped out
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
yep.. it was a very tight stop (to keep risk/reward at a good level).
1y
warsurfer warsurfer
It was a good tip anyway ! Low risk trade :)
1y
warsurfer warsurfer
Now that it has broken 115.25, from your opinion, do you see it going up further today?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
it turn mixed here.. we have resistance in EURUSD at 1.3070
1y
Yogesh Sinha Yogesh Sinha
shorted from 1.15357 and scalped 8 pips.

Disclaimer

The Saxo Bank Group provides an execution-only service and all information provided on Tradingfloor.com is solely for general information. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com. Any information which could be construed as investment research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such should be considered as a marketing communication. Furthermore it is not subject to any prohibition on dealing ahead of the dissemination of investment research. Please read our disclaimers:
- Notification on Non-Independent Investment Research
- Full disclaimer

Show latest activity
Dismiss
Sorry, there was a problem communicating with the TradingFloor.com servers. We are working hard to solve this. Please try again later.
Oops! There was a problem communicating with the OpenAPI Portfolio service.
Oops! There was a problem communicating with the OpenAPI History service.
Oops! There was a problem communicating with the OpenAPI Reference service.
Oops! There was a problem communicating with the OpenAPI Root service.
Oops! There was a problem communicating with the OpenAPI Trading service.
Sorry, there was a problem communicating with the Financial Calender servers. We are working hard to solve this. Please try again later.
Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail