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Clive Lambert - FuturesTechs
The FTSE could be on the cusp of a sell signal as the last four to five months are looking like a big head-and-shoulders, says Clive Lambert of FuturesTechs. He targets 6,260 if the neckline pattern at 6,688 is broken.
Day trade
Trade view / 04 October 2016 at 13:31 GMT

USDJPY on the move and what to do with it

Analyst / PIA First
United Kingdom
Background
Just taken a USDJPY short (2 units). Here is why and how I want to play the trade. Will most likely be off before NFP on Friday (Non-farm Payrolls) 

Monthly: Highlights three inside months, a clear sign of investor indecision. We are between the 50% and 61.8% pullback levels at 100.57-94.61. Trendline support (channel base) is at 97.60
USDJPY M
Source: Saxo Bank. Create your own charts with Saxo Trader click here to learn more

Weekly: Highlights a bearish five-wave count completed. However, we have no clear indication of a change of trend and could easily see a fifth wave extension (Elliott Wave). Parity (100.00) is being a substantial level to break 
USDJPY W
Source: Saxo Bank
 
Intraday (one-hour chart) – We have stalled at our zone of bespoke resistance (102.55-90). The two-hour chart has highlighted a DeMark correction 9. We have a 261.8% extension at 102.44 (from 100.07-100.98)
USDJPY 1
Source: Saxo Bank
 
Ten minute (trigger chart) – We have an Ending Wedge formation. On a break the target is 102.05. This is backed up by bearish divergence. The 30-minute chart has given us an Evening Doji Star
USDJPY 10
Source: Saxo Bank 

This trade has filled our criteria of system (Grey Box), Reactive (Evening Doji Star) and Predictive (Sell Zone).


Management and risk description
This is counter trend so not leaving any units on to run. 

Parameters

Entry: short two units at 102.53

Stop: 103.05

Target: 102.05 and 101.75 (2nd depending on price action)

Time horizon: 2 sessions

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
04 October
AlexF AlexF
Humm....not sure
04 October
AlexF AlexF
GL
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
thanks ... just sticking to my system
04 October
Cristian Javier Dieguez Cristian Javier Dieguez
Is this trade on going or out?
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
still on ..... stops above the band of resistance... needs to turn now
04 October
Cristian Javier Dieguez Cristian Javier Dieguez
Excellent! thanks
04 October
seas seas
Is there somewhat of a triple bottom on the daily I see?
04 October
baralos baralos
is there any stop or we watch it going toward 104.00?
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
don't want to see a daily close above 102.99
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
need to watch 10 minutes for a confirmed Head and Shoulders top
04 October
baralos baralos
seems like we have one!!! lets see
04 October
AlexF AlexF
Looking at it as well but if US500 close stronger you can probably see USDJPY going up again into close
04 October
AlexF AlexF
Go a great day just to see it wasted by my saxoselect discretionary strategy awfull what the guys has done...
04 October
AlexF AlexF
Hi ian u look at hourly chart to confirm the head and shoulder, on 5 min its gone
04 October
AlexF AlexF
US500 coming back up
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
yep... nasty day ... few shockers in there ....... we caught the down move in SP but nothings holding.....
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I need to be a lot more vigilant with my system ..........
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
letting bad trades run ... too far
04 October
Cristian Javier Dieguez Cristian Javier Dieguez
so? we go out here? wait tomorrow?
04 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am holding ... but not for much longer
04 October
AlexF AlexF
USDJPY up GBPUSD down...dollards strenghts..
04 October
AlexF AlexF
could be dangerous on upside overnight
04 October
AlexF AlexF
Also USDTRY up 1.4%
04 October
AlexF AlexF
Personnally was short GBPUSD but got out way too early and long USDJPY this morning and got out 102.8
04 October
Cristian Javier Dieguez Cristian Javier Dieguez
I´ll hold here a litlle bit but IAN if you go out please tell us. Thanks both
04 October
AlexF AlexF
I do not see how USD selling come happen now could be overnight or tomorrow meanwhile upside risk
04 October
baralos baralos
i see 103.50 then sell usd!! assumption.
04 October
Andrew Perkins Andrew Perkins
Hi Ian I'm having a tradeing holiday got battered over the last month, by the way change the name from dj tintin looks better hope your well been chasing the market when the market needs to come to me
05 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Hi Andrew ... all good. Welcome back

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