Comment by Salman Dhedhi on March 8, 2013 at 11:45am

truely risky trade in both side short and long 

Comment by Peter jcp on March 8, 2013 at 12:14pm

Hi Athit - the UJ is not one of my normal yen crosses to intraday trade - as too slow. Checking it out I notice price as gone up to 95.79 and is still in its short term up channel. The first price I can now sell from is 95.58- and then I can only hold if price drops under 95.37.

Whilst we stay above 95. 63 - it still trying higher - but as you say with it being NFP day - anything might happen over next 2- 5 hrs .

Good Luck and will keep an eye on later 

Regards 

Peter

Comment by pandora on March 8, 2013 at 4:09pm

hmm prize is now 96.18 ,,what happen ?

Comment by Athit Rungcharoenkitkul on March 8, 2013 at 9:42pm

Bad call..it way overshoot the target. 
Let's see when this weekly bar complete.
Confirmed failure if the weekly bar closed above 96. Then wait for correction in 4-hour timeframe at around 95.20-95.35 (33-38.2% correction) to exit the trade. Price cannot continue to rise forever.

Weekly chart

 

4-hour chart

Comment by majimaji on March 9, 2013 at 8:02am

I think in this situation its less about technicals and more about what BOJ is actually doing

Comment by Igor Titara on March 9, 2013 at 7:49pm

Hello Athit, i agree with your charts. Athit, what the name of this template? very useful to read.

Comment by Athit Rungcharoenkitkul on March 10, 2013 at 12:02am

Hi Igor, simple tools.. MA ribbon, ATR channel, display price, and bartime on the main chart, MACD and Stochastic MA in the middle, then RSI and RSIMA at the bottom.

Comment by Igor Titara on March 10, 2013 at 1:20am

thx mate.

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