USD/JPY S -17500
USD/JPY L 29000
USD/JPY L 123000
today's 15th, so please check past post ; http://yuforex777.blogspot.com/2010/01/trading-method-by-short-supply-of.html
According to this method,
at 8:00 to 10:00 am(JPN time) we buy USD/JPY.
at 10:00 am (JPN time) we sell USD/JPY.
today i slept until noon... -_-zzz
so I did not trade, but this trading method could be used today's too.
at 8:00 to 10:00 am, it was difficult to have long entry, so in this case let's see how to make loss cut to have minimum loss like less than 10 pips, then let's see next short position trade after 10:00 am, it was at 91.18 level for USD/JPY, no matter we make stop at 10 pips to 20 pips, USD/JPY dropped to 90.649 without loss cut, right? so it means we could get 50pips as well, if I were in the morning market today at Japan time, I make loss -10pis at 8:00 to 10:00 am, I make profit +15pips of 50 pips, then I could have + 5 pips profit. It is more important to have minimum loss than max profit in my theory, huge profit has always a critical draw down, we should not forget about it. Today we will have index just before NY market opens, Let's see USD would be down as the USDJPY analyze for short to middle term. :)
Have a good trade!
