Currency market: USD/JPY weekly target and EUR/USD day trade
|As posted Sunday for the 9th week of USD/JPY weekly trades.
Long 113.18 and 113.10 to target 113.62. Long above 113.76 to target 114.63. Short 114.63 to target 114.20.
Results: missed bottom entry by 28 pips as USD/JPY traded to lows at 113.46. So 113.76 to 114.63 for +87 pips. Then 114.63 to 114.39 lows so far and +24 pips. Total running +111 pips.
Grand total for 9 weeks +1221 pips.
USD/JPY began the week at neutral, then traded to more neutral at 113.46 and neutral at 114.63. The trade was dangerous as USD/JPY traded in pure neutral territory all week. Any price below 114.75 remains in neutrality.
While profits were 111 pips, USD/JPY traded 132 pip range this week which means we missed 21 of the full 132 traded pips yet scored on + 90% of all traded pips.
USD/CAD for BOC at 10 am traded the exact same trade as the Fed at 2:00 pm and a 4-hour difference. A repeat trade and profits existed if one knew what they were doing but this is not the case in today's world of traded markets. The context to understanding left the building long ago.
EUR/USD for Fed traded 41 pips below and 13 pips above 1.1287. As usual, EUR/USD traded from the bottom support and failed to trade at bottoms. In actuality, the best trade was +41 pips, exit then possibly trade 1.1287 to 1.1300. Then of course comes reversals to profit from far more than 41 and 13 pips.
My interest rate system is the same exact manner traded by every central bank across the planet. The trades are the exact same. See the central bank research for proof.
Charts lie as they fail to show the proper breakdown in prices. A chartist would view the Fed move as 1.1246 to 1.1300 or 54 pips. Market prices are not that easy as traders must understand the context to breakdown to prices, the specific times to trade and know specific entries and exits in advance of the trade.
The chartist today can't teach what is not available to trade. The results will be massive account losses plus fees charged by the chartist.
Today's 3:00 am news candle traded 23 pips and its the biggest candle of the day so far as 5 1/2 hours exist to still profit from day trades if any profits exist.
Foir all the central bank blah blah talk to Inflation, wages, Bond purchases, promise to raise. All this isn't worth a dam anymore to profits as markets died and won't ever return to normality.
The hype doesn't match price movements but hype seems to sell to unsuspected.
EUR/USD day trade
Long Short Line 1.1219.
Most Important 1.1186 and 1.1199 Vs 1.1226, 1.1233, 1.1240, 11247, 1.1261, 1.1268 and 1.1276.
Bottom 1.1162 achieves by 1.1190 and 1.1176.
Upper target 1.1276.
Continuation Fail 1.1247.
EUR/USD today traded so far 1.1220 to 1.1193 or 27 pips or 13 pips per hour for each of 2 day trade hours. Note bottom points at 1.1186, 1.1190 and 1.1199. Perfect as usual despite dead markets.
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