Day by Day, hourly analysis of EUR/JPY currency cross on the foreign currency market (FOREX). Sell and Buy signals on a technical basis Use signals at your own discretion.

Thursday, September 30, 2010

09/30/2010 AM Update


PA opened very close to yesterday's high (<10 pips). In my previous post, I was anticipating a test and break of the 100 & 300 EMAs around the next open (e.g. TODAY). It took one test and mild rebound before it broke the 100 EMA and then flew through the 300 EMA as well with no major resistance.

My entry was slightly below the 100 EMA above the FPV @ 113.929 where I had my limit order from yesterday. I normally don't try to "ride the wave" throughout the move, and settle for the first major pivot point to get out, in this case S1 @ 113.652. Even though PA continued downward, matching the previous magnitude when I traded, we all must sleep.

For those pulling an all-nighter, you would have seen PA fly past yesterday's low, and hitting MS4 for a total of about 90 pips. PA has since rebounded off the MS4 and is piercing the 100 & 300 EMAs to the upside. Currently looks like a good long opportunity, but I'm going back to bed, done for today ;)


Summmary

Short signal @ 113.929 with PA passing through 100 EMA significantly = 25 pips TP @ S1 "113.652"

New Buy signal @ 5:30 AM, PA passing through 100 & 300 EMAs. Look for FPV and Open as resistance points.

Good Luck to those that trade this.

19 comments:

  1. i like the blogs you have here! awesome posts!

    ReplyDelete
  2. Скоро на долара ще струва по-малко от лев

    ReplyDelete
  3. thanks for the info man. this blog is awesome! ;)

    ReplyDelete
  4. Thanks for info! Just sharing love :P

    ReplyDelete
  5. wow this is really sweet, i want to get into this kind of stuff , got any tips on where i should get started?? get back at me bro! ;DD

    ReplyDelete
  6. Very informational blog! would like to see more!

    ReplyDelete
  7. pretty informative :) i'll stay tuned

    ReplyDelete
  8. lol alright, get some canadian currency in there.

    ReplyDelete
  9. Thank you for the information much appreciated following for further updates

    ReplyDelete
  10. my head hurts.. following and supporting brotato

    ReplyDelete
  11. ty! helps so much! just sharing daily love ;p

    ReplyDelete