Cleopiptra

The idea of knowing how to measure a correction versus a reversal sounds easy in theory but without some understanding of the underlying trend of the time frame you are watching and without tool to measure this with it can be very difficult and thus has been relegated to trendlines (lagging) and guess-work (ineffective).

As I continue the series on how I scan and set up trades, there is one issue that you, I, and everyone will deal with and that’s multiple set ups. How do we pick from the available set ups? Which is best? Which is a risk/reward that we can manage?

I think it’s a philosophy and not a formula. In this video I share how to approach trade management (which includes risk management as well). The video runs about 20 minutes.

Pip Movement Ranges guide your trade expectations and risk management… and of course can offer insight to trading volatility.

I will be back to our regular updates next week (at last!!!) so in the meanwhile let’s look at the cable together.

I’ve been really, really, crazy busy with book edits these last few weeks but I did do a Q&A session on my trading about a week ago and since many of you are still getting to know more about how i trader and analyze the markets I thought this may be a great update for you.

I am looking at some recent chart patterns that have developed and/or triggered in the USD/JPY. When the Dow wakes up — as it has this week — the dollar-yen gets moving as well. The Dow rally has helped the dollar gain on the yen and the move higher is setting up another test of the 100.00 century level.

I have been playing a dollar long position since the pullback reached the top line of the Wave (34EMA high). This decision was not random but instead was based upon the criteria of my swing trading…

The century mark is a huge psychological level for the USD/JPY and while the deteriorating Japanese economy continues to rally the dollar-yen. With the daily chart still in a strong uptrend, it would not be best to fight the trend on this time frame.

I am still getting better from being pretty sick over the last week and am slowly venturing back into active, intraday trading with mainly the 15 minute time frame. I prefer to use this time frame when I am not feeling well since 15 minute trades typically have a shorter lifespan.