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Prudencetrade

Long 'A' Up Trade With Pending RPR Confirmation - PrudenceAs you can see on the chart the 'A' up trade signal has been given but has drifted the last few hours. The only way to prudently get long at this point would be to buy on a close above the key resistance of the 3 Day Rolling Pivot Range (RPR) as shown on the chart. Once the price pushes higher bring the stop loss up to the Daily Pivot Range low. This is a good way to see a potential trade despite the market not taking off at the time the trade signal was shown ('A' with the up arrow). This trade still has merit but must reveal a confirmation to the upside before taking a new position.
Long
by chris333
1
Go Long USDJPY on 'A' Up Trade - PrudenceThe bias remains to the upside for the short term with the price trading above the Daily Pivot Range (blue dots), therefore this level is key support. With this bias to the upside our ‘A’ up value line is our first entry point for the day. The 14 Day Pivot Moving Average (red) is turning up, and crossing the 30 Day Pivot Moving Average (yellow) and this is bullish. The action to take is to enter and go long if the price trades at or above 109.27 for at least 15 minutes. Use a shorter term chart like 5 minutes to confirm this. Once, this rule has been met use discretion to get as close to 109.27 as possible. Sometimes the price may rally quickly from this level so be careful not to buy on a spike, so if the price has moved to far, look for a retracement for a better entry. Place the stop loss at the Opening Range low of 109.088 and the profit targets as stated below. Note: If triggered, look for the trade to play out over a period of 24-36 hours and if no significant move after 3 hours, exit the trade. Entry Price: 109.27 Stop Loss: 109.088 Profit Targets: First profit target 109.69. Once first profit target is reached, bring stop loss to breakeven, then trail a stop loss on remaining position 15-20 pips behind to safeguard profits.
Long
by chris333
2