All eurjpy analysis explosed by "bank of japan monetary policy" jesus...
matt_forex
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I know, these are the risks of the market. This is the second time the bank of japan has blown up one of my trades. How are your other trades doing?
samed.karsanbas
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i give up to get sell position wich pairs end of with jpy.
im a bear trader but i never ever trust to jpy policy to get sell position.all indicator and weekly higher price says "price on overbought lvl" even all analysist was agree with markets getting ready to go down. we been waiting for announce from bank of japan " japon yen currency gather strength against to other pairs" never happend :))
i changed my strategy make analysis for buy bull points instead of sell position on all pairs "gbpjpy,usdjpy,eurjpy,.." i advice u bulls market strategy always better on jpy. japan currency explosed....
isomorph
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I believe you misinterpreted what the RSI was telling you on the daily TF. RSI was showing bullish pressure as confirmed by the large bullish engulfing candle that erased all the downside move from the previous 2 days. Furthermore, on a day when a major central bank is going to announce something radical, all technical levels close to market price at the moment of a CB announcement usually count for nothing. Last Friday (Tokyo time) gave us a splendid example that this is true. Just look at how the price slices through all technical levels as if they didn't exist.
matt_forex
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Thank you for your input (I really appreciate it) and I do see what you are referring to. Although, wasn't the BOJ decision a surprise?
isomorph
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yes it was a surprise and why technical levels count even less in such a context. anyway, that was a tough one to get right. but there is always a next time. keep the powder dry ;)
samed.karsanbas
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im on sell position 136.487 with 0.10 lot and gues its gona take litle bit time to take some profit what u think?
matt_forex
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I linked to my above chart showing the 1hr time frame.
Notice there is now divergence indicating price action will move to the downside. I do think it may take a little time. The point you sold at is a very strong support / resistance point (montly / weekly charts) but once it is clearly broken it should move to the downside fast.
samed.karsanbas
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tank you for answer. i gave an order to sell but i forgot to put takeprofit lvl on metatrader and i went out. when i came back and sell postion was in process. sell position lvl was right for short term and hit some profit about like 20$ 120pip but there was no tp lvl to close position :D and i decide to cary position to long term to take some profit. thats was all stroy i shared with u :D