Very good morning everyone. Here is this morning what I am viewing.
4801 is a vital level. See above longer term charts. I would look to set here down to 4697 -4685 area. Risk should be tight on a move up as I suspect we'll move up fairly rapidly in the event the supply in this level is overcome.
When we move up then aim 4863 area or even better to 4685. I pare at this level and let before going, value develop or would depart.
Fantastic morning everybody. Here is what I am viewing at this moment.
The 106.87 area is really a key and we're there right now. I'm short term bullish about the USDJPY (see above) so I'd look to put caked on a push through this level. Target is ADV (Adaptive Dynamic Value) in 107.91 or greater. Exit here and wait to construct prior to setting up. Risk should be fairly tight here, as down any move will aim the 105.91 area. If you brief into this level, depart here.
Good chance now. I think we have ADP and GDP at 8:30 and 8:15, then the FOMC this afternoon. Then again all days are whacky anymore, although it might be a whacky afternoon. When I trade the Yen, I really feel like I am trading US Equity indexes lately.
I do not believe in indors. I believe that both my mind and your mind are way more powerful and forward thinking than a squiggly line on a chart. Everything in trading is a reflection of only one thing. Just one thing things all of the time and that is PRICE. It is. I make decisions based on current value dependent on the distribution of price around an average or most actively traded value place. The lines on the chart represent levels of supply and demand that I decide are critical based on a longer term distribution of price. I believe in simplicity. Trading ought to be made simpler not more complex. We try to build too much stuff to our trading. Calm your mind, clear your charts of whatever except price and transaction based on your own intuition. Ascertain your own sizing and risk. Take your position. Do not second guess yourself. Take your profit or your loss thankfully. Some will, some won't, so what, next. I believe markets are emotional and not predictable, but they are tradable. I do not use fixed ceases, instead I wait for price to violate a place of value I decide would prove me wrong. Once price moves out of the area, I then depart for a loss because I am mistaken. I am wrong very often. I believe that I am right where I need to be as a trader all of the time, every day. I am not searching for some magic moment in the long run that I'll arrive at and be happier or whole. I believe being a single trader is the best profession on Earth. I believe in treating people with kindness and respect I believe I am done know.
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