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Is EUR/JPY a good long bet?

dragon1 Posted 4 Apr.  in #Trader's blog #EUR/JPY #Rally #Correction #Long #Break Out
My answer to the title question is a resounding YES! Let me count the ways.
1. After more than one month's good work, it climbed 600 pips to 128.00. The path has been direct and simple with a perfect trend line. Currently it is having a correction but rebounding right from the same trend line.
2. The V-shaped bottom area ABC (see chart below) constitutes a very solid support to withstand the current tumultuous market, and sustain a steady rally.
3. With a little imagination, once the current reb…
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VALTRAD 4 Apr.

Может ещё одну ручку нарисовать. Я тоже смотрю вверх по паре.

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The Siege of Leningrad

dragon1 Updated 14 Mar.  in #Trader's blog #Rally #Correction #Siege
The siege of Leningrad lasted almost two and one-half years and cost the lives of an estimated 1,000,000 city residents. Hunger and cold became the city's greatest enemies. But int he end, the Red Army had pushed the German army beyond Leningrad allowing the city to celebrate the end of its siege. This is what I imagined for the situation I got myself into! Ha ha ...
The week started well with my Euro-related family of cross pairs. With excitement I dived right in and took up long positions of E…
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dragon1 15 Mar.

Bank of Japan will announce its interest rate decision soon. How would it affect my EUR/JPY and GBP/JPY? Although they do not look pretty now, but it is still hopeful, as they have not completely broken technically. EUR/JPY shows upward tendency, but GBP/JPY is having local break down because of the weak GBP. Keep my fingers crossed!

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EURo may experience a corrective downfall

dragon1 Posted 8 Mar.  in #Trader's blog #Euro #Correction #Long
Euro's rally has been impressive. However, it is encountering a major resistance, and it looks unable to punch right through it. After making a break-out over R1, it was blocked by R2. The current pattern looks toppish and bearish!
I made a bullish short time ago entry, unfortunately. But this time I would not make the same mistake like USD/JPY. After seeing the bearish retreat of Euro, I promptly arrange to make an exit, give away more than 15 pips. Alas, sleep well, opportunities exit every da…
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dragon1 8 Mar.

correction:I made a bullish entry short time ago.

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