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Week 24 EURJPY Review: Resuscitation for the EURJPY?

The EURJPY was in free fall for the best part of May, and looked set to continue its downward spiral.  In the early days of June 2010, there was deep concern.  Yet, in the days that followed, there seemed to be some hope for the ailing EURJPY.  My reviews on the EURJPY in weeks 20 and 21 signalled the possible revival with the formation of double bottoms on the H4 charts.  This time round, are we about to witness a potential double bottom on the Daily chart?

Having said that, students of Tflow® had fine-tuned their entries on the lower time frames to catch this upflow.  Afterall, the EURJPY has already moved up more than 500 pips from the low of June.

If the EURJPY has truly come back to life, then we would have to await the confirmation of the double bottom on the Daily chart, which may still be some distance away.

Looking down to the H4 chart, the EURJPY has certainly shrugged off the lows of the previous 4 weeks, to begin it’s climb along a purple equidistant (ED) channel. (Indeed, last week we mentioned that in Tflow®, this ED channel is powerful.  Have you already found out why?)  The upper border of the ED channel has proved to be a respected resistance.

With that in mind, going into Week 25,

a)      Bulls Will Continue their charge up (Blue arrow) towards the resistance zone to possibly retest the early high of June.  And should this attempt be successful, it would be tentamount to the confirmation of the double bottom on the daily chart

b)      But beware, Bears (Red arrow) will still be active in bringing price down to the bottom of the ED channel if the mid week support level of Week 24 is breached.

And should you have a peak at the H1 chart, price looks to be headed towards a squeeze… I’m rubbing my hands with great anticipation!

The Doctor’s Advice for the Week:  “Patience!  How many times have we jumped into a trade, only to see price move in the opposite direction , filling our heart with regret and shock instead of profit?” When we will ever learn?…

Only registerd users (ie TerraSeeds Tflow® graduates) can view this post. Graduates please log in with your UID and password that you use for Forum. Find out how you can be part of our privileged trading community. Email forex@terraseeds.com

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Tflow® Strategy on USDCAD, Loonie. Also include predicted price level to watch out. I also pointed out some scenario of what might happen in future so that you can anticipate. Private post, Tflow® graduates log in to view.

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We illustrate with Tflow® how to plan and predict the trade on KIWI before it even happen. Private Posting, only for Tflow® Graduates

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How to trade AUDUSD and short at the high. Tflow® explains why it has to go up first.

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If this support is successfully taken out, base on symmetry measurement and prediction and Tflow® , AUDUSD has a range of 850 pips till next significant support. This privileged post is only available to Tflow® graduates

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One student asked me why I tweeted on EURUSD today based on one of the price actions trigger available in Tflow®. I tweeted this “$EURUSD M15 shows WR ^BN”.

Tflow® allows you to play in any direction – we do not need to care too much about the trend, although newbies are advised to take with the trend trade. We can trade any currency pair, any timeframe, any profile (scalping, swing or position).

Here’s EURUSD. See the very distinct support and resistance. This call for a range play and within the low and high point, the range is about 100 pips.  So how about getting 1oo pips in less than 3 hours. Sounds good…indeed it’s good.

That’s what Tflow® is capable of!

Tflow® allows us to trade with the trend, reversal and counter trend.

Summary – you are able to trade in any direction AT WILL. (of course, we have our discipline – newbies are advised to trade with the trend first ).

We know that you are busy.  So, follow us in twitter @terraseeds  (http://www.twitter.com/terraseeds) and get real time Forex information via your mobile phones or laptop.

I like to invite you to join our twitter group. @terraseeds

Following our short on AUDUSD, we saw a WR signal to call for long.

What are we doing here? Yes, short first, then reverse to go long.

We don’t care about which direction – we just care if this is good reward to risk trade.

Of course, we are fighting with the market and therefore, we tweeted about the WR signal. Just join us at twitter @terraseeds.

With Tflow®, we are able to get ready for action, take our own sweet time to finetune at lower timeframe at the next hours.

Right, we traded with iPhones!  If you want to know how to get real time charting software (Yes, it’s free) for your mobiles, join us in our Free Forex Educational Seminar.

See the actions.

Tflow don’t react, Tflow predicts.  Apart from using Advance Fibonacci tools, we use specifically a ED Channel to draw trendline.

Look at how ED Channel predicts in advance the turning of Aussie.  We can go lower timeframe like M15 to finetune and trade upon establishment of flow.

Most important, reward to risk ratio  is good.

Stop loss is only 20 pips.

In Tflow System, we are able to trade with precision and one of the most amazing techniques taught is advanced Fibonacci prediction. This means that even before we enter a trade, we know in advance the actual price of our risk and multiple targets.

This is unlikely a fixed profit target whereby one might be taking 10, 40 or even 80 pips per trade and missed out the possible 100 or even 1000 pips which the trade can give. Remember “cut your losses short, let your profits run“.

The chart below shows you how it can be done.

With advanced Fibonacci prediction by Tflow, we can find an entry shown by the red arrow and projected 5 possible target levels as shown.

So after 8hrs…

Surprised?! The market is so kind that Target 1 and 2 (210 pips and 255 pips) were all hit in 8 hrs, which is 2 bars after the entry, and the profit taking was near to the low of the bar before a pullback. So the prediction turns into reality for the 2 targets.

If suppose you went to sleep and work for the remaining days, without checking back on your trades for the next few days…

320 pips pocketed and near the lows after 16 hours or about 2 full working days. And you don’t have to glue to your screen and constant monitoring of the trade. It is as simple as “Set and Forget” or in auto-flight mode. Isn’t that gives you more time for yourself and perhaps a less stress trading strategy?

So let’s see if the next target is coming.

445 pips in 3 days! Yet, if you noticed, the price is very near target 4 then a pull back before dropping below target 4.

In  Tflow system, there is a way to identify the pullback and allow a re-entry to continue shorting GBPJPY.

After 3 days, GBPJPY has moved almost 480 pips, will it reach our projected target of 510 pips?

Whoala! 510 pips in 4 days!

Apart from having a good strategy,  patience and discipline are also important for a good trade to last for a long time.

Noticed again how Price had hit on the Target level and made a pullback.

As you had seen, this is a swing trade which one can made within a week and have the peace of mind to let it run for a long time – 4 days!

A 510 pips might mean USD 510 for a mini lot or USD 5100 for a standard lot.

So the risk / reward ratio will be USD 600 / USD 5100, which is 1 to 8.5.

Have you know of such strategy that you can trade with confidence and yet allowing it to run, without affecting your lifestyle?

If you are in search of one, then make time to hear what Terraseeds can offer you! Come for the coming course preview on the Forex Tflow Course.