FEW River Ride: River Radar: USDJPY

Monday, August 16, 2010

River Radar: USDJPY

Summary:

Weekly & Daily charts are in a downtrend below the river

4 hour chart retraced back to the top of the river(100 EMA) & bounced back down

Entry look out:

H4 candle must close below river (50 EMA)
Green line(5 EMA) must cross below river(50EMA)
Enter short on next candle

1 comment:

Mike DonaldsonAugust 16, 2010 at 5:25 PM
B, love what you've done with the place LOL
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River Trading Plan

River Excursions Test

* 5/12 Creek must come out of the 50/100 River.
* Must have one candle’s Open/Close completely out of the Creek.
* Entry on the day after that; entry price the open
* Entry test on: BOTH 5 and 12 leaving the river
* OR just the 5 leaving the river
* Exit test when the price touches the 12, the Creek Shoreline
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+ Or, Exit when the 5/12 Cross
+ Or, Stop Loss 200 pips
+ Or, Stop Loss at 2x ATR

ENTRY EXAMPLES:

1. Just the 5 Leaves the River OR

2. Both the 5/12 Leave the River

One candle open/close after above, THEN enter

EXIT EXAMPLES:

1. The price touches the 12, Creek Shoreline

2. The 5 and the 12 Cross

3. The Price touches the River

Note: I believe this is a 4 hour candlestick timeframe

Trade postings

Monday, August 16, 2010

River Radar: USDJPY

1 comment: