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[QUOTE="Martin Kay, post: 123037, member: 25911"] [B][U]Daily US Dollar / Japanese Yen-USDJPY [/U][I][U]As of 03/03/17[/U][/I][/B] [B]*** [U]Intra-Daily Trading Strategy[/U]:[/B] [B]SELL US Dollar / Japanese Yen[/B] [B]Sell Target: [/B]113.6300 [B]Enter New SELL on [U]OPEN[/U] and exit SELL positions at [U]Target price[/U] or at [U]Stop price[/U]. [/B] [B][I](NOTE: Adjust Stop Loss Price according to your trading risk.)[/I][/B] [I][U]Do not reverse[/U][/I] after exiting. This is a recommendation for [B][U]INTRA-DAY TRADING[/U][/B] only!!!!! A [I]black body[/I] has formed as prices closed lower than open. The previous 10 [B]candlestick bars[/B], there are 5 white candles versus 5 black candles. The previous 50 [B]candlestick bars[/B], there are 21 white candles versus 29 black candles with a net of 8 black candles. A [I]engulfing bearish line[/I] has formed where a black candle's real body completely contains the previous white candle's real body. The [I]engulfing bearish[/I] pattern is bearish during an uptrend (which is the case with US Dollar / Japanese Yen). It signifies that the momentum may be shifting from the bulls to the bears. If the [I]engulfing bearish[/I] pattern occurs during a downtrend, it may be a [I]last engulfing bottom[/I] which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.[B]MACD[/B] is [B]BULLISH[/B] as the [B]MACD[/B] is above the signal line. The [B]MACD[/B] [B]crossed [/B]above the signal line 3 day(s) ago. Since the [B]MACD[/B] crossed the MACD moving average, US Dollar / Japanese Yen's price has increased 0.97%, and has been fluctuating from a high of 114.686 to a low of 111.690. The [B]MACD[/B] is currently not in an Overbought/Oversold range. There have been no [B]divergence [/B]signals during the last 5 periods. No Stochastic Buy or Sell signals generated today. The last signal was a Buy 15 Day(s) Ago. The [B]RSI[/B] is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the [B]RSI[/B] moves out of an overbought/oversold area. The last signal was a Sell 49 day(s) ago. Currently the [B]RSI[/B] does not show any Failure Swings. The [B]RSI[/B] and price of US Dollar / Japanese Yen are not diverging. Currently, the [B]Momentum Oscillator[/B] does not show an overbought or oversold condition. The [B]Directional Movement Indicators (DMI)[/B] currently is not indicating a specific price direction. Because this is a trend following system, it should [B]not[/B] use to initiate any trades right now. The last [B]Directional Movement Indicators (DMI)[/B] signal was a [B]SELL[/B] 36 day(s) ago. There were no [B]SAR[/B] signals generated today. The last[B] SAR[/B] signal was a [B]Buy[/B] 1 day(s) Ago. The close is currently [B]ABOVE[/B] its 200 daily moving average [B]ABOVE[/B] its 50 daily moving average [B]ABOVE[/B] its 20 daily moving average The current market condition for US Dollar / Japanese Yen is [B]Very Bullish[/B] US Dollar / Japanese Yen closed below the upper [B]Bollinger Band[/B] by 22.6%. [B]Bollinger Bands[/B] are 49.43% narrower than normal. The narrow width of the [B]Bollinger Bands[/B] suggests low volatility as compared to US Dollar / Japanese Yen's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The [B]Bollinger Bands[/B] have been in this narrow range for 10 day(s). The probability of a significant price move increases the longer the [B]Bollinger Bands[/B] remain in this narrow range. [/QUOTE]
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