Added short: EURJPY @ 125.47

0.11 gmt

Yesterday’s hesitation in shorting EJ resulted in a poor entry. One has to be ruthless with decisions, as the markets move so fast. Anyway, the price action yesterday and so far today suggests strongly that we are in a serious EURUSD correction. Even if USDJPY were to remain strong, EURJPY will not rise much more. It is a worthwhile risk to short here.

Short $110/pip EURJPY at 125.47. SL at 126.05, but I might exit this at around 125.65 depending on the price action.

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7 thoughts on “Added short: EURJPY @ 125.47

  1. HellboyFX

    hi zen – great going on adding to this short!

    i only got in on that big bounce this morning at 124.75….got a fright when it moved still higher to 125 but really looking in better shape now…thanks to these quick moves ive locked my s/l at entry + 30 pips….so lets see

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    1. ZenFXTrader

      You know, I’ve been so focussed on the trading I have not really looked at my worksheet for about 2 days, apart from just adding the trades. I’ve got trade sizes worked out by a formula, working in percentages, so I pay less attention to the actual account figures. But yes, I should be over 100%. In my personal account I am already more than double, even after withdrawing some profit a couple of days ago.
      As I said in early-mid January having missed most of the yen move upwards: there will be ample opportunities when this thing turns down, as nothing ever moves in a straight line.

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  2. HellboyFX

    nice going Zen!

    i love following your posts and very happy that you are doing good
    maybe showing me that i am following posts from a guy that know what hes doing!

    well done and please keep the posts coming
    have a nice weekend over there…sure you will!

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    1. ZenFXTrader

      Thanks Hellboy. It’s good to have a serious FX trader reading the blog. There are far too many clueless traders around, and very few folks who treat this business seriously. Good weekend to you too.

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  3. HellboyFX

    Hi Zen

    Hope the weekend was good over there..We at least beat NZ in the 7s finals which I enjoyed…

    Anyway – back to trading and the markets

    Yes – I’ve found it very difficult to come across serious fx traders in this industry – with that I mean guys out there on their own making a living from it. Thanks for the posts once again

    I am definitely not near where you are at the moment, but slowly getting there I believe…and I believe your posts are helping me..

    again – thanks

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