Chasing a trade

It's now just past 10:30 p.m., EDT. After a long day, I got home to check the trade. During the day, I'd been tracking it occasionally, and had raised the stop to 158.35 to lock in some profit - I did. Got stopped out on one of the upswings .... and had to watch the EUR/JPY slowly drift down exactly as predicted! Oh well ... have FAITH in the trade!

Here's what the chart looks like right now.



Okay, so I'm chasing this trade. But I do believe there is a LOT of potential for it to keep going down to the 154.8 or so that would be the 78.6% mark on the longer Fibonacci retracement. So I took the trade. Again. Shorted 5 micro-mini lots at 157.67, with a stop at 158.10 and a limit at 156.35. As it drifts down again, I'll try to push the limit lower. And this time, I'm leaving the stop untouched. No point stopping myself out of a trade that I think will work!

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Also this morning, I got a notification from FXInsights.com that they have generated a Buy signal on EUR/USD between 1.3650 and 1.3640, and again between 1.3620 and 1.3600. So now I'm curious as to what could have triggered that Buy signal of theirs. If it looks like a reasonable trade, I'm likely to get into it tomorrow.

The Daily chart is not yet showing the 10 EMA crossing over the 50 EMA or the 25 EMA, although the 25 EMA has crossed up over the 50 EMA.

On the hourly timeframe below, the indicators are actually to short this, rather than being a BUY signal. I don't think I'm understanding this trade pattern yet.

Let's look at the 15-minute timeframe:


Here, again, I'm not seeing what's causing a strong BUY signal.

So I'm going to look for the Kiss trade on these same timeframes.

Daily:

Hourly:

15-minute:



Hmm, no. I'm still not seeing why they want to buy, other than that the daily timeframe shows a distinct upswing today compared to last Friday. Is that enough reason to make FXInsights.com generate a buy signal? I don't know. Should I buy just because they say so? No. Doesn't make sense to me at all. I'll wait until I see something I recognise.