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USD/JPY Discussion

Been holding Long for the long run and I still feel very comfortable with it but the recent drop has made me a bit nervous for the first time since I adopted the Long only policy on this Pair.

My Stop on the long term trade is way down at 80 but I thought this Pair would have shown a bit more momentum in the last 2 weeks than it has and that bothers me but still I just made another Long trade for a scalp twice the amount of my LT trade.

83.75 is my TP.
Quick short at 83.71...this will take awhile since we are after hours...

Depending on where I am between 7-8PM CST, I will just exit manually unless it hits my 15-20 pip target quickly; I need to be out shortly after.

NOTE: I normally do not jump into a trade again that I exited, but I am trying a different technique / method here. Let's see if it is any good.
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The most important distinction I can say is I look at 1,5,15 TF, Fib, and S/R lines. As with any system, it's discretionary and based on screen time.

Quoting TheArcher
wow !

read through ur profile ....very impressive !

how do u read ur charts ?



.
Quoting TheArcher
thanks ! (mine is just demo )

how did u fare ?


.

Yep I saw the demo title on top, but it doesn't really matter as long as you are serious when putting on the trades, which I know you are

I changed my SL to -3 and lost overnight...<--- due to a second setup I had.... Normally i put only on a trade a day, so I will be in again in around 10-13 hours if I am guessing right... ...

Annoying with the 20 pip spread... should have taken profit when I saw the price went through TP but no execution took place...

Happy times!
Liquidity? Setup? What?
Quoting Astroman

83.75 is my TP.
Ok, first scalp of the new trading day. As I said, I need to run out of the house - actually sooner than later.

Happy trading everyone...if I could stay in I would, it still has some ways to go...
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Come on back up baby. The thing is actually starting to show some movement.

This could be a good thing or a bad thing.
Quoting pinoyboy
Ok, first scalp of the new trading day. As I said, I need to run out of the house - actually sooner than later.

Happy trading everyone...if I could stay in I would, it still has some ways to go...
Are those dots a PSAR?
Does anyone have a time line for the Japan PM elections? The best I have found so far puts the vote counting at 5.00gmt, with the result 2 hours later.....can anyone update or confirm that?
Doing what you like is freedom. Liking what you do is happiness.
Quoting Petar_Serbia
Be carefull guys on buy.I am netural on usdjpy but tehnicly sell view for me >


CHeers

Petar
Sell continue i can see big target according Fibo but we will see for 1,2 weeks


Cheers

Petar
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Quoting Petar_Serbia
Sell continue i can see big target according Fibo but we will see for 1,2 weeks


Cheers

Petar

Quoting Petar_Serbia
Sell continue i can see big target according Fibo but we will see for 1,2 weeks


Cheers

Petar
If that target is the case, and I'm not saying it's not.....may as well place a buoy in the Pacific Ocean with a sign saying "This is where Japan used to be"......because that level of strength will sink Japan exports, and consequently their economic recovery.

Will that be allowed to happen? I doubt it
Doing what you like is freedom. Liking what you do is happiness.
it's gonna break 83,00 i guess...
japan can invent a lot of high tech stuff but can not control their domestic economy.
It could.
Quoting Hugo Boss
it's gonna break 83,00 i guess...
japan can invent a lot of high tech stuff but can not control their domestic economy.

inventing high tech stuff is a lot easier than fixing an economy that has been in a downward spiral for 20 years
Quoting Hugo Boss
it's gonna break 83,00 i guess...
japan can invent a lot of high tech stuff but can not control their domestic economy.
I doubt that we'll get any big moves until the election result is known.....then there could be some big swings. Also, I think you'll find that many of the Japanese 'inventions' you speak of, are in fact invented by others....USA, UK and EZ countries. The Japanese are excellent at refining others ideas and marketing, but I don't think they are leaders in the invention arena.

Really, it's mind blowing that Japan has got itself into so much debt.....while at the time they were the worlds 2nd largest economy, with many markets of maunfacturing pretty much all to themselves. It does smack of gross incompetence to let this happen, but I don't know enough about economics to make that call conclusively.

According to the IMF Australia has a debt at 20.9% of GDP, UK at 90.6% of GDP, and Japan at a whopping 250% of GDP!!! As a comparison, Greece is running at about 160% of GDP. Those figures are sourced form the IMF via the Daily Telegraph
Doing what you like is freedom. Liking what you do is happiness.
When is the election news and what does in mean ? DOes it mean to sell up and test 82.00 ??
Quoting kfx3001
When is the election news and what does in mean ? DOes it mean to sell up and test 82.00 ??
Not much.

On the outset it will be overbought or oversold.
Quoting kfx3001
When is the election news and what does in mean ? DOes it mean to sell up and test 82.00 ??
http://ca.reuters.com/article/topNew...68C59B20100914
Doing what you like is freedom. Liking what you do is happiness.
i think if UJ finally break the 83.50-30 area, sell off will accelerate very fast searching for historical break of 80.
this could happen before any reaction from the BoJ.
last week:+230, this week: +300 and counting....
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