After a 150 pip drop this session, what makes it so attractive to start selling now? This is exactly how you end up selling into the hole.

Why is looking for a long crazy? Didn't the market just made a full retrace? Whoever bought the break made out very well. What would have to happen to convince you to start looking for longs? I hope you're not thinking that the market needs to go up ...

Selling Rallies — Have a look at the monthly chart. There is a nice 1,000+ pip wick down around 119. That's quite a drop which isn't a problem for this beast. I'd still be looking to sell rallies,hold and repeat a few times for the chance that ...

I've also found it extremely helpful to let a 4h candle close around key S/R levels so you can see how far the market will go. If long gbp/usd, I'd hold onto something and keep adding to it along the way. Right now it looks like there could be a ...

Stops above 1.66 could easily be triggered. Especially, with FOMC today.

This is classic! lol Good thing I know you're joking. You are joking, right? hehe However, that's what a lot of traders start thinking after a big drop.

Now I don't have to ask who's buying the top.

Are you just looking for a few pips on this late long?

I would actually expect price to rally higher. 89.42 isn't even a good resistance area. It's right in the middle of a consolidation area and now it's starting to break up. Look to the left and you'll see what you're up against. I would rather enter ...

I can also see a target of 1.5 or so. There will most likely be lots of good opportunities on both sides of the market but for now I'd continue to build shorts and let 'em ride.

Why do you think that if it had to go down it would've gone down on Friday? What if this is just a carefully designed trap to get the masses in the market at the wrong time? What would you need to see before you see reversal signs?

I don't think that price quote is correct.

Do you think it was Oanda playing with you or were your stops inside the range?

I agree. I had heard a comment about switching from the 4hr to the daily because the 4hr had too much noise. I've preferred the 4hr chart over the lower time frames because it filters out a lot of the market noise. Of course when a market is ...

I would prefer being a seller if it pops up above .9050 or better.

Did you mean 89.08? Selling at 88.08 would be selling into the hole since it's pretty solid support area so far. I'm also starting to favor longs on the usd/jpy long term. This will depend on the follow through as things can change and we always ...

That looks like a hit 'n run. I hope you held onto part of your position. It just hit 1.9450. I might consider looking for a sell setup.

Once price reaches that area, I would look at past areas of S/R and at the setup that surrounds the current price action to help determine the probabilities for buying or selling. If the market has already gone up a great deal you might be entering ...

I had an alert set but didn't wake up for it. That was a perfect setup, though. I agree, entries are key. Learn to time the entry and manage. There are lots of buying and selling opportunities or trend and countertrend trades. Like you, the problem ...

Because that's what all the books and gurus teach. You gotta trade with the trend. Higher highs and higher lows indicate the market will go up, right?