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USD/JPY Discussion

Looking at weekly chart, I think u/j might go down till 107.
Interesting employment spike there. Possible bull trap. Time will tell. So far 108.8 level is holding. 108 on deck IMO.
When you feel like you HAVE to trade is when you least should!
I'm at work today so don't have access to my charts, but it does remind me of last year when the daily settled on the 50 SMA, then broke down, then crashed. I don't normally hold trades over the weekend, but with that rejection of good news/ bull trap spikes, i think it's ready for the trap door to open, and I have a couple of shorts. It's approaching a daily TL.
Who knows, but could be weekly bearish engulfing or close to it. Then again I could be wrong. I found the spikes yesterday very challenging, personally I got stung a cracker in a bull trap and had to close with loss. My own stupid fault, I realised it was a trap 5 min after I entered and didn't immediately pull the pin.
Cheers H
Quoting hellsbells
I'm at work today so don't have access to my charts, but it does remind me of last year when the daily settled on the 50 SMA, then broke down, then crashed. I don't normally hold trades over the weekend, but with that rejection of good news/ bull trap spikes, i think it's ready for the trap door to open, and I have a couple of shorts. It's approaching a daily TL. Who knows, but could be weekly bearish engulfing or close to it. Then again I could be wrong. I found the spikes yesterday very challenging, personally I got stung a cracker in a bull trap...

I am not trusting anything GREEN until we touch that 108.00 area we previously bounced off of. The news rejection around the 108.8 area was just further confirmation for me, although I do wish I had piled on another sell at that level when it did hit, but my day job prevents greed lol.
When you feel like you HAVE to trade is when you least should!
Certainly thought we'd get further than Daily S1. Had 4 sells, TP2 early with break down to reduce exposure and ensure profit, good thing I did.

Feeling bullish now with the bullish reversal but end of season side line probably better. ????? If Asian can offer better than 9 hours of tight range I might look to enter- If it comes down to blue TL and rejects it I might long a small trade tight SL. Maybe..
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Quoting hellsbells
Certainly thought we'd get further than Daily S1. Had 4 sells, TP2 early with break down to reduce exposure and ensure profit, good thing I did. Feeling bullish now with the bullish reversal but end of season side line probably better. ????? If Asian can offer better than 9 hours of tight range I might look to enter- If it comes down to blue TL and rejects it I might long a small trade tight SL. Maybe.. {image}

The longs still smell cheesy to me. I could be wrong, but I am still waiting for it to at least touch 108. Possible bearish shark on the 15m.
When you feel like you HAVE to trade is when you least should!
Then again the small volume daily bull candle ( doji even) is hardly convincing.. might still be about to plop.
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107.8?
When you feel like you HAVE to trade is when you least should!
hypothesis1
retail traders who are currently buying are placing their stops below the support - buyer's trap.
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At its best, change itself becomes a lifestyle.
Closed my last short for a small profit, I'm just not convinced right now. I don't think it's a good time to trade. I keep thinking it wants to push up
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Mystery half strength reverse trade still in play, BE. TBH I expect to be stopped out, but one never knows.
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NB TP 108.680. US news worse than expected and spike up.. Happy to bag 14 pips and call it a day.... and more China tariff noise...
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Quoting hms_galaxy
Hidden

Quoting hms_galaxy
{quote} How did you do that? May I copy your trades through skype or others?
Never good when the guy offering signals is asking others if he can copy their trades... Just saying.
When you feel like you HAVE to trade is when you least should!
Im not trading tonight, going to drink instead , cheers. The problem is the news in 5 odd hours will probably wipe out trades made between now and then, but if any trader has open trades at BE or even with a loose SL or heaven forbid no SL...and a firm grip on the state of play,.... please share... SHOW US THE MONEY... and your charts..
This place has become a bit of a ghost town...
I've opened long position since last Friday two hours before NFP at 108.58. Waiting the Fed and UK elections. My tp at 110.43.
Quoting jag1969
I've opened long position since last Friday two hours before NFP at 108.58. Waiting the Fed and UK elections. My tp at 110.43.
SL?
I'm swing trader. My SL at 107.
Quoting jag1969
I'm swing trader. My SL at 107.
Sweet. I wanted 107 to be my TP for shorts, but too many doubts. Good luck to you.
Cheers h
Quoting hellsbells
{quote} Sweet. I wanted 107 to be my TP for shorts, but too many doubts. Good luck to you. Cheers h

I think we will hit 107.8 before heading upwards to the 110 111 area.
When you feel like you HAVE to trade is when you least should!
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