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USD/JPY Discussion

Quoting ForexGoose
I'm thinking about buying now and putting a stop under 113.9, target profit 115+ I still have a feeling that it could go down further though {image}
113.95 is support on the weekly and daily chart.
"A true speculator tries the market small." - Jesse Livermore
Ordering my Lambo
Learn, a forex trader must, unlearn and relearn he will.
Quoting OBsayMkMoney
{quote} Wave count off. 4hr looking more like wave 5 of ABC. Waiting
Caught it. 113.44 short tp target
buying 113.5 w sl under 113. TP above previous highs.
When you feel like you HAVE to trade is when you least should!
Quoting COGSx86
Every year for the past decade USDJPY corrects a large percentage in the final few days of the year. Most years continues for a nice correction. Stay patient. US03m pulling above .07 Market is moving similar to 2017 into 2018, presidents 2nd year. As well as 2018 moving into 2019 We should see a large correction with USDJPY, I Was Bullish but with the FEDs tapering, short term rates spiking, and Bezos, Elon and many others dumping stock. The markets hesitation will have a hard time maintaining its momentum, IMO. And we can't forget about the 50...

About those rebuttals....
When you feel like you HAVE to trade is when you least should!
Quoting ForexGoose
stocks are doing poorly after the inflation data, I expect JPY to appreciate {image}
This makes perfect sense. Which is why I expect UJ to do the opposite. At least at first. The proverbial "shit" hasn't hit the fan yet, so the banks still have time to make some shmula on shorts. To do that they need to drive the price up. Plus.. IMO daily wave 5 needs completing. Bear trap ahead.
When you feel like you HAVE to trade is when you least should!
Im long strong and down to get the friction on!

Extremely bullish price action and bull hammer on the daily chart.

Nice channel to trade in on the daily chart instead of a wedge.

Have a good weekend everyone!
"A true speculator tries the market small." - Jesse Livermore
Quoting Jgcole83
Im long strong and down to get the friction on! Extremely bullish price action and bull hammer on the daily chart. Nice channel to trade in on the daily chart instead of a wedge. Have a good weekend everyone!
same. Excellent price action. Trimmed a little of my long at close I built up but I’m most bullish Iv been for a little while. Big selling on for the increasing rate hike bets (bought the rumor then selling the news looks like). US10 still close to 1.8%

UJ bore through the low volume run up I was looking out for banks to re-up their longs under 114.
For me long buy position will start from 1.1212 will shoot to 1.1800
Careful.. short term trap ahead. I see the market opening w a little up movement before it takes out this recent low for a wave 5 of ABC. this move up was wave 4 IMO. Once this last dip down is done.. onward. imo
When you feel like you HAVE to trade is when you least should!
We have higher highs and higher lows for tops and bottoms on the daily chart.

In order for the overall trend to even be considered to be changed it needs to take out the November low of 112.53.

Look at last year's PA.

Pulled back to 107.48 when we got an actual correction and then never touched it again.
"A true speculator tries the market small." - Jesse Livermore
Long term I'm eyeing 117.12.
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"A true speculator tries the market small." - Jesse Livermore
Currently holding onto my longs from 114.15x that I took near the end of last week, SL at 112.5xx and open TP. On D1 chart, UJ feels bullish ahead, and this seems to align with all the news concerning USD at the moment. I'll be keeping my eyes and ears open for anything amiss this week though. Just my thinking out loud as I try to make sense of my chart
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Trying my best.
Sold at 114.397 SL 114.511 TP 114.258
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Quoting captalTrader
Sold at 114.397 SL 114.511 TP 114.258 {image}
Stoploss hit
Bought 114.526 SL 114.452 TP 114.606
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Quoting OBsayMkMoney
Careful.. short term trap ahead. I see the market opening w a little up movement before it takes out this recent low for a wave 5 of ABC. this move up was wave 4 IMO. Once this last dip down is done.. onward. imo
Forgot today was a US holiday.
When you feel like you HAVE to trade is when you least should!
Quoting captalTrader
Sold at 114.397 SL 114.511 TP 114.258 {image}
You trade 1m chart? How terrifying. you must really enjoy adrenaline.
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} You trade 1m chart? How terrifying. you must really enjoy adrenaline.
No I don't use charts
Quoting captalTrader
{quote} No I don't use charts
Most profitable fx trader's in the world are trend traders not scalpers.

Just something for you to chew on.
"A true speculator tries the market small." - Jesse Livermore
Quoting Jgcole83
{quote} Most profitable fx trader's in the world are trend traders not scalpers. Just something for you to chew on.
I don't scalp.

Where can I find just one of these profitable traders?

I'll chew on it
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