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USD/JPY Discussion

  • #67,601
  • Jul 26, 2017 7:05am Jul 26, 2017 7:05am
Quoting spynoza
My opinion drop until 110.54 ... be careful for long trades.
are you talking about Weekly MM2?

edit: Monthly Pivot Level MM2 (Monthly Mid 2 )
  • #67,602
  • Jul 26, 2017 7:11am Jul 26, 2017 7:11am
if 111.855 upward-conquered by candle, I'll abort my sells

I changed the abort with tightening SL
  • #67,603
  • Jul 26, 2017 7:31am Jul 26, 2017 7:31am
H1 and H4 support and resistance:
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  • #67,604
  • Jul 26, 2017 7:45am Jul 26, 2017 7:45am
Quoting spynoza
My opinion drop until 110.54 ... be careful for long trades.
if UJ drop until 110.xx ill be open long again
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  • #67,605
  • Jul 26, 2017 8:02am Jul 26, 2017 8:02am
Quoting NagaMas
{quote} thank you bro, such an important basic knowledge. I'm still reading and trying to match it with appropriate/resemblling pattern in my USDJPY chart. Hopefully you can continue it tomorrow and we can discuss further.
Zone always consist of 2 lines which means 2 prices. One is called proximal which is near to the price and second line is calked distal line. Your SL is always few pips under or above this distal line....depending on long or short..
  • #67,606
  • Jul 26, 2017 8:09am Jul 26, 2017 8:09am
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Attached Image (click to enlarge)
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Quoting NMZee
{quote} Zone always consist of 2 lines which means 2 prices. One is called proximal which is near to the price and second line is calked distal line. Your SL is always few pips under or above this distal line....depending on long or short..
Let's see this image
  • #67,607
  • Jul 26, 2017 8:30am Jul 26, 2017 8:30am
Quoting NMZee
{quote} Zone always consist of 2 lines which means 2 prices. One is called proximal which is near to the price and second line is calked distal line. Your SL is always few pips under or above this distal line....depending on long or short..
something similar to this?

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  • #67,608
  • Jul 26, 2017 8:38am Jul 26, 2017 8:38am
  • #67,609
  • Jul 26, 2017 8:45am Jul 26, 2017 8:45am
Quoting NagaMas
{quote} something similar to this? {image}
Not similar like this but exactly like this. I took my forex education from this institute
  • #67,610
  • Jul 26, 2017 8:47am Jul 26, 2017 8:47am
now, practice it

I have short position, sell it at the supply zone, and the horizontal line is my stop loss right above the distal line

I still have another H4 candle ( that red mark) if Crude Oil Inventories news won't move the price anywhere. Surely FOMC is a serious mover then

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  • #67,611
  • Jul 26, 2017 8:50am Jul 26, 2017 8:50am
Quoting NMZee
{quote} Not similar like this but exactly like this. I took my forex education from this institute
You should show me your inauguration pictures then...
  • #67,612
  • Jul 26, 2017 8:56am Jul 26, 2017 8:56am
Quoting NagaMas
now, practice it I have short position, sell it at the supply zone, and the horizontal line is my stop loss right above the distal line I still have another H4 candle ( that red mark) if Crude Oil Inventories news won't move the price anywhere. Surely FOMC is a serious mover then {image}
btw, I prepared buy stop above the SL in case this demand zone.
  • #67,613
  • Jul 26, 2017 8:56am Jul 26, 2017 8:56am
Quoting Mr.yen
nopo mas'e
  • #67,614
  • Jul 26, 2017 9:14am Jul 26, 2017 9:14am
Quoting NagaMas
{quote} btw, I prepared buy stop above the SL in case this demand zone.
There is no demand zone. Thats the breakout point if price stays there. There is no demand zone. There is however a good supply zone which would be your tp for the BO ( breakout) trade.
place to buy, a demand zone is 110.80 to 111.00
  • #67,615
  • Jul 26, 2017 11:58am Jul 26, 2017 11:58am
Quoting NMZee
{quote} There is no demand zone. Thats the breakout point if price stays there. There is no demand zone. There is however a good supply zone which would be your tp for the BO ( breakout) trade. place to buy, a demand zone is 110.80 to 111.00
Your long is triggered, keep an eye on the price betwee. 112.22 and 112.40. If price breaks and sustains above 112.40 then mucho green pips. If zone holds then it'll prolly go down in a nice way.
  • #67,616
  • Jul 26, 2017 12:25pm Jul 26, 2017 12:25pm
I raise SL on longs now to 111.95
  • #67,617
  • Jul 26, 2017 12:49pm Jul 26, 2017 12:49pm
Quoting F.g
I raise SL on longs now to 111.95
Break of 111.71 could be a good sign for bears.
  • #67,618
  • Jul 26, 2017 1:05pm Jul 26, 2017 1:05pm
Quoting F.g
I raise SL on longs now to 111.95
Good call Batman..☺
  • #67,619
  • Jul 26, 2017 1:07pm Jul 26, 2017 1:07pm
Quoting NMZee
{quote} Break of 111.71 could be a good sign for bears.
Lets watch 111.05 for now.
  • #67,620
  • Jul 26, 2017 1:13pm Jul 26, 2017 1:13pm
Quoting NMZee
{quote} Ok. Can you tell me what you see..... 1 Hr chart ...price 111.54 / 58 4 Hr Chart ...price 111.95 / 112.08 Daily............price 112.14 / 112.40 Are there any similarities??
Naga, look at the above zones.
I gave you these and ask for similarities for a reason.
Look at daily zone. 112.14 / 112.40 price went to 112.17 and then good 60 pips...???
Supply zone never changes to demand zones. we never buy from supply zone.
Zone trading 101.
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