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USD/JPY Discussion

  • #67,781
  • Aug 2, 2017 10:30am Aug 2, 2017 10:30am
This thread is full of hopeless contra-trade traders just like EU. I've been there .. I understand the urge to long this. But damn .. look at 1H from left to right. Price is going to retest the longterm (since Nov'16) rising trendline on daily which already had 2 touches (and refusals).
  • #67,782
  • Aug 2, 2017 11:35am Aug 2, 2017 11:35am
Quoting mades
This thread is full of hopeless contra-trade traders just like EU. I've been there .. I understand the urge to long this. But damn .. look at 1H from left to right. Price is going to retest the longterm (since Nov'16) rising trendline on daily which already had 2 touches (and refusals).
Good evening to all (at least evening for me).
I'm a new member of this forum, digiting from Italy.
Mades, your words are full of wisdom. The temptation to go long pushed me to enter in the wrong moment. I went out when I saw the daily candle forming in the last few hours. Almost horrible. Maybe the pair will go up in the evening.
My fault is to watch abitually 15m or 30m charts without see the entire situation.
Have a good day.
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  • #67,783
  • Aug 2, 2017 12:09pm Aug 2, 2017 12:09pm
Quoting SunTrader
{quote} Sorry but not to me - at all. Look at your own chart historically. Anyway 200 on a weekly doesn't add up to anything. 3.846 years ?????
To each their own. It was suppose to retrace a little which it did about 100 pips and back down again. Some would sit through this up move anxiously others may book profit and sell agsin from 100 or less pips up.
Idea was to highlight that it might not be as straight forward to 109.50 as many were believing then.
I agreed to you 109.5x ☺
  • #67,784
  • Aug 2, 2017 12:11pm Aug 2, 2017 12:11pm
Quoting F.g
{quote} Mate... I never say never.... I say IF ....
Well you should have said NEVER and ppl could be foghting to know what your parrot is predicting next
  • #67,785
  • Aug 2, 2017 12:15pm Aug 2, 2017 12:15pm
Quoting NMZee
{quote} ... Idea was to highlight that it might not be as straight forward to 109.50 as many were believing then...
I must of missed who said it would go straight forward ... to any price level.
  • #67,786
  • Aug 2, 2017 12:16pm Aug 2, 2017 12:16pm
110.30 i believe still holding the move down. i am targeting 109.20 then somewhere around 108.XX
  • #67,787
  • Aug 2, 2017 12:26pm Aug 2, 2017 12:26pm
Quoting Denden2012
My UJ levels as I see them. Daily momentum still down. 4H broken and 1H broken. ew supply zones, and created one nice buy area/demand. Same can be said of 1H time frame. Trade safely. {image}
You have taken half of the wxtended candle within the base. Its not a clean or strong zone. Too many spikes plus unclean leaving of the zone. 170 pips diff between proximal and distal line in a daily thats 1.5 times adr. A lot of things contrary to the definition of quality zone. Only maybe number of base candles are ok, even the drop base rally isnt that good. No critism but dont you reckon its a 1/3 zone.
  • #67,788
  • Aug 2, 2017 2:53pm Aug 2, 2017 2:53pm
Trading U/J has become as easy as trading equity indexes. Simply BTFD!
  • #67,789
  • Aug 2, 2017 4:12pm Aug 2, 2017 4:12pm
Quoting NMZee
{quote} You have taken half of the wxtended candle within the base. Its not a clean or strong zone. Too many spikes plus unclean leaving of the zone. 170 pips diff between proximal and distal line in a daily thats 1.5 times adr. A lot of things contrary to the definition of quality zone. Only maybe number of base candles are ok, even the drop base rally isnt that good. No critism but dont you reckon its a 1/3 zone.
It's not a 10/10 zone i agree and I was expecting a deeper penetration but since it's a daily, it has reacted. If price clears the nearest drop base drop then a new demand zone will be created. Confirmation longs will be in order after that.

What is going for the zone is, it's a daily demand nested inside the weekly. Drop base rally, origin of the previous move up with decent RR and the imbalance is adequate for my rules.

So far the 1h demand has held, first target already reached.
  • #67,790
  • Aug 2, 2017 4:32pm Aug 2, 2017 4:32pm
Hmmmm. Taking profit on my long direction still seems a bit unclear.. If we fail to break up. I will take a short with stops above 111
niemals aufgeben
  • #67,791
  • Aug 2, 2017 6:12pm Aug 2, 2017 6:12pm
Quoting mades
This thread is full of hopeless contra-trade traders just like EU. I've been there .. I understand the urge to long this. But damn .. look at 1H from left to right. Price is going to retest the longterm (since Nov'16) rising trendline on daily which already had 2 touches (and refusals).
agree...bcause everytrader have own style..and Each has a different perspective in observing the market
  • #67,792
  • Aug 2, 2017 6:27pm Aug 2, 2017 6:27pm
interesting
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  • #67,793
  • Aug 2, 2017 6:54pm Aug 2, 2017 6:54pm
marking SR - M30.

Big bar based on M30
Small bar from M5

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  • #67,794
  • Aug 2, 2017 7:06pm Aug 2, 2017 7:06pm
H4

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  • #67,795
  • Aug 2, 2017 7:14pm Aug 2, 2017 7:14pm
On the hourly looks very much like a bottoming pattern, almost like an inverse hs
  • #67,796
  • Aug 2, 2017 10:18pm Aug 2, 2017 10:18pm
good reading..

"Market Microstructure in the Foreign Exchange Spot Market"

https://workspace.imperial.ac.uk/qua...in%20Gould.pdf
  • #67,797
  • Aug 2, 2017 10:29pm Aug 2, 2017 10:29pm
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if you my trade,My-post analysis, subscribed to ME
  • #67,798
  • Edited 12:14am Aug 3, 2017 12:01am | Edited 12:14am
My view for the pair for long time (may be till the end the next year):
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Short target:
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Not much room to draw, every one will find the steps down. Good map and opportunity to work with.

PS from the today news:
Правительство Японии в полном составе подало в отставку
Ожидается, что в ближайшие часы будет объявлен новый состав правительства.
Good jump basement and the end for the ABEnomics.

It seems there are surpassing letter with the instructions:
1. Guilt previouvs government for faults.
2. Make a reform
3. Prepare this letter for the next government

ha-ha-ha
Forcemeat can not be unrolled back...
  • #67,799
  • Aug 3, 2017 12:19am Aug 3, 2017 12:19am
Quoting catroot
My view for the pair for long time (may be till the end the next year): {image} Short target: {image} Not much room to draw, every one will find the steps down. Good map and opportunity to work with. PS from the today news: Правительство Японии в полном составе подало в отставку...
i'm agreee 1000% with you..........
  • #67,800
  • Aug 3, 2017 1:05am Aug 3, 2017 1:05am
It will test the low before any up move today.
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