Attachments: USD/JPY Discussion

USD/JPY Discussion

#68,281
Aug 22, 2017 2:16pm Aug 22, 2017 2:16pm

mag00
Joined Jul 2016 | Status: Trader | 1,453 Posts | Online Now

Quoting mnaqvi

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{quote} I'm not sure why everyone here is overwhelmingly holding a bearish bias, we just triple rejected a key weekly zone that price has been ranging off of for months. This could be going way up so I'd advise you wait and see what happens. In my books, if it can get back to 111 this could be a reversal, if we get a strong rejection off of 111 and perhaps a key fundamental event, we could break lower. But given the triple rejection and the recent bull run on the 4 hour, it looks to me like the big boys were profit taking and the recent test was...

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Just an opinion of mine:

Following the trendline method (m30), $Y is already long (SL 108.58) while ...
... EW predicts a 4th wave and a 5th one ... bullish.

P.S.
I hope the 4th does not breakdown the intermediate line (see post 68280), otherwise it would trigger a short order ...

... panta rei ... (Heraclitus of Ephesus, 535-475 BC)

#68,282
Aug 22, 2017 2:37pm Aug 22, 2017 2:37pm

petehnm
| Joined Jan 2009 | Status: Trader | 1,392 Posts

Quoting mag00

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{quote} $Y (m15) At 109.60 ... (if I'm not wrong) ... starts the 4th wave P.S. But I do not know where the 5th wave (bullish) will start {image}

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good afternoon mag00..I'm not very proficient with wave trading but looking at your chart wouldn't you say that the fouth wave should start right about where we are now at 109.53..just curious..good luck to you my friend...

#68,283
Aug 22, 2017 2:40pm Aug 22, 2017 2:40pm

Trendzalore
| Joined Jan 2014 | Status: Self Taught | 851 Posts

Quoting Trendzalore

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My Early numbers to watch next week: 109.84 is top of my expected range. 109.27 to 109.84 price my bumble about in this area if is not decisive yet. Next week if 108.74 does not hold then it is a free fall to 106.88 otherwise we could range 108.74 to 111.12 for a while. Beyond that 113.26 is a spot of interest. As for me I am hoping for the break below because that is the clearest easiest money to be had.

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Looks like price wants to get to 109.84. From there it is anyones guess.

But I will be looking short in that area

#68,284
Aug 22, 2017 2:45pm Aug 22, 2017 2:45pm

mag00
Joined Jul 2016 | Status: Trader | 1,453 Posts | Online Now

Quoting petehnm

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{quote} good afternoon mag00..I'm not very proficient with wave trading but looking at your chart wouldn't you say that the fouth wave should start right about where we are now at 109.53..just curious..good luck to you my friend...

Ignored

Hey petehnm,

I try to anticipate (then ... the errors), in the numbering , the beginning of the waves ( respect to EW): the remaining is identical ...

... panta rei ... (Heraclitus of Ephesus, 535-475 BC)

#68,285
Aug 22, 2017 2:56pm Aug 22, 2017 2:56pm

petehnm
| Joined Jan 2009 | Status: Trader | 1,392 Posts

Quoting mag00

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{quote} Hey petehnm, I try to anticipate (then ... the errors), in the numbering , the beginning of the waves ( respect to EW): the remaining is identical ...

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I really got to put more effort into studying EW..it went to 109.65 and now on it's way back down..nice job!!!

#68,286
Aug 22, 2017 3:29pm Aug 22, 2017 3:29pm

kasper
| Joined Aug 2008 | Status: Resident Newbie | 665 Posts

Quoting petehnm

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{quote} I really got to put more effort into studying EW..it went to 109.65 and now on it's way back down..nice job!!!

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wouldnt be so fast to say that it's on it's way back down now yet, still looks to want another poke [or a break].

#68,287
Aug 22, 2017 3:47pm Aug 22, 2017 3:47pm

petehnm
| Joined Jan 2009 | Status: Trader | 1,392 Posts

Quoting kasper

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{quote} wouldnt be so fast to say that it's on it's way back down now yet, still looks to want another poke [or a break].

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I don't doubt that at all..it's just cool see EW in action, I realize just like anything that one use to help guide them in a direction, that nothing is exact if it was I'd already be sipping fruity drinks on a beach somewhere tropical...lol

#68,288
Aug 22, 2017 4:45pm Aug 22, 2017 4:45pm

Trendzalore
| Joined Jan 2014 | Status: Self Taught | 851 Posts

My idea is short 109.80 with SL 110.35 and TP 107.10

#68,289
Aug 22, 2017 5:05pm Aug 22, 2017 5:05pm

mnaqvi
| Joined May 2013 | Status: Trader | 54 Posts

Market is just absorbing sellers at every level, looking increasingly bullish with every candle. USDX also bounced off of key support. My bias is to 111 atm before even a chance of going down again.

#68,290
Aug 22, 2017 5:16pm Aug 22, 2017 5:16pm

Starcraftmaz
Joined Mar 2012 | Status: Trader | 1,983 Posts

Someone suddenly bought a big lot?

Strong reaction to sell around 109.8.

#68,291
Aug 22, 2017 5:54pm Aug 22, 2017 5:54pm

NagaMas
Joined Jul 2017 | Status: Trader | 766 Posts

Quoting alon2kelakon

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{quote} Not yet.... Still fly.. I move my SL to 109.10... Halo om bro.. Salam kenal

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salam kenal balik mas broh

#68,292
Aug 22, 2017 6:27pm Aug 22, 2017 6:27pm

Starcraftmaz
Joined Mar 2012 | Status: Trader | 1,983 Posts

Quoting mnaqvi

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{quote} As for your sarcasm,

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?? I was not replying to you, when I said big lot I meant the large green candle at that time on the 1m

#68,293
Aug 22, 2017 6:35pm Aug 22, 2017 6:35pm

mnaqvi
| Joined May 2013 | Status: Trader | 54 Posts

Quoting Starcraftmaz

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{quote} ?? I was not replying to you, when I said big lot I meant the large green candle at that time on the 1m

Ignored

Oh shoot, my apologies then. Sometimes things get grossly misinterpreted over the internet haha. Deleted the post.

#68,294
Aug 22, 2017 6:36pm Aug 22, 2017 6:36pm

NagaMas
Joined Jul 2017 | Status: Trader | 766 Posts

Quoting Starcraftmaz

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{quote} ?? I was not replying to you, when I said big lot I meant the large green candle at that time on the 1m

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Cmon, the one that might feel very insulted is me. The coffee shop haven't paid the internet bill so the connection cut off right after I entered my sell position. Now my sell (demo

) walking around uncontrollable

oh yeah, that's a very big lotsize

#68,295
Aug 22, 2017 6:43pm Aug 22, 2017 6:43pm

NagaMas
Joined Jul 2017 | Status: Trader | 766 Posts

there's still room for 15 pips upward whereas I can find a good level to sell.

#68,296
Aug 22, 2017 7:09pm Aug 22, 2017 7:09pm

alon2kelakon
| Joined Mar 2016 | Status: Trader | 32 Posts

Quoting Starcraftmaz

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Someone suddenly bought a big lot? Strong reaction to sell around 109.8.

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allready close my big big big lot LOL........ OP@open candle engulfing candle @friday, . because just find out that my broker spead for usd/jpy is 5 pips... better search for a new broker....