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USD/JPY Discussion

  • #69,181
  • Oct 3, 2017 6:45am Oct 3, 2017 6:45am
Hi!!! I set a long position in this weekly graphic, what do you think about it???
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  • #69,182
  • Oct 3, 2017 7:19am Oct 3, 2017 7:19am
Quoting tryding90
Hi!!! I set a long position in this weekly graphic, what do you think about it??? {image}
I think that if you're being serious about forex you should treat your demo trades as you would a real account. From what I gather from this screenshot is you bought high and you're risking a ~40k drawdown on a single trade.
  • #69,183
  • Oct 3, 2017 7:25am Oct 3, 2017 7:25am
I'm long on UsdJpy from 113.085, should I feel concerned?
  • #69,184
  • Oct 3, 2017 8:39am Oct 3, 2017 8:39am
Quoting MoneyFocus
I'm long on UsdJpy from 113.085, should I feel concerned?
Depends on how leveraged you are. I wouldn't be too concerned provided my stop was below 112
  • #69,185
  • Oct 3, 2017 8:51am Oct 3, 2017 8:51am
Quoting Nicholishen
{quote} Depends on how leveraged you are. I wouldn't be too concerned provided my stop was below 112
USD bulls are sound asleep I guess..
  • #69,186
  • Oct 3, 2017 9:25am Oct 3, 2017 9:25am
113.20 - 113.30 turned out to be a very strong resistance. I shorted at 112.95 and I haven't closed the short position yet. I think the pair will drop to 112.60 at least.
  • #69,187
  • Oct 3, 2017 9:29am Oct 3, 2017 9:29am
Quoting dianajs
113.20 - 113.30 turned out to be a very strong resistance. I shorted at 112.95 and I haven't closed the short position yet. I think the pair will drop to 112.60 at least.

if at close of the next 1H candle is a pinbar, i would recommend you to close it. PA is currently being rejected off of 2 daily pivot lines and 89 and 100sma. best of luck
  • #69,188
  • Oct 3, 2017 9:44am Oct 3, 2017 9:44am
Triple top, EMA5 crossover EMA12 and RSI21 less than 50, TP1: ~112.450 TP2: ~112.100
Attached Image
  • #69,189
  • Oct 3, 2017 10:22am Oct 3, 2017 10:22am
Bouncing back, pivot line, diagonal TL

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  • #69,190
  • Oct 3, 2017 10:24am Oct 3, 2017 10:24am
Where have all the USD bulls gone to?!!
  • #69,191
  • Oct 3, 2017 10:30am Oct 3, 2017 10:30am
Quoting MoneyFocus
Where have all the USD bulls gone to?!!

they took a dump but i need them back too now aswell. hopefully, by the end of THIS candle, it have formed into a beautiful pinbar.
It would actually make more sence now, then on previous close, seeing the scenario on the screenshot i just posted 2 posts up. best of luck
  • #69,192
  • Oct 3, 2017 10:32am Oct 3, 2017 10:32am
Quoting Liquidsnake
{quote} they took a dump but i need them back too now aswell. hopefully, by the end of THIS candle, it have formed into a beautiful pinbar. It would actually make more sence now, then on previous close, seeing the scenario on the screenshot i just posted 2 posts up. best of luck
I really need the USD to bounce back and rally hard now, I not only have USDJPY longs, I have AUDUSD shorts as well.
  • #69,193
  • Oct 3, 2017 10:36am Oct 3, 2017 10:36am
Quoting MoneyFocus
{quote} I really need the USD to bounce back and rally hard now, I not only have USDJPY longs, I have AUDUSD shorts as well.

well seeing with all my previous arguments, EU has a beautiful pinbar that briefly touched the 89 and 100sma, so hopefully usd is on its way back.
  • #69,194
  • Oct 3, 2017 10:41am Oct 3, 2017 10:41am
Quoting Liquidsnake
{quote} well seeing with all my previous arguments, EU has a beautiful pinbar that briefly touched the 89 and 100sma, so hopefully usd is on its way back.
UsdJpy above 112.80 is bullish bias imo. So hopefully, we stand above and rally from there.
  • #69,195
  • Oct 3, 2017 1:13pm Oct 3, 2017 1:13pm
When U/J finally breaks down from this level, with the amount of Sell volume at this level/area, we are more then likely going sub-99.
  • #69,196
  • Oct 3, 2017 1:18pm Oct 3, 2017 1:18pm
Not likely.
  • #69,197
  • Oct 3, 2017 1:22pm Oct 3, 2017 1:22pm
Quoting Mwfinad1211
When U/J finally breaks down from this level, with the amount of Sell volume at this level/area, we are more then likely going sub-99.
114 is a more realistic target lol
  • #69,198
  • Oct 3, 2017 2:59pm Oct 3, 2017 2:59pm
Quoting MoneyFocus
{quote} 114 is a more realistic target lol

Perhaps... however I see a lot of people "hoping", "needing", "wishing for" U/j to crack 113/114. In times when I see that I'll gladly accept the other side of a "hope" or a "wish" trade. I have yet to see any convincing price action that U/J can crack 114.05, 113.50, or much less 113.30.

At one point at these levels I was bullish U/J however that analysis has proven to be misguided. Have you looked at monthly chart lately? If/when this bullish wave fails, and bears take over first target is 107, with 99 not far behind. Presupposing the smart $ will not be immediately be catching the falling dollar knife, that clearly opens up room to sub-99... It won't go there overnight, obviously, but between now and Dec/Mar/June (next Fed meetings) it is a definite possibility.

Could we hit 114. Sure. Is it more realistic? Perhaps. I've been wrong quite a bit lately, however, that being said, my long-term analysis is usually pretty accurate.

We shall see.
  • #69,199
  • Oct 3, 2017 3:25pm Oct 3, 2017 3:25pm
Quoting Mwfinad1211
{quote} Perhaps... however I see a lot of people "hoping", "needing", "wishing for" U/j to crack 113/114. In times when I see that I'll gladly accept the other side of a "hope" or a "wish" trade. I have yet to see any convincing price action that U/J can crack 114.05, 113.50, or much less 113.30. At one point at these levels I was bullish U/J however that analysis has proven to be misguided. Have you looked at monthly chart lately? If/when this bullish wave fails, and bears take over first target is 107, with 99 not far behind. Presupposing the...
I agree.Weekly and monthly charts are showing a different story where UJ heading!!I am thinking of 107.5 in new few weeks

PS:Finally someone is bearish on UJ in FF
Your friendly neighbourhood Sith
  • #69,200
  • Oct 3, 2017 4:09pm Oct 3, 2017 4:09pm
I trade on daily and lower so weekly/monthly means little to me. Obviously if weekly and above is going one way the daily most of the times will be going that same direction. And I see the weekly's next move at some point being higher - like the daily currently.

Chart shows (green box) impulsive move up, (red box) sideways, (black box) is a question mark, except most likely another impulse wave - up - should be the result. A news event of some sort (maybe NFP) would be the trigger to break through the consolidation zone.
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