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USD/JPY Discussion

  • #69,281
  • Oct 6, 2017 6:00am Oct 6, 2017 6:00am
Quoting Nicholishen
{quote} Bullish. I think we'll settle in somewhere around 112.75 pre announcement. I think we could see a decent little stop run (last big green bar was 30 pips) and I think we could push close to 114 territory. I could also be very wrong lol
I'm bullish on it as well. Your thoughts on CAD/CHF?
  • #69,282
  • Oct 6, 2017 6:03am Oct 6, 2017 6:03am
Quoting Nicholishen
{quote} Bullish. I think we'll settle in somewhere around 112.75-112.85 pre announcement. I think we could see a decent little stop run (last big green bar was 30 pips) and I think we could push close to 114 territory. I could also be very wrong lol
Ya such stop hunting always happen in Usd/jpy and annoying traders.
  • #69,283
  • Oct 6, 2017 6:07am Oct 6, 2017 6:07am
Quoting MoneyFocus
{quote} I'm bullish on it as well. Your thoughts on CAD/CHF?
My thoughts...I don't like trading derivative minors and especially derivatives that include CHF.
  • #69,284
  • Oct 6, 2017 6:40am Oct 6, 2017 6:40am
Quoting darthPip
{quote} If they win we will hand over Yellen to them in winnings.
I'm for that even if we win - plus throw in our Clown President!
  • #69,285
  • Edited 7:54am Oct 6, 2017 7:22am | Edited 7:54am
Quoting TidalSurf
{quote} Thanks for the correction Nicholishen. I am following the way Mr. Pip taught here https://www.forexfactory.com/showthread.php?t=402253 Or maybe I understood it wrongly haha. Anyway, thanks :-)
No worries, and this is being taught 100% wrong. I think a lot of the confusion comes from the name. I feel like it should really be called fibonacci transposition to avoid confusion because what you are doing is transposing the range from A to B and extending it to C. There's no point in using this tool when you use the same parameter twice because then it's (literally) the same thing as using a retracement.

The funny thing about that instructional video is the example of how deeper retracements mean the end of the run could be anywhere from 1.38 to 1.618, etc., however, had he used the tool the correct way the end of the run in all of his examples would have been exactly at 1.0 no matter how deep it retraced.

This is the correct way to use the extension tool
Attached Image (click to enlarge)
Click to Enlarge Name: correct.png Size: 41 KB


This is the incorrect way
Attached Image (click to enlarge)
Click to Enlarge Name: incorrect.png Size: 43 KB


Which is the same as drawing a backwards retracement
Attached Image (click to enlarge)
Click to Enlarge Name: same.png Size: 42 KB
  • #69,286
  • Oct 6, 2017 7:57am Oct 6, 2017 7:57am
113.56
A trade should be based on an assumption based on facts
  • #69,287
  • Oct 6, 2017 7:57am Oct 6, 2017 7:57am
Quoting Nicholishen
{quote} No worries, and this is being taught 100% wrong. I think a lot of the confusion comes from the name. I feel like it should really be called fibonacci transposition to avoid confusion because what you are doing is transposing the range from A to B and extending it to C.........
Funny I was taught a to b added to c is a projection. A to b added to b is called an extension. No matter.
  • #69,288
  • Oct 6, 2017 8:05am Oct 6, 2017 8:05am
Intraday target: 113.80
  • #69,289
  • Oct 6, 2017 8:07am Oct 6, 2017 8:07am
Nice bull trap to end the week.
  • #69,290
  • Oct 6, 2017 8:07am Oct 6, 2017 8:07am
Quoting SunTrader
{quote} Funny I was taught a to b added to c is a projection. A to b added to b is called an extension. No matter.
I suppose you could consider the "Fibonacci expansion/extension" tool as projection, however, when you incorrectly use the extension tool the way it's being taught (A to B to A) you are adding A to B to A. Doing it that way is literally the same exact thing as drawing a backwards retracement from B to A.
  • #69,291
  • Oct 6, 2017 8:25am Oct 6, 2017 8:25am
I believe we have seen the top at 113.42... and the Low in E. at 1.16 69

I trade accordingly and aggressively

  • #69,292
  • Oct 6, 2017 8:29am Oct 6, 2017 8:29am
Quoting F.g
I believe we have seen the top at 113.42... and the Low in E. at 1.16 69 I trade accordingly and aggressively
Let's see if we can push for 113.80...
  • #69,293
  • Oct 6, 2017 8:30am Oct 6, 2017 8:30am
Quoting F.g
I believe we have seen the top at 113.42... and the Low in E. at 1.16 69 I trade accordingly and aggressively
This is a holding pattern until Dudley and Kaplan push it up even more in a few hours. Good time to scalp.
  • #69,294
  • Oct 6, 2017 8:35am Oct 6, 2017 8:35am
yay, long from 112.4 and still going up

maybe 114 will be the top
Don't Worry Be Happy
  • #69,295
  • Oct 6, 2017 9:13am Oct 6, 2017 9:13am
Quoting Nicholishen
{quote} This is a holding pattern until Dudley and Kaplan push it up even more in a few hours. Good time to scalp.

I wonder what are they going to say in their speeches? They must be out of subject material by now.They have been talking a lot everyday these days.

They should make it a 'low impact' or 'no impact' event in the calendar.
Your friendly neighbourhood Sith
  • #69,296
  • Oct 6, 2017 9:34am Oct 6, 2017 9:34am
Quoting MrPresident
yay, long from 112.4 and still going up maybe 114 will be the top
Targeting 113.80
  • #69,297
  • Edited 9:47am Oct 6, 2017 9:36am | Edited 9:47am
We might see a NK provocation early next week if you go by history ,Oct 9th being the founding day for Kimmy's grandpas party.Today might be a good last chance for bulls to exit.


http://www.newsweek.com/north-korea-...l-warns-678667

The real red line would be submarine launched missiles with a nuclear warhead.Lets see if they cross it or not.
Your friendly neighbourhood Sith
  • #69,298
  • Oct 6, 2017 9:42am Oct 6, 2017 9:42am
Added more longs.
  • #69,299
  • Oct 6, 2017 9:46am Oct 6, 2017 9:46am
blah blah blah north korea

will be a good dip to buy in my opinion
Don't Worry Be Happy
  • #69,300
  • Oct 6, 2017 9:54am Oct 6, 2017 9:54am
112.88.Looks like the rally in morning might have been a nice bull trap!!
Your friendly neighbourhood Sith
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