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USD/JPY Discussion

  • #69,441
  • Oct 9, 2017 6:45pm Oct 9, 2017 6:45pm
don't think so , just our discussion stuck in my mind
cherry pick mine back or yours

Quoting SunTrader
{quote} You cherry picked out of context posts. I admit that and I already did if you could comprehend it. Look over on the XAUUSD topic shortly.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #69,442
  • Oct 9, 2017 7:06pm Oct 9, 2017 7:06pm
don't worry I can answer you easy because I've got a better history

Quoting SunTrader
{quote} You cherry picked out of context posts. I admit that and I already did if you could comprehend it. Look over on the XAUUSD topic shortly.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #69,443
  • Oct 9, 2017 7:19pm Oct 9, 2017 7:19pm
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  • #69,444
  • Oct 9, 2017 7:24pm Oct 9, 2017 7:24pm
736 images to 9k posts, since 2006
and a whole lot of bad practice lazy trend lines you defend as right even when proven wrong
coupled with negative side-line comments-
non quote the person your talking about is very annoying

Quoting Bones
don't worry I can answer you easy because I've got a better history {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #69,445
  • Oct 9, 2017 7:46pm Oct 9, 2017 7:46pm
Quoting Bones
don't worry I can answer you easy because I've got a better history {quote}
Except ... you don't. I'm ready whenever you would like to try to answer.
  • #69,446
  • Oct 9, 2017 7:47pm Oct 9, 2017 7:47pm
Quoting Bones
736 images to 9k posts, since 2006 and a whole lot of bad practice lazy trend lines you defend as right even when proven wrong coupled with negative side-line comments- non quote the person your talking about is very annoying {quote}
More nonsense.
  • #69,447
  • Edited 8:47pm Oct 9, 2017 8:16pm | Edited 8:47pm
I'd expect volatility as the price rises as large players eat the stop losses of retail traders who are net short. As price rises and S/Ls are hit expect selling to take the other-side of the cover trade...

Edit to add: Assuming price can continue to rise... This area (between 112.7X-113.02 appears to have strong sell volume.

U/J selloff corresponding to DXY selloff. While U/J is still in a chop zone... buy at your own risk.

Will be short once 112.20 is broken and tested, or below 111.899 if no test at 112.20
  • #69,448
  • Oct 9, 2017 8:52pm Oct 9, 2017 8:52pm
Quoting Bones
I've quoted you at that discussion your so thick you'd never admit it {quote} {image}
Wow those fibs aren't even close to being drawn right...
  • #69,449
  • Edited 9:20pm Oct 9, 2017 9:02pm | Edited 9:20pm
Taking a moderate size test short here. Stop above 113.029

Edit to add: price bumping into 1min/5min bear TL. If we break to a lower low, will add to position. Same S/L
  • #69,450
  • Edited 10:11pm Oct 9, 2017 9:41pm | Edited 10:11pm
Test and rejection of previous bull TL. Bears still looking strong. Definitely adding to position upon LL


And down we go...


Edit to add: adding another slightly larger position here. Stop above recent high @ 112.83. Will still add further upon LL.
  • #69,451
  • Oct 9, 2017 10:48pm Oct 9, 2017 10:48pm
I'm not sure how you guys are actually reacting to this. UJ has been stuck in limbo with no real meaningful movements. The thing to do is stay out, or if you have huge balls, scalp for a few pips.
  • #69,452
  • Oct 9, 2017 11:05pm Oct 9, 2017 11:05pm
FOMC minutes on wednesday might cheers things up for the bulls.But that might be the final spike to eat up the stop losses for the shorts before it heads down.
Your friendly neighbourhood Sith
  • #69,453
  • Oct 9, 2017 11:15pm Oct 9, 2017 11:15pm
Quoting MoneyFocus
I'm not sure how you guys are actually reacting to this. UJ has been stuck in limbo with no real meaningful movements. The thing to do is stay out, or if you have huge balls, scalp for a few pips.

I short weakness and buy strength. After U/J's spectacular failure to break out friday, coupled with price conveniently trending up all day yesterday, paired with a seeming inability to rise beyond even the most meager resistance points, I am obligated to take a short with good money management based on volatility and support/resistance.

Edit to add: If I am wrong price will move opposite to my direction, hitting my stops. I am willing to accept a low win % because my wins, based on my statistics, are on average 3-10x greater then my losers.
  • #69,454
  • Oct 9, 2017 11:29pm Oct 9, 2017 11:29pm
However, recent price action leads me to believe that this trade has a high probability. U/J raced up 500 pips off the lows. It has spent a couple weeks at these levels failing multiple times to continue higher, against a backdrop of a weakening $ trend this year. Combined with its failure to convincingly move through any resistance points it is my assessment that U/J is a leaning tower waiting for the proper gust of wind to allow gravity to take over...
  • #69,455
  • Oct 9, 2017 11:54pm Oct 9, 2017 11:54pm
Quoting PayTheLimit
seeing some R near 112.82, might give this scenario a go....risk a few... {image}

passed on this level, now looking little higher, and/or a little lower for today
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Look Sharp/Trade Tight
  • #69,456
  • Oct 10, 2017 12:10am Oct 10, 2017 12:10am
$ rallies make me lol. Its like watching fish swim up stream. Some make it... but most get eaten by the patient and strategically waiting bears...
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  • #69,457
  • Oct 10, 2017 12:14am Oct 10, 2017 12:14am
Worst I can do is a scratch trade, but the fresh, beautiful, and not yet revisited NY open is sitting right above. We'll see...
  • #69,458
  • Oct 10, 2017 12:17am Oct 10, 2017 12:17am
Quoting Mwfinad1211
$ rallies make me lol. Its like watching fish swim up stream. Some make it... but most get eaten by the patient and strategically waiting bears... {image}
At what price are you short, do you mind sharing?

Thank you.
  • #69,459
  • Oct 10, 2017 12:21am Oct 10, 2017 12:21am
Quoting nealpek
That's what you gotta love about trading. 2 traders looking at the same charts with different conclusions....At least 1 of us is correct,lol {image}

not sure what your conclusion is, your long?
Look Sharp/Trade Tight
  • #69,460
  • Oct 10, 2017 12:22am Oct 10, 2017 12:22am
yes
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