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USD/JPY Discussion

  • #69,641
  • Oct 12, 2017 8:31am Oct 12, 2017 8:31am
USD/JPY is relatively bearish and the resistance at 113.40 is still holding. I think that if it falls below 112.00 it will continue depreciating at least to 111.20 - 111.00.
  • #69,642
  • Oct 12, 2017 1:49pm Oct 12, 2017 1:49pm
Quoting OHLC
{quote} {image}
Wow, do you take screens of all the comments here? lol jk.

Here is a tool that I developed that might help you guys; it's my version of Relative Currency Strength. Without tweaking any of the settings you are looking at the RSI of the char pair (blue), the RCS of the base-currency (green) and the RCS of the counter-currency (Red).
Attached Image (click to enlarge)
Click to Enlarge Name: RCS.png Size: 92 KB
Attached File(s)
File Type: ex4 Relative_Currency_Strength.ex4   41 KB | 204 downloads
  • #69,643
  • Oct 12, 2017 1:58pm Oct 12, 2017 1:58pm
Quoting Nicholishen
{quote} Wow, do you take screens of all the comments here? lol jk. Here is a tool that I developed that might help you guys; it's my version of Relative Currency Strength. Without tweaking any of the settings you are look at the RSI of the char pair (blue), the RCS of the base-currency (green) and the RCS of the counter-currency (Red).{image} {file}
lol my phone was on that page already and I hadn't refreshed.
Here's Tom with the weather.
  • #69,644
  • Oct 12, 2017 2:23pm Oct 12, 2017 2:23pm
Quoting NagaMas
{quote} Nicholishen, you deleted your last post that bring some good point on USD, YEN and EURO. I have the same view as what you wrote. I Working with UJ nowadays within 4 hour period with a kind of scalp style. When it is close to the end of 4 hour period, just liquidate the position I got regardless how many pips I got.
My favorite time to scalp UJ is from 23:00 - 03:00 UTC. Are you in that same window?
  • #69,645
  • Oct 12, 2017 5:50pm Oct 12, 2017 5:50pm
Tuesday was an outside bar and inside bars followed on Wednesday and Thursday. May be setting up for a big move.
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  • #69,646
  • Oct 12, 2017 5:55pm Oct 12, 2017 5:55pm
Quoting SunTrader
Tuesday was an outside bar and inside bars followed on Wednesday and Thursday. May be setting up for a big move. {image}
So how are you trading it? Which way is it going to go?
  • #69,647
  • Oct 12, 2017 6:58pm Oct 12, 2017 6:58pm
Quoting Nicholishen
{quote} So how are you trading it? Which way is it going to go?
It's going to go the way it goes. I don't predict, I react.

For instance, using daily bars, the closing price not range is what is most important.
  • #69,648
  • Oct 12, 2017 7:06pm Oct 12, 2017 7:06pm
Quoting SunTrader
{quote} It's going to go the way it goes. I don't predict, I react. For instance, using daily bars, the closing price not range is what is most important.
How will you react? By saying you knew what was going to happen after the fact?

How is closing price relevant when you use a timezone that is arguably the least used in forex? All your daily pivots are going to be wrong unless you're adjusting for UTC offset.
  • #69,649
  • Oct 12, 2017 7:21pm Oct 12, 2017 7:21pm
Quoting Nicholishen
{quote} How will you react? By saying you knew what was going to happen after the fact? How is closing price relevant when you use a timezone that is arguably the least used in forex? All your daily pivots are going to be wrong unless you're adjusting for UTC offset.
How that's BTC short going bawawawahahaha.

Keep up the good work betting against a monster trend. You'll teach them.

BTW I don't use what the crowd uses, daily pivots. And I don't trade forex, I trade futures currencies. I only post forex charts here because that is what the majority know and only understand. Pip pip and all that. Ticks and cars, what are those?

In any case stick around a few years and maybe then you will know what timezone is the one correct one to use depending where in the world you are located. Maybe.
  • #69,650
  • Oct 12, 2017 7:25pm Oct 12, 2017 7:25pm
Quoting Nicholishen
{quote} How will you react? By saying you knew what was going to happen after the fact? How is closing price relevant when you use a timezone that is arguably the least used in forex? All your daily pivots are going to be wrong unless you're adjusting for UTC offset.
NY closing price is relavant even weeks later :-)
  • #69,651
  • Oct 12, 2017 8:34pm Oct 12, 2017 8:34pm
Quoting SunTrader
{quote} How that's BTC short going bawawawahahaha. Keep up the good work betting against a monster trend. You'll teach them. BTW I don't use what the crowd uses, daily pivots. And I don't trade forex, I trade futures currencies. I only post forex charts here because that is what the majority know and only understand. Pip pip and all that. Ticks and cars, what are those? In any case stick around a few years and maybe then you will know what timezone is the one correct one to use depending where in the world you are located. Maybe.
I broke even, thanks for asking. And as usual your low-effort hindsight analysis tells me everything I need to know about you as a trader, you're not one. What kind of trader would buy BTC at the all-time high, in the face of resistance, and counter to really bad fundamentals. The only reason it popped was because of speculation that China might reverse the crypto ban, but you wouldn't know that since "fundamentals don't matter" and your magical hindsight crystal ball told you after the fact that's how you should have traded it. I hate to be the one to break it to you but "should-have/could-have" trades won't build your account.

I'm also calling BS on futures trading because you literally provide nothing but hindsight, and when asked what your view is you always give out the same old tired "trade the reaction"quip. This is how the conversation with you goes down on many of the threads I've seen...

OP: "So SunTrader, what's your view, how will you trade this?"
ST: "I don't trade, I trade the reaction."
...later...
OP: "So what was your trade?"
ST: "I didn't trade, but it was obvious that everyone should have done x"
  • #69,652
  • Oct 12, 2017 8:45pm Oct 12, 2017 8:45pm
Quoting srt
{quote} NY closing price is relavant even weeks later :-)
I've never seen any data that quantifes daily-close prices alone can increase edge (in forex). Do you have any references, I'm genuinely curious.
  • #69,653
  • Oct 12, 2017 9:11pm Oct 12, 2017 9:11pm
any pro trader long UJ?
  • #69,654
  • Oct 12, 2017 9:36pm Oct 12, 2017 9:36pm
@MMO1991:Not sure what is meaning of protrader but this is what it was 46 hours ago.Not sure if it is still good

Quoting 4xjunkie
So far we have the 4xjunkie and ohlc in the green camp darthpip,nagamas,and Mr.yen In the red camp. and mwfinad1211 is on the fence for now. I will be back again tomorrow lets see what we get. if anyone wants to keep the tally going it would be great. the trade is which will price strike first from here. 115.495 or 107.5

I have a feeling we might see a big selloff in london session tonight.
Your friendly neighbourhood Sith
  • #69,655
  • Oct 12, 2017 9:43pm Oct 12, 2017 9:43pm
Quoting mmo1991
any pro trader long UJ?
thanks God, I'm not Pro

expecting 111.700 only

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  • #69,656
  • Oct 12, 2017 9:48pm Oct 12, 2017 9:48pm
Quoting darthPip
@MMO1991:Not sure what is meaning of protrader but this is what it was 46 hours ago.Not sure if it is still good {quote}
As far as i know the list is still good, i have not seen anyone saying which camp they want to be in lately. if you want to change sides let me know ill update it. I felt that i may have upset the status quo of the forum so i've been staying on the sidelines, let things temper a little. if i mentioned a pro trader in one of my comments i probably was referring to a commercial trader.
  • #69,657
  • Oct 12, 2017 9:58pm Oct 12, 2017 9:58pm
Quoting 4xjunkie
{quote} As far as i know the list is still good, i have not seen anyone saying which camp they want to be in lately. if you want to change sides let me know ill update it. I felt that i may have upset the status quo of the forum so i've been staying on the sidelines, let things temper a little. if i mentioned a pro trader in one of my comments i probably was referring to a commercial trader.
Hi,
This forum is no-man land, so there is no status quo. It's good that you try to spark the active n positive debates so that we can fully benefit of the 'interactive' value. We need additional humors as well in this dry forum..

keep up posting.. cheers
  • #69,658
  • Oct 12, 2017 10:01pm Oct 12, 2017 10:01pm
Quoting NagaMas
{quote} Hi, This forum is no-man land, so there is no status quo. It's good that you try to spark the active n positive debates so that we can fully benefit of the 'interactive' value. We need additional humors as well in this dry forum.. keep up posting.. cheers
+1 to what you are saying.Sometimes friendly banter between bulls and bears don't hurt as long as they are not taken personally!!
Your friendly neighbourhood Sith
  • #69,659
  • Oct 12, 2017 10:02pm Oct 12, 2017 10:02pm
lets see if we can get some conversations going tonight. i have a couple hours to spend. hanging out. im not a news trader, is there anything anyone is looking at for this week that may spark some volatility, this week. or any outside news that might help push things one way or the other. I feel the only stupid question is the one thats not asked. here's my 2 cents. my long term bias for this pair is short. japan needs to keep there currency cheep to help fuel there exports. and I thought that they were going to pull back the stock markets this year but is has not happened. we should at least see a correction.
  • #69,660
  • Oct 12, 2017 10:17pm Oct 12, 2017 10:17pm
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