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USD/JPY Discussion

  • #70,041
  • Oct 17, 2017 9:45am Oct 17, 2017 9:45am
Am I noticing random waves of yen strengths or am I missing some news?
  • #70,042
  • Oct 17, 2017 9:50am Oct 17, 2017 9:50am
shorting this pair is not working out so well for me

i think that it will remain in a range between 112.9 and 111.4
Don't Worry Be Happy
  • #70,043
  • Oct 17, 2017 10:16am Oct 17, 2017 10:16am
Quoting nealpek
Run Forest run,lol {image}
Are my eyes playing tricks or did you delete a post lol
  • #70,044
  • Oct 17, 2017 10:19am Oct 17, 2017 10:19am
I post and delete, just a quirky habit...
  • #70,045
  • Oct 17, 2017 10:24am Oct 17, 2017 10:24am
Quoting nealpek
I post and delete, just a quirky habit...

Well that's weird...
Look Sharp/Trade Tight
  • #70,046
  • Oct 17, 2017 10:25am Oct 17, 2017 10:25am
UJ 5 minute EW almost complete and potential targets. 1 minute count has only broken down to wave 1 of 5 so far:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ EW 5min.png Size: 44 KB
Click to Enlarge Name: UJ EW 5min targets.png Size: 34 KB
  • #70,047
  • Oct 17, 2017 10:32am Oct 17, 2017 10:32am
Quoting nealpek
I post and delete, just a quirky habit...
Er...so at what price was your last batch of UJ longs?
  • #70,048
  • Oct 17, 2017 10:37am Oct 17, 2017 10:37am
in at .23 .23 and .34 last one
  • #70,049
  • Oct 17, 2017 10:42am Oct 17, 2017 10:42am
Quoting nealpek
in at .23 .23 and .34 last one
I took some at .323, let's see.
  • #70,050
  • Oct 17, 2017 10:44am Oct 17, 2017 10:44am
Quoting MoneyFocus
{quote} I took some at .323, let's see.
You guys must have nice size accounts to be able to place multiple trades in the same pair... That's nice.
Here's Tom with the weather.
  • #70,051
  • Oct 17, 2017 10:46am Oct 17, 2017 10:46am
Quoting OHLC
{quote} You guys must have nice size accounts to be able to place multiple trades in the same pair... That's nice.
This is my first UJ trade of the day actually...though I'm short Nzd/Usd as well, so that's USD long exposure, not sure if you would see it as being in the same camp though. But damnnit, Nzd/Usd is pretty resilient. Hate it. Feel free to offer me advice on that lol.
  • #70,052
  • Oct 17, 2017 10:56am Oct 17, 2017 10:56am
Go to any chart, regardless of time frame, and map out where the "money" conducted business, preferably around whole numbers, and you have a very valid gauge of sentiment, in my opinion of course!!
  • #70,053
  • Oct 17, 2017 10:59am Oct 17, 2017 10:59am
I'm still of the opinion that this is a protracted accumulation phase. I think we could see UJ break down and go on a stop-run past support.
Attached Image (click to enlarge)
Click to Enlarge Name: accumulation.png Size: 54 KB
  • #70,054
  • Oct 17, 2017 10:59am Oct 17, 2017 10:59am
Quoting MoneyFocus
{quote} This is my first UJ trade of the day actually...though I'm short Nzd/Usd as well, so that's USD long exposure, not sure if you would see it as being in the same camp though. But damnnit, Nzd/Usd is pretty resilient. Hate it. Feel free to offer me advice on that lol.
On NZDUSD, I don't trade this pair but looking at the chart, having to choose, I'd be biased short targeting 0.71469. I'd go with a wide stop though because it's likely to meander a bit, maybe a stop around 0.71853. And really this is premature because I'd have to wait for daily candle close to be certain.
Here's Tom with the weather.
  • #70,055
  • Oct 17, 2017 11:02am Oct 17, 2017 11:02am
Quoting Nicholishen
I'm still of the opinion that this is a protracted accumulation phase. I think we could see UJ break down and go on a stop-run past support.
Could be, one thing is for certain. The market will tell us what it wants to do!! I've learned not to anticipate anything as the market is always full of surprises!!
I only trade what I see...
  • #70,056
  • Oct 17, 2017 11:05am Oct 17, 2017 11:05am
Quoting OHLC
{quote} On NZDUSD, I don't trade this pair but looking at the chart, having to choose, I'd be biased short targeting 0.71469. I'd go with a wide stop though because it's likely to meander a bit, maybe a stop around 0.71853. And really this is premature because I'd have to wait for daily candle close to be certain.
Absolutely annoyed with this sell, as I thought breaching .7150 will give us further downside..but apparently it didn't.

Really need much stronger USD rallies.
  • #70,057
  • Oct 17, 2017 11:09am Oct 17, 2017 11:09am
Quoting nealpek
{quote} Could be, one thing is for certain. The market will tell us what it wants to do!! I've learned not to anticipate anything as the market is always full of surprises!! I only trade what I see...
I think the market is telling us what it want's to do. There's a lot of accumulation and what appears (to me) to be the development of a bull-trap. If this is a trap then dealers aren't long enough and they're winding up for something big.
  • #70,058
  • Oct 17, 2017 11:10am Oct 17, 2017 11:10am
Quoting Nicholishen
{quote} I think the market is telling us what it want's to do. There's a lot of accumulation and what appears (to me) to be the development of a bull-trap. If this is a trap then dealers aren't long enough and they're winding up for something big.
perhaps... can you be certain it's accumulation for the downside, or upside? I have no idea which... not a good enough trader yet! lol
  • #70,059
  • Oct 17, 2017 11:23am Oct 17, 2017 11:23am
Quoting nealpek
{quote} perhaps... can you be certain it's accumulation for the downside, or upside? I have no idea which... not a good enough trader yet! lol
There's no such thing as certainty in forex, but what I can tell you for certain is that one of the games they play is creating areas of obvious support then running the price up past the breakout point to lure in longs, trap them, and reverse the market to capture their stops below the support. You would typically see this PA when the dealer needs to get long; he's buying up all the stops at a huge discount and his avg position price is lower. Not a guarantee, but food for thought.
  • #70,060
  • Oct 17, 2017 11:24am Oct 17, 2017 11:24am
Snoozing soon....

Where's the rally I've been told there is?
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