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USD/JPY Discussion

  • #70,821
  • Oct 26, 2017 10:51am Oct 26, 2017 10:51am
Quoting NagaMas
scalp UJ down now.. down to 113.550 {image} update {image} update {image} update {image}
You guys are the most brave people I have ever seen for selling; a lot more brave than me because USDJPY is in an uptrend.
Here's Tom with the weather.
  • #70,822
  • Oct 26, 2017 10:52am Oct 26, 2017 10:52am
Quoting OHLC
{quote} You guys are the most brave people I have ever seen for selling; a lot more brave than me because USDJPY is in an uptrend.
actually this is just a DIP, mate
  • #70,823
  • Oct 26, 2017 11:01am Oct 26, 2017 11:01am
Quoting OHLC
{quote} You guys are the most brave people I have ever seen for selling; a lot more brave than me because USDJPY is in an uptrend.
IMO in a correction to an uptrend
  • #70,824
  • Oct 26, 2017 11:03am Oct 26, 2017 11:03am
Quoting NagaMas
{quote} actually this is just a DIP, mate
I think yesterday was the bull-trap and today is a retracement. We couldn't break 76.4% from yesterday's swing high to today's low. It's looking like we might have started a down-trend.
  • #70,825
  • Oct 26, 2017 11:04am Oct 26, 2017 11:04am
Quoting SunTrader
{quote} IMO in a correction to an uptrend
Okay but why not just buy?
Here's Tom with the weather.
  • #70,826
  • Oct 26, 2017 11:13am Oct 26, 2017 11:13am
Quoting Nicholishen
{quote} I think yesterday was the bull-trap and today is a retracement. We couldn't break 76.4% from yesterday's swing high to today's low. It's looking like we might have started a down-trend.
If it closes below 113.248 then I'm there with ya but at that point, I'd still need to see one more day to be sure of that downtrend. That scenario basically happened on EURUSD. It showed uptrend but after waiting for it one to day to prove it, it wasn't able to prove it and price shot down the other way.
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Here's Tom with the weather.
  • #70,827
  • Oct 26, 2017 11:25am Oct 26, 2017 11:25am
Quoting OHLC
{quote} Okay but why not just buy?
Why not wait - for the correction to end?

Add: I see you are a user of RSI(2).
  • #70,828
  • Oct 26, 2017 11:41am Oct 26, 2017 11:41am
Quoting SunTrader
{quote} Why not wait - for the correction to end? Add: I see you are a user of RSI(2).
lol oh but the corrections are the good stuff. You can reach deep, deep into its pocket and take its lunch money for the day.

Add: Nice. Yeah I like it only for confirmation of feeling, not for signaling. It's a feel good indicator. But even then, I only look at it only on certain situations. In general, I think it's near impossible to remain consistent if I'm relying on indicators for signaling.
Here's Tom with the weather.
  • #70,829
  • Oct 26, 2017 12:03pm Oct 26, 2017 12:03pm
On the weekly, not so sure we're in an uptrend????? Could be a correction of uptrend, and could be correction of newer downtrend...Any thoughts?
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  • #70,830
  • Oct 26, 2017 12:10pm Oct 26, 2017 12:10pm
Quoting nealpek
On the weekly, not so sure we're in an uptrend????? Could be a correction of uptrend, and could be correction of newer downtrend...Any thoughts? {image}
I looked and it is certainly in an uptrend. I personally use the Daily chart for intraday trading. For a second I thought about placing a longterm trade using the Weekly but, it bugs me just thinking about it. I'd really be annoyed to have an open trade going into the next day(s). People that trade longterm have more patience than I do, for cast iron patience.
Here's Tom with the weather.
  • #70,831
  • Oct 26, 2017 12:23pm Oct 26, 2017 12:23pm
Not quite sure what you see, but I see a "possibility" of returning to the 107's, before resuming an uptrend, if we're in one. Just as plausible as going straight north...
Who knows, it'll be fun either way,lol
  • #70,832
  • Oct 26, 2017 3:40pm Oct 26, 2017 3:40pm
Ohlc , remember 112.5 and the brick wall on the 3rd shot, this should be the inverse of that. We have had 2 shots at 114, another pullback then a violent run back up and it happens again brick wall .
  • #70,833
  • Oct 26, 2017 4:57pm Oct 26, 2017 4:57pm
Quoting 4xjunkie
Ohlc , remember 112.5 and the brick wall on the 3rd shot, this should be the inverse of that. We have had 2 shots at 114, another pullback then a violent run back up and it happens again brick wall .
Without sounding presumptuous, I'll give some thought on USDJPY while traveling! I looked at 112.5 but personally, if I must look in that area then I'd be looking at 112.205. That's the one that matters. About 114, I'm not sure what the significance is with this one. Maybe you're looking for long trade target area? In that case, I'd be looking somewhere between 114.097 and 114.243. I'm traveling so I'm not looking to buy USDJPY today but, that's what I'd be doing if I had to trade USDJPY today. I'd look for a buy in the 113.701, 113.699, 113.883 areas. If I'm overzealous, I might buy around 113.815. But in any case, if I were trading today, I'd look for something with more meat left on its bones such as GBPUSD. Out of the majors, I try to choose two pairs with the most meat left on their bones. There are other pairs that have more meat on their bones than a buy trade on USDJPY today.
Here's Tom with the weather.
  • #70,834
  • Oct 26, 2017 6:05pm Oct 26, 2017 6:05pm
Anyone trading the JPY CPI News?
  • #70,835
  • Oct 26, 2017 7:21pm Oct 26, 2017 7:21pm
There was a significant price changes on USD/JPY, but there is no a news when the price changes fastly, what should i do ?

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  • #70,836
  • Oct 26, 2017 8:09pm Oct 26, 2017 8:09pm
Quoting jamean
There was a significant price changes on USD/JPY, but there is no a news when the price changes fastly, what should i do ? {image}

Just my two cents worth. Whatever changes, need to obey the rule of Market equilibrium. After dust settled, prices will move basis where its ideally supposed to be. If thats the case just wait. You got alot of range level suppt/resist to pend with.
Sincerely Yours Cheers!
  • #70,837
  • Oct 26, 2017 8:30pm Oct 26, 2017 8:30pm
Quoting NagaMas
scalp UJ down now.. down to 113.550 {image} update {image} update {image} update {image} update {image} update {image}
about Yesterday scalp.

I observed M5 TF and found this TL, so I closed All at that level due to the TL was not have enough prerequisite to be broken

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  • #70,838
  • Edited 11:33pm Oct 26, 2017 9:09pm | Edited 11:33pm
the price is at critical level based on my view

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I'm on bullish view now.. not sure yet
  • #70,839
  • Oct 26, 2017 9:41pm Oct 26, 2017 9:41pm
Quoting kptrader
Anyone trading the JPY CPI News?
I'm never around to trade the news but if I were, I'd try to trade it after the release. Maybe an hour afterwards. Did you trade it?
Here's Tom with the weather.
  • #70,840
  • Oct 26, 2017 10:02pm Oct 26, 2017 10:02pm
good evening traders, well its evening on the pacific northwest. tuff battle today really one way. it might be over. the formation is long enough. have not studied this one enough. the inside candle signals this formation is complete when its pionted down.
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it looks like gj and ej are truning up on the 4 hr charts
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