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USD/JPY Discussion

  • #71,301
  • Nov 8, 2017 7:58am Nov 8, 2017 7:58am
Quoting dianajs
USD/JPY dropped below 113.60 and I think this is the end of the range for the moment. I have shorted and my target is set at 113.00.
So... actually it isn't the end of the range then?

Anyway, looks bearish as, however plenty of support below at both 113.4, 113.26 and then 113 itself. I would not be short at all, and rather looking for an opportunity to go long.
  • #71,302
  • Nov 8, 2017 8:05am Nov 8, 2017 8:05am
Quoting Starcraftmaz
{quote} So... actually it isn't the end of the range then? Anyway, looks bearish as, however plenty of support below at both 113.4, 113.26 and then 113 itself. I would not be short at all, and rather looking for an opportunity to go long.
Well... we already know who the next fed chair is gonna be, no other big events this week except sporadic news regarding the tax plan and lingering NK stuff, and it's looking like the tax plan is going to be delayed by a year... I'd venture to say the risk is more to the downside at the moment.
  • #71,303
  • Nov 8, 2017 8:08am Nov 8, 2017 8:08am
Quoting Nicholishen
{quote} Well... we already know who the next fed chair is gonna be, no other big events this week except sporadic news regarding the tax plan and lingering NK stuff, and it's looking like the tax plan is going to be delayed by a year... I'd venture to say the risk is more to the downside at the moment.
Excellent analysis of general sentiment!
  • #71,304
  • Nov 8, 2017 8:18am Nov 8, 2017 8:18am
Quoting nealpek
{quote} If AB is supposed to be equal to CD in our physical universe(not sure who decided this golden rule), but this week AB did not equal CD, maybe the concept is flawed. If it's supposed to be true in the markets but not true this week, is the concept truly valid? Just a thought....
Could never understand why whoever came up with the pattern didn't label either in reverse order or refer to it as CD = AB?

Because it really is comparing CD (future swing) to AB (past swing). Not a past swing to a future swing that hasn't happened and/or completed yet.

Same for saying risk/reward of 3 to 1 when it should be reward/risk 3/1.

Someone gets it wrong in the beginning and things just stick.
  • #71,305
  • Nov 8, 2017 8:22am Nov 8, 2017 8:22am
Perhaps the "golden nugget" was thought up and presented to traders by the creators of the game who only have your best interests at heart!!
  • #71,306
  • Nov 8, 2017 8:23am Nov 8, 2017 8:23am
Will gold break out on H1/H4 be stable? Chance is higher that USDJPY will decline some percentages more.
  • #71,307
  • Nov 8, 2017 8:49am Nov 8, 2017 8:49am
Quoting nealpek
Perhaps the "golden nugget" was thought up and presented to traders by the creators of the game who only have your best interests at heart!!
Said in jest I hope.
  • #71,308
  • Nov 8, 2017 8:50am Nov 8, 2017 8:50am
  • #71,309
  • Nov 8, 2017 8:53am Nov 8, 2017 8:53am
Quoting SunTrader
{quote} Could never understand why whoever came up with the pattern didn't label either in reverse order or refer to it as CD = AB? Because it really is comparing CD (future swing) to AB (past swing). Not a past swing to a future swing that hasn't happened and/or completed yet. Same for saying risk/reward of 3 to 1 when it should be reward/risk 3/1. Someone gets it wrong in the beginning and things just stick.
It's not an assignment operator, the variable can go on either side of the equation. x = p OR p = x ... no difference. If we're really splitting hairs it should read
Inserted Code
D = C +(B-A)
  • #71,310
  • Nov 8, 2017 9:00am Nov 8, 2017 9:00am
All perfectly acceptable math concepts! But please don't wager your hard earned deneiros on them
  • #71,311
  • Edited 9:38am Nov 8, 2017 9:24am | Edited 9:38am
Good day traders. It went a bit further than i thought. changes nothing for me. this is the 100 pip pull back. missed it again. maybe next time. the bottom should be in place, we made traditional targets for the larger bearish butterfly pattern.
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things tend to get silly around 11:00 in ny
  • #71,312
  • Nov 8, 2017 9:27am Nov 8, 2017 9:27am
Its been a while the trade is still alive.
Sentiment update.
The trade is 4xjunkie long to 115.495 darth pip short to 107.5 first strike wins.

4xjunkie,ohlc,nagamas,Nicholishen,csc2009,kingoswing,pipqueen18 are in the green camp.

darthpip,nagamas,Mr.yen,SckT, catroot,totsky, are the red camp.
axecap is short to 107

kasper,mwfinad1211 is out for now.
moneyfocus dumped his longs.
anyone wants in just say what camp you want to be in and ill add you. it just for fun.
  • #71,313
  • Nov 8, 2017 10:07am Nov 8, 2017 10:07am
Quoting Nicholishen
{quote} It's not an assignment operator, the variable can go on either side of the equation. x = p OR p = x ... no difference. If we're really splitting hairs it should read D = C +(B-A)
The future is compared to the former. Not the other way around.

No one says yesterday moved x points compared to today. They say today moved x points compared to yesterday.

Nothing to do with assignment operator (it isn't rocket science it's trading) and everything to do with clarity.

Some genius came up with a ackwards way of saying it and it stuck. Nothing else.
  • #71,314
  • Nov 8, 2017 12:06pm Nov 8, 2017 12:06pm
H4 Picture is showing down trend b'cos the price is below of 100 moving average. But if it crosses above the trend line or 100 moving average , i would prefer it to buy otherwise i will sell it when it breaks the bottom channel line..
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  • #71,315
  • Nov 8, 2017 2:56pm Nov 8, 2017 2:56pm
Quoting 4xjunkie
Its been a while the trade is still alive. Sentiment update. The trade is 4xjunkie long to 115.495 darth pip short to 107.5 first strike wins. 4xjunkie,ohlc,nagamas,Nicholishen,csc2009,kingoswing,pipqueen18 are in the green camp. darthpip,nagamas,Mr.yen,SckT, catroot,totsky, are the red camp. axecap is short to 107 kasper,mwfinad1211 is out for now. moneyfocus dumped his longs. anyone wants in just say what camp you want to be in and ill add you. it just for fun.
I'm out of the green-camp. I'm in the chop-camp until the final word on this tax plan.
  • #71,316
  • Nov 8, 2017 3:04pm Nov 8, 2017 3:04pm
Quoting Nicholishen
{quote} I'm out of the green-camp. I'm in the chop-camp until the final word on this tax plan.
Assuming it doesn't do anything crazy in the next hour, the USDJPY candle is not good, at all, in fact I'd say CHFJPY is slightly better but if I were forced to trade JPY, I'd buy on both targeting closest swing high or whatever is your closest SR. There are other better pairs to trade today.
Here's Tom with the weather.
  • #71,317
  • Nov 8, 2017 7:19pm Nov 8, 2017 7:19pm
It looks like it hit head in 114, down to .70 then back up I believe. Charts wil bel later
  • #71,318
  • Nov 8, 2017 8:40pm Nov 8, 2017 8:40pm
Finally back to the charts. I finally took my lumps. 35 red pips. from here if im right I will be up 60 green ones instead of 13.
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edited the pic, new fib. same thing.
  • #71,319
  • Nov 8, 2017 9:07pm Nov 8, 2017 9:07pm
Short term im thinking something like this.
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  • #71,320
  • Nov 8, 2017 9:15pm Nov 8, 2017 9:15pm
Sentiment update.
The trade is 4xjunkie long to 115.495 darth pip short to 107.5 first strike wins.

4xjunkie,ohlc,nagamas,csc2009,kingoswing,pipqueen18 are in the green camp.

darthpip,nagamas,Mr.yen,SckT, catroot,totsky, are the red camp.

Nicholishen, is in the chop-camp until the final word on this tax plan.
axecap is short to 107
kasper,mwfinad1211 is out for now.
moneyfocus dumped his longs.

anyone wants in just say what camp you want to be in and ill add you. it just for fun
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