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USD/JPY Discussion

  • #72,961
  • Jan 31, 2018 10:19am Jan 31, 2018 10:19am
USD/JPY remains clearly bearish in the long term and yet is developing within the downward channel that started since January 8. Today the bears paused at 108.30, just above a strong support area. With FOMC ahead this sounds reasonable.
  • #72,962
  • Jan 31, 2018 10:22am Jan 31, 2018 10:22am
i think that there is a bull trap below 110.2 and maybe the market is expecting a positive FOMC statement
Don't Worry Be Happy
  • #72,963
  • Jan 31, 2018 10:32am Jan 31, 2018 10:32am
Quoting MrPresident
i think that there is a bull trap below 110.2 and maybe the market is expecting a positive FOMC statement
Good morning Mr President..I've always heard bull trap or bear trap.any chance you wouldn't mind explaining..at least the bull trap scenario.cause I took a small long at 109.17 and wondering if i should just take my profits or wait..110.20 would be awesome..!!!
  • #72,964
  • Jan 31, 2018 10:33am Jan 31, 2018 10:33am
Uh Oh, FOMC!! My spider senses are tingling.... What do ya think people, or better yet, what are your charts telling you??
I'll bet I'm probably going against what most of you are thinking! We'll soon learn the decision of the markets after this very exciting and intense news that everyone is biting their nails over. I'm just tingling all over....
  • #72,965
  • Jan 31, 2018 10:41am Jan 31, 2018 10:41am
Quoting petehnm
{quote} Good morning Mr President..I've always heard bull trap or bear trap.any chance you wouldn't mind explaining..at least the bull trap scenario.cause I took a small long at 109.17 and wondering if i should just take my profits or wait..110.20 would be awesome..!!!
price is rejected above 109.4 on the 4 hour chart and bulls lose money
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Don't Worry Be Happy
  • #72,966
  • Jan 31, 2018 10:43am Jan 31, 2018 10:43am
Quoting nealpek
Uh Oh, FOMC!! My spider senses are tingling.... What do ya think people, or better yet, what are your charts telling you??
How's it going nealpek..seems that my charts say more up but trend says down..so in other words..hell if I know...lol!!!
  • #72,967
  • Jan 31, 2018 10:44am Jan 31, 2018 10:44am
well with good job numbers for two months... they 'll definately mention rate hike possibility in march. this is pull back the UJ. load up your bullets people.
Whatever is happening right now has happened before and will happen again.
  • #72,968
  • Jan 31, 2018 10:45am Jan 31, 2018 10:45am
Quoting MrPresident
{quote} price is rejected above 109.4 on the 4 hour chart and bulls lose money {image}
Awesome..thanks for explaining..looks like they're already taking it down.
  • #72,969
  • Jan 31, 2018 10:49am Jan 31, 2018 10:49am
Just look for the areas that would cause the most pain in the near future. Right now, If you were long or short, imagine where your stops would be.
As well, look for the areas that have had the largest amount of trade. Chances are, at least in the short term, that price should gravitate towards the places that facilitate large volumes of trading. Where are they on your chart?
  • #72,970
  • Jan 31, 2018 10:57am Jan 31, 2018 10:57am
Quoting nealpek
Just look for the areas that would cause the most pain in the near future. Right now, If you were long or short, imagine where your stops would be. As well, look for the areas that have had the largest amount of trade. Chances are, at least in the short term, that price should gravitate towards the places that facilitate large volumes of trading. Where are they on your chart?
looks like to me that most of the volume is in the 109.00 handle.does that mean they're heading back thee?

I think I'm over analyzing it..lol
  • #72,971
  • Jan 31, 2018 10:59am Jan 31, 2018 10:59am
Most have there stops around the 108.85 area from last run up . We'll see.....
  • #72,972
  • Jan 31, 2018 11:05am Jan 31, 2018 11:05am
go bears go!
Don't Worry Be Happy
  • #72,973
  • Jan 31, 2018 11:07am Jan 31, 2018 11:07am
Quoting MrPresident
go bears go!
no baby no
Think Think Think.
  • #72,974
  • Jan 31, 2018 11:09am Jan 31, 2018 11:09am
Sounds bullish, would be perfect trick for a falland suck everyone in!!! Volume is very high, but price not moving much right now, hhhmmmm!!
We shall see...just have to grab the stops above...
  • #72,975
  • Jan 31, 2018 11:16am Jan 31, 2018 11:16am
Quoting nealpek
Sounds bullish, would be perfect trick for a falland suck everyone in!!! Volume is very high, but price not moving much right now, hhhmmmm!! We shall see...just have to grab the stops above...
wonder what the highest stop they're going to hunt?
  • #72,976
  • Jan 31, 2018 11:17am Jan 31, 2018 11:17am
stops just above, now free to head south, if that's the plan...
  • #72,977
  • Jan 31, 2018 11:29am Jan 31, 2018 11:29am
couldn't hold anymore ..took my profits from 109.17 ..might sell it if it gets back there!! good luck everyone.
  • #72,978
  • Jan 31, 2018 11:32am Jan 31, 2018 11:32am
What a joke. The markets are just one giant mind f*ck. Look at the reaction by most traders to absolutely "NO" news. This is where the big boys are loading up for the next move. It gives them the much needed liquidity to accumulate a massive amount of units for the next move.
  • #72,979
  • Jan 31, 2018 11:34am Jan 31, 2018 11:34am
Quoting nealpek
What a joke. The markets are just one giant mind f*ck. Look at the reaction by most traders to absolutely "NO" news. This is where the big boys are loading up for the next move. It gives them the much needed liquidity to accumulate a massive amount of units for the next move.
no doubt..looking around other sites and the majority of people are bullish..makes wanna go short...lol
  • #72,980
  • Jan 31, 2018 11:36am Jan 31, 2018 11:36am
If you made money, it's a good day! I'm holding out for a while. No offense to anyone, I'm looking for a nice drop!!
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