USD/JPY Discussion

Hi All,

I've been a silent watching for a year or so now and only recently switch to a live account.

I'm only 18 and at college so not rolling in money but managed to build my live account to £1300 since mid Jan, unfortunately, I got it all a bit wrong yesterday and after the 7PM rate news, I left my SELL on, which initially did well but my TP was 108.70, sadly it just missed this and I woke up this morning to find my account at considerably less, I didn't have an SL as I was sure we were going back to 108;s but sadly, had to cut my loses.

Anyway, I've refrained from revenge trading but I'm now thinking I should get back it with a sell. My charts show 109.8 as a max for today, if not next hour and then a slow reversal down to 108.

One thing I am trying to better myself on is working around the disruption of news and what certain things mean. I see a lot of talk about tomorrow but not sure what this will do, I seem to worry more about my trading the more I know and this is effecting my profits.

Anyway, here's to a sell to 108 and hello to you all.

I feel we have hit big resistance at 109.750.

short opened SL 109.85 TP open

it can go up to 110.2 so be careful

only risk what you can afford to lose and put your stops away from noise levels

Time & Price prevails. I had the original time cycle turn at the release of the Federal Reserve statement but price never moved to my target so I had to adjust the time cycle to the next mark depicted in screen shot 195.

Weekly and Daily seems to want higher, looking at 110.3x

same scenario today

Business as usual good numbers across the board an the price comes down...lol

I believe this section is just about over. daily m4 pivot, 400% fib double top and overextended the channel and a harmonic pattern

Well done 4xjunkie!

I'm still in and holding for 108.9...

Feel very anxious, I will break even with what I lost if we can make it there.

you should be ok. i understand the feeling. should get some momo at some point. a lot of times these patterns my indicator draws are close, it must have been optimized of eu pairs, pa tends to take out the stop more often then not then proceed to the targets. thats why i try to just show them as a layer of confirmation and not a strategy. I believe you could stretch 70-80 more pips out if the trade, just keep an eye on things,

I dont think eu is getting very far past 1.2500. so uj needs to get is ars in gear.

got a feeling it has to touch 109.85 first. just a hunch. it would finish out the fib pattern. there are a couple of my home school games I play that could play out, the first is the fib pattern. at some point uj and eu patterns lock togather and they both move in the same direction pip for pip. if uj fires up to 109.85 and eu is banging its head on 1.2500 put the charts side be side and watch the show its pretty unique, try to line up the bid lines on the charts by changint the t.f.'s

some trade lines

109.85 has gravity.

I'm chewing my finger nails off watching and waiting to put a hedge on to cover my ass.

hang in there, i dont have time to explaing the fib game right now but is seems to be playing the 423.6% extention is the spot 109.848 in the game where its over.and pa turns around , maybe after work today.

should get a pump here.bounce off the 300

positive ISM results seems to be pushing USD higher. will it break 110 by tonight?

Maybe, maybe not. But in the meantime make sure you get enough protein.

Pushed it down further than I thought, 109.85 still has gravity, until it's touched

5m chart looks like a trident. Should make a nice move up.

I’m hedged with a buy @ 109.5 just so I can relax this evening. Have my alerts and TP’s set up so just need to keep an eye in order to win this battle, I hope..

108.9 with a jump over 109.5 is what I’m hoping for, or vice versa of course.

Im not too clued up on fibs and news but I’m currently reading a book on this subject. I should have waited but I was doing very well on demo and saw a good opportunity to go live.