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USD/JPY Discussion

  • #73,061
  • Feb 4, 2018 12:01pm Feb 4, 2018 12:01pm
Quoting oliverfxldn
Triple bottoms + wedge = Buy??? Any suggestions or help is welcome I'm only new to forex! {image}
I have to ask first, by posting a weekly chart I assume you are looking to establish a long term position - many days to many weeks?
If not then look at lower time frames.

If a long term trade is what you want it looks like move has started but I'd wait for a pullback. Enter on a trigger of some sort - like a new high etc. But keep in mind double, triple tops/bottoms eventually break and USD had worst month of January in 3 years - "the trend, the trend".
  • #73,062
  • Edited 6:19pm Feb 4, 2018 5:55pm | Edited 6:19pm
This is how im going to play it
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stoped out of the first one, reloaded at 109.95
  • #73,063
  • Feb 4, 2018 6:36pm Feb 4, 2018 6:36pm
Quoting SunTrader
{quote} ... "the trend, the trend".
Like I said.

Forex are the best trending markets - especially because so many fight it.
  • #73,064
  • Feb 4, 2018 7:17pm Feb 4, 2018 7:17pm
Usd/Jpy short-term remains positive, immediate resistance around 110.50, I'm expecting further gain if the pair break above the resistance level.
  • #73,065
  • Feb 4, 2018 10:47pm Feb 4, 2018 10:47pm
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  • #73,066
  • Feb 5, 2018 1:27am Feb 5, 2018 1:27am
should get a leg up here.
  • #73,067
  • Feb 5, 2018 3:48am Feb 5, 2018 3:48am
UJ looks to have broken out on the Monthly - Daily
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Come with me if you want to live....
  • #73,068
  • Feb 5, 2018 7:58am Feb 5, 2018 7:58am
long with target 110.8, stop below 109.2
Don't Worry Be Happy
  • #73,069
  • Feb 5, 2018 9:13am Feb 5, 2018 9:13am
Quoting MrPresident
long with target 110.8, stop below 109.2
Funny I have 2 different setups on 15min and 1 hour which both show 110.84

The first one is my 15 min chart, with the flag pattern break, and the 142% push of the pattern.

The second one is the 1 hour chart with the 1 hour flag break and 100% push of the pattern.
Attached Image(s) (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #73,070
  • Feb 5, 2018 10:26am Feb 5, 2018 10:26am
Quoting COGSx86
{quote} Funny I have 2 different setups on 15min and 1 hour which both show 110.84 The first one is my 15 min chart, with the flag pattern break, and the 142% push of the pattern. The second one is the 1 hour chart with the 1 hour flag break and 100% push of the pattern. {image} {image}
COGSx86,

I am pleasantly surprised to see even Technical Analysis from your end. How would you describe your trading mix, I mean how much weight-age you give for Fundamentals vs TA?

Thanks
  • #73,071
  • Feb 5, 2018 3:33pm Feb 5, 2018 3:33pm
Quoting MrPresident
long with target 110.8, stop below 109.2
entered long again from 109.2 area
Don't Worry Be Happy
  • #73,072
  • Feb 5, 2018 4:55pm Feb 5, 2018 4:55pm
Quoting MrPresident
{quote} entered long again from 109.2 area
might be a bad idea since equities will probably continue to sell off
Don't Worry Be Happy
  • #73,073
  • Feb 5, 2018 5:09pm Feb 5, 2018 5:09pm
Yup. Wait till equities settled out before trying longs. Or hey come over to the "dark side" and consider a short.
  • #73,074
  • Feb 5, 2018 6:21pm Feb 5, 2018 6:21pm
Quoting SunTrader
Yup. Wait till equities settled out before trying longs. Or hey come over to the "dark side" and consider a short.
Equities selloff comes as 'someone' finally realised interest rate will be hiked.Lets see what nekkei look like.Asian markets panic at the first trigger.Yen will also plummet.
Your friendly neighbourhood Sith
  • #73,075
  • Feb 5, 2018 6:24pm Feb 5, 2018 6:24pm
stock crash was long overdue and uj reached its highs when market was low.

historic dow versus uj chart anyone?
Your friendly neighbourhood Sith
  • #73,076
  • Feb 5, 2018 10:44pm Feb 5, 2018 10:44pm
Quoting aaven
{quote} COGSx86, I am pleasantly surprised to see even Technical Analysis from your end. How would you describe your trading mix, I mean how much weight-age you give for Fundamentals vs TA? Thanks

Very nice observation on my technical side, alot of things happened today, which overcame the flag pattern that presented itself.

My bias is derived from the fundamental side of Treasury yields, but does that mean the market follows exactly with treasury yields? Of course not, but the market will eventually see the light.

In todays example, yields have shot up, most likely responding to NFP from last week, with stupid money chasing the DOW and S&P, followed by smart money leaving the markets and waiting on the sidelines.

My whole trading has learned to follow the fundamentals with a key eye on the HTF technical side. With that said, the long I took today (for a short period followed by a short), that flag pattern, with its formation, in relation to the wave count on the HTF has a very high probability of hitting the 100% retracement. But if price retraces and breaks the other side of the pattern, the price will hit the other side of the 100% retracement and thats exactly what we seen, and then some.
Attached Image (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #73,077
  • Feb 5, 2018 11:23pm Feb 5, 2018 11:23pm
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  • #73,078
  • Feb 6, 2018 8:10am Feb 6, 2018 8:10am
waiting for what stocks will do once market opens, i think that this pair will continue to slide down towards 108
Don't Worry Be Happy
  • #73,079
  • Feb 6, 2018 8:28am Feb 6, 2018 8:28am
sold at 109.36
  • #73,080
  • Feb 6, 2018 8:42am Feb 6, 2018 8:42am
Quoting greengp
sold at 109.36
the directionless and volatile moves are usually made during market open and close, the price can go both ways so you have to be careful
Don't Worry Be Happy
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