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USD/JPY Discussion

  • #73,161
  • Feb 9, 2018 6:51am Feb 9, 2018 6:51am
Quoting MrPresident
it got close to 108.5 and then reversed, maybe there will be another attempt i put a buy limit at 108.5, target 109.75
worked out well for me, nice profit of 70 pips

maybe there will be a retest of 108.5 after stocks open for the day
Don't Worry Be Happy
  • #73,162
  • Feb 9, 2018 6:52am Feb 9, 2018 6:52am
Just looking in hindsight, and that ignored demand area (last push high yesterday) has been a beautiful pocket of orders to short from between 109.38 to 109.26.
  • #73,163
  • Feb 9, 2018 6:58am Feb 9, 2018 6:58am
Stocks and yields are down before market opens. This might weigh negatively on USD/JPY and push it back to 108.5 or lower.
Don't Worry Be Happy
  • #73,164
  • Feb 9, 2018 7:14am Feb 9, 2018 7:14am
A bit of struggle happening here..
I play the trade gamble to feed my Porsche addiction.
  • #73,165
  • Feb 9, 2018 7:19am Feb 9, 2018 7:19am
What's the struggle?
  • #73,166
  • Feb 9, 2018 7:24am Feb 9, 2018 7:24am
Bull and Bear fight
I play the trade gamble to feed my Porsche addiction.
  • #73,167
  • Feb 9, 2018 7:26am Feb 9, 2018 7:26am
There is no fight....When the wealth decides to unwind there positions and unload trillions of dollars of stock to cash in on their profits, there really isn't anything anyone can do. Stocks are too expensive and there is no "value" at these prices, or said another way, how does anyone make money from stocks including forex?
Making money isn't possible when the market is high. They need to to buy when Prices are on sale. Been doing it in the markets since the beginning of time. The bulk of the wealthy drive up the markets, take their profits, which turns the markets lower, people panick and cash out on the way down for fear of losing all their gains, which further accelerates the decline, until a point where the "money"decides that prices are good now, or on sale, in order to drive prices up once again, and repeat the same cycle. Happens usually about every 10 years or so! It's the "model" of the stock market!!
  • #73,168
  • Feb 9, 2018 7:46am Feb 9, 2018 7:46am
Budget deal signed, bulls coming back.
  • #73,169
  • Feb 9, 2018 7:50am Feb 9, 2018 7:50am
Holy crap!
I play the trade gamble to feed my Porsche addiction.
  • #73,170
  • Feb 9, 2018 7:55am Feb 9, 2018 7:55am
nice spike took out some stops, perhaps a sign of bull recovery
Don't Worry Be Happy
  • #73,171
  • Feb 9, 2018 8:09am Feb 9, 2018 8:09am
Quoting MrPresident
nice spike took out some stops, perhaps a sign of bull recovery
Which stops? If you were a recent seller you have buy stops resting. To take those stops, they have to "sell" to take your stop. Could be a legitimate up move, or just grabbing more units before continuing south. Time will tell....
  • #73,172
  • Feb 9, 2018 8:54am Feb 9, 2018 8:54am
Here's the reason for the middle finger spike!
"Japan govt set to reappoint Kuroda as BOJ Governor: Kyodo"

I'm still suspect about the spike because price jumped 40 pips on irrelevant news, and very thin volume.
Confusion all around,lol I'll let price structure be my guide, not what I think.
Still short until structure tells me I'm wrong, but tightening my stops.
  • #73,173
  • Feb 9, 2018 9:15am Feb 9, 2018 9:15am
Quoting nealpek
Here's the reason for the middle finger spike! "Japan govt set to reappoint Kuroda as BOJ Governor: Kyodo" I'm still suspect about the spike because price jumped 40 pips on irrelevant news, and very thin volume. Confusion all around,lol I'll let price structure be my guide, not what I think. Still short until structure tells me I'm wrong, but tightening my stops.
The spike also occurred only a few minutes after a budget deal was approved preventing another US Govt. shutdown.

Probably combine those two things and that explains it.
  • #73,174
  • Feb 9, 2018 9:49am Feb 9, 2018 9:49am
Guess the spike really was "the middle finger"
  • #73,175
  • Feb 9, 2018 9:50am Feb 9, 2018 9:50am
now, why are they dumping it??
  • #73,176
  • Feb 9, 2018 9:52am Feb 9, 2018 9:52am
Must close position today, as too volatile to hold over weekend, so where's the exit,lol Dow is negative again....
  • #73,177
  • Feb 9, 2018 9:57am Feb 9, 2018 9:57am
Quoting petehnm
now, why are they dumping it??
The rulers of the market plan ahead, and know what's coming before we do. Everything you see on your charts isn't random by any means. It all "flows" from short term and long term goals set out way in advance of price. They know how the markets will perform before the opening bells. Who do you think is responsible for the gains and the falls? Their is no logic to their methods that we will ever understand. The key is to spot the clues they leave as to the directions they've chosen!!

Same reasoning behind all the BS news releases. Great NFP spikes price up one day, and great NFP spikes price down the next time. No logic whatsoever! The logic lies in trapping and giving "the middle finger" to the unsuspectings and relieving them of their money! That's the game, as cruel as it gets. To trade these markets, you have to expect and anticipate when and where these events will occur, and stay out of their way!!
  • #73,178
  • Feb 9, 2018 10:06am Feb 9, 2018 10:06am
Quoting nealpek
{quote} The rulers of the market plan ahead, and know what's coming before we do. Everything you see on your charts isn't random by any means. It all "flows" from short term and long term goals set out way in advance of price. They know how the markets will perform before the opening bells. Who do you think is responsible for the gains and the falls? Their is no logic to their methods that we will ever understand. The key is to spot the clues they leave as to the directions they've chosen!!
The rulers SUCK!!!...lol...but I agree with you for the longest time I've been trying to put together the right or at least the best possible chart configuration..support and resistance lines along with volume seems to help keep me in the game, could use a couple more to help out.
  • #73,179
  • Feb 9, 2018 10:16am Feb 9, 2018 10:16am
I'm looking down in the early 108's for an exit, if it can get near there, I'll cash out!!
  • #73,180
  • Feb 9, 2018 10:16am Feb 9, 2018 10:16am
There's a key level of support being approached, how low do people think it is going to go... possible breakthrough??

(I'm not going to post a pic because I'm assuming everyone knows the support I am talking about)
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