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USD/JPY Discussion

  • #73,481
  • Feb 20, 2018 6:36pm Feb 20, 2018 6:36pm
Quoting SunTrader
9 posts in 4 years hmmm.
My boss got me onto it 4 years ago. tried it out without knowing what i was doing. Lost sleep because i kept positions open while i slept, through news etc.

Took random punts.

Lost money.

Tried it again a few years later. Learned how to use fib tool. Looked too far into things, didnt follow trends because i was anticipating reversals before they happened.

Lost money

Got a notice on my phone from IG saying the usd/jpy has at a low. Took a look. Liked what I saw. Learned RSI.

Lost money. Gained money. Currently up a case of beer. Still dying to learn more and give it another crack.

So i hope that answers the question about 9 posts in 4 years.
  • #73,482
  • Feb 20, 2018 6:54pm Feb 20, 2018 6:54pm
Quoting jagdpanther
{quote} My boss got me onto it 4 years ago....
Did he put a gun to your head or bribe you with that case of beer. Hopefully the latter.
  • #73,483
  • Feb 20, 2018 7:03pm Feb 20, 2018 7:03pm
Quoting SunTrader
{quote} Did he put a gun to your head or bribe you with that case of beer. Hopefully the latter.
Nar just had a great trading sesh and walked in gloating about how he made $17k overnight... At that time I wash fresh out of uni earning 45k a year so it sounded pretty good.
  • #73,484
  • Feb 20, 2018 7:14pm Feb 20, 2018 7:14pm
Just out of curiosity what is the current stance of the bears, are you still siding with them?
To Pipccess and Beyond
  • #73,485
  • Feb 20, 2018 8:01pm Feb 20, 2018 8:01pm
Quoting forexin101
Just out of curiosity what is the current stance of the bears, are you still siding with them?
I think the bears were done around 105.77 last week. 107.520 was a pretty key level last week. Price dropped and sat on it for a bit, dropped under, then tested it as resistance, before continuing to go down. Today, price just pushed right through it without any hesitation, tested it as support for a bit, then continued to move up. A simple look at the volumes on the 1M chart shows the strongest volumes are on the bull candles. Not a good idea to try and short right now IMO. Maybe 107.880 might be an alright area for a quick short, but we've already broken last year's lows. Kind of hard to say it's still looking bearish at the moment.
  • #73,486
  • Feb 20, 2018 8:10pm Feb 20, 2018 8:10pm
Quoting 4xNewGuy
{quote} Not a good idea to try and short right now IMO. Maybe 107.880...
Yeah, I'm with you for shorting around ~107.8, I've opened another bullish position (short term) but I'm really expecting the bears to kick in, I think this will be after the FOMC
To Pipccess and Beyond
  • #73,487
  • Feb 20, 2018 8:14pm Feb 20, 2018 8:14pm
Quoting forexin101
{quote} Yeah, I'm with you for shorting around ~107.8, I've opened another bullish position (short term) but I'm really expecting the bears to kick in, I think this will be after the FOMC
After this FOMC there is another FOMC which is the 'real deal's FOMC....lol
Your friendly neighbourhood Sith
  • #73,488
  • Feb 20, 2018 8:18pm Feb 20, 2018 8:18pm
Anyone else looking for something around 108.5?
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  • #73,489
  • Feb 20, 2018 8:45pm Feb 20, 2018 8:45pm
no point in selling before 108.5...i think it is going to 110 soon
Don't Worry Be Happy
  • #73,490
  • Feb 20, 2018 8:49pm Feb 20, 2018 8:49pm
Yeah the way this is advancing is crazy, just by looking at the strong H4 CS I had to cancel my Sell limit order
To Pipccess and Beyond
  • #73,491
  • Feb 20, 2018 8:52pm Feb 20, 2018 8:52pm
Quoting MrPresident
no point in selling before 108.5...i think it is going to 110 soon
what if it just an impulsive move, going to hard to exceed 300 pips without a pullback. just my opinion. hoping to see some acceleration.
  • #73,492
  • Feb 20, 2018 9:00pm Feb 20, 2018 9:00pm
Aaaaaand my risk of having a heart attack just dropped 3000%. Got out of some nasty longs I was holding since last week.
  • #73,493
  • Feb 20, 2018 9:03pm Feb 20, 2018 9:03pm
This thing is a monster. She just keeps going.
  • #73,494
  • Feb 20, 2018 9:17pm Feb 20, 2018 9:17pm
This is why I love the Yen pairs, they're so volatile, I used to only trade the EURUSD and similar stable currencies because I liked that they where stable but they're too stiff compared to this
To Pipccess and Beyond
  • #73,495
  • Feb 20, 2018 9:39pm Feb 20, 2018 9:39pm
She's still going up , USD is still rocking ~ let see if it breaks the 108.5 ~ good selling opportunity if it reached 110
1 simple mistake makes you become 1000x better.
  • #73,496
  • Feb 20, 2018 9:46pm Feb 20, 2018 9:46pm
looks like .80 just rejuect pa.
  • #73,497
  • Feb 20, 2018 9:57pm Feb 20, 2018 9:57pm
Quoting forexin101
Just out of curiosity what is the current stance of the bears
bears are sitting on their hands...personally, I'll have a look at 108ish today and see what type of PA we get there...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #73,498
  • Feb 20, 2018 10:01pm Feb 20, 2018 10:01pm
Quoting forexin101
This is why I love the Yen pairs, they're so volatile, I used to only trade the EURUSD and similar stable currencies because I liked that they where stable but they're too stiff compared to this
I just find they're good for some quick day trading. They seem to have that up and down chop that can net you a quick 15 pips here and there throughout the day. Pairs like the EUR/USD and GBP/USD tend to be more like you gain 60, or lose 30, and that's it for the day.
  • #73,499
  • Feb 20, 2018 10:13pm Feb 20, 2018 10:13pm
On the weekly chart I see 105.000 by the end of next week. But then I'm a little biased as I have leveraged gold etf options that expire Mar 2. Even the daily chart looks like it could reverse.
  • #73,500
  • Feb 20, 2018 10:20pm Feb 20, 2018 10:20pm
Quoting 4xjunkie
looks like .80 just rejuect pa.
new 4h candle low smoked me, should not be sustainable, too steep of an angle on the lower tf
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