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USD/JPY Discussion

  • #73,561
  • Feb 21, 2018 4:14pm Feb 21, 2018 4:14pm
Quoting nealpek
{quote} Don't know why I got it,lol!!
Congratulations, it's customary to share a good trade tip when you get that red diamond!

Or throw a buffet.

Or post porn.

I'm kidding on one, make your guess which!
  • #73,562
  • Feb 21, 2018 6:45pm Feb 21, 2018 6:45pm
Quoting MrPresident
{quote} https://www.investopedia.com/ask/ans...ge-and-sp-500/ S&P can give a better indication of what happens in the market
One thing that article does not go into is that far more money is invested in index funds following the S&P 500 than the Dow.

And also most money managers gauge themselves against the S&P.

The Dow is the most well known so the retail crowd watches it and especially the media, but not the pros.
  • #73,563
  • Feb 21, 2018 7:27pm Feb 21, 2018 7:27pm
Equities futures are on the move again down.
  • #73,564
  • Feb 21, 2018 7:44pm Feb 21, 2018 7:44pm
Quoting SunTrader
Equities futures are on the move again down.
Maybe this pair will go down to 105 sooner than expected
Don't Worry Be Happy
  • #73,565
  • Feb 21, 2018 8:18pm Feb 21, 2018 8:18pm
Quoting MrPresident
{quote} Maybe this pair will go down to 105 sooner than expected
like you dont want it at 105 yet???? break of 107.3issh
Keep the Lights on then you can catch the rise from the dark.
  • #73,566
  • Feb 21, 2018 8:23pm Feb 21, 2018 8:23pm
I think its a good place to add to my long position.
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  • #73,567
  • Feb 21, 2018 11:04pm Feb 21, 2018 11:04pm
Quoting 4xjunkie
I think its a good place to add to my long position.{image}
Can you walk me through your thinking/analysis? Preferably in laymans terms
  • #73,568
  • Feb 21, 2018 11:12pm Feb 21, 2018 11:12pm
Quoting jagdpanther
{quote} Can you walk me through your thinking/analysis? Preferably in laymans terms
Not a problem, give me a few to make up a chart, Im home schooled so should not be too bad.
  • #73,569
  • Feb 21, 2018 11:52pm Feb 21, 2018 11:52pm
I tried to keep is simple. Its nothing like what I posted earlier I try to use something commonly accepted to explain my self. That is why i tend to put a harmonic pattern or a fib on the charts I post to show what im thinking, makes it a lot simpler, I do not trade from m1 charts all of the time I try to use the larger time frames for direction and small charts for entrys. But I watch them alot.
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  • #73,570
  • Feb 22, 2018 12:15am Feb 22, 2018 12:15am
Quoting 4xjunkie
I tried to keep is simple. Its nothing like what I posted earlier I try to use something commonly accepted to explain my self. That is why i tend to put a harmonic pattern or a fib on the charts I post to show what im thinking, makes it a lot simpler, I do not trade from m1 charts all of the time I try to use the larger time frames for direction and small charts for entrys. But I watch them alot.{image}

Thanks for that. Ill keep an eye open for these things in the future see if I can apply your logic.
  • #73,571
  • Feb 22, 2018 12:29am Feb 22, 2018 12:29am
Quoting jagdpanther
{quote} Thanks for that. Ill keep an eye open for these things in the future see if I can apply your logic.
Start with M patterns they can go up or down but the ones that go up get stuck, then go up, it dose not matter what tf you on. Or look within the current trend for a repeating pattern, it typically prints 2 different patterns at a time alternating large and small. helps give hints, and when I say pattern not a harmonic pattern with 2 triangles, actual market structural patterns. if you can watch a small range chart or a tick chart it will show them better. dont trade from the unless you are certain, but still not recommended. They all start small. the current Nj 15m chart is one that looks like it got stuck.
  • #73,572
  • Feb 22, 2018 4:19am Feb 22, 2018 4:19am
So far I am bearish, I had my TP set at 107.00 but it may not get there in time for the US Open and I do not want to be in a trade for too long so I have moved my TP to 107.21 where I will get a re-test

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To Pipccess and Beyond
  • #73,573
  • Feb 22, 2018 4:21am Feb 22, 2018 4:21am
Quoting 4xjunkie
I think its a good place to add to my long position.{image}

Lol you are buying and I am selling, may the best man win
To Pipccess and Beyond
  • #73,574
  • Feb 22, 2018 5:29am Feb 22, 2018 5:29am
Classic shake-out. They're trying to scare all the weak sisters. Too much money was made yesterday and the institutions need to cover their hedge.
Japan had their turn bashing USD all eyes on NY.
  • #73,575
  • Feb 22, 2018 6:53am Feb 22, 2018 6:53am
Adjust your tin foil hat.
  • #73,576
  • Feb 22, 2018 7:07am Feb 22, 2018 7:07am
"Broken record" here again, Which way has the trend been. And which way have many continued to look to enter a trade. Yup.
  • #73,577
  • Feb 22, 2018 7:44am Feb 22, 2018 7:44am
i'm selling now, target 105 before a bounce

106.3 is probably the nearest relevant support level

Inserted Video
Don't Worry Be Happy
  • #73,578
  • Feb 22, 2018 7:49am Feb 22, 2018 7:49am
time to short >_< it will go to 105.xxx
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  • #73,579
  • Feb 22, 2018 7:57am Feb 22, 2018 7:57am
S&P didn't recover this week and maybe it won't today as the market continues to expect higher interest rates and stronger inflation.

Yields didn't recover much this week either.

Makes sense to sell USD/JPY I guess.
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Don't Worry Be Happy
  • #73,580
  • Feb 22, 2018 8:01am Feb 22, 2018 8:01am
Quoting nealpek
Every trader sees something different. More than one perspective is ideal. This 4 hour line chart shows a perfect rejection of the first upswing on the lower tail. There are many ways to see the market!!! When the market stalled in this area, it gave me the confidence to load up my positions!! {image}
I took the engulfment off that yesterday, it also fits in well with the COT report of last week for both the USD and the JPY
To Pipccess and Beyond
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