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USD/JPY Discussion

  • #74,101
  • Edited 9:24am Mar 6, 2018 9:11am | Edited 9:24am
I'm playing yesterdays upmove as a false move or cleaning of weak shorts. For me, your s and p chart is right in resistance and ripe for a fall! Perfect confluence! All depends how you define support and resistance... I could be wrong, but that's what I see.
With the markets, nothing is ever written in stone. Future action will tell me if i'm right.
  • #74,102
  • Mar 6, 2018 9:17am Mar 6, 2018 9:17am
it does not move according to dollar anymore. just yen. the with crazy BOJ
  • #74,103
  • Mar 6, 2018 9:35am Mar 6, 2018 9:35am
here is what i see in terms of support/resistance
Attached Image (click to enlarge)
Click to Enlarge Name: download (4).png Size: 179 KB
Don't Worry Be Happy
  • #74,104
  • Mar 6, 2018 9:37am Mar 6, 2018 9:37am
So right now if you could only trade with a sell limit, where would you put it? Not clear exactly what you are showing me. The horizontal blue lines?
  • #74,105
  • Mar 6, 2018 9:43am Mar 6, 2018 9:43am
Quoting nealpek
So right now if you could only trade with a sell limit, where would you put it? Not clear exactly what you are showing me. The horizontal blue lines?
support or resistance will be determined by where the current price is

if the price is above the line, then that line is support

if the price is below the line, then that line is resistance

i would put a sell limit around 107.4
Don't Worry Be Happy
  • #74,106
  • Mar 6, 2018 9:44am Mar 6, 2018 9:44am
Quoting Marco-Kanto
{image}
Don't like the PA - out.
Focus.
  • #74,107
  • Mar 6, 2018 9:48am Mar 6, 2018 9:48am
Gotcha Prez, I see what you're doing.
  • #74,108
  • Mar 6, 2018 9:51am Mar 6, 2018 9:51am
Quoting nealpek
{quote} I just added to my short position. The most fascinating part about trading is perspective. Two traders can see exactly the same thing and come to 2 different conclusions. Quite amazing, actually!!! Not saying I'm right, I just find it interesting how people arrive at their decisions.
agree & good luck on those shorts. I added more longs.
newzTrader
  • #74,109
  • Mar 6, 2018 9:55am Mar 6, 2018 9:55am
Just got my tariff info. Canada will be exempt only if it is solved through renegotiating NAFTA..That's a big problem and I don't see a solution soon!
  • #74,110
  • Mar 6, 2018 9:57am Mar 6, 2018 9:57am
Quoting nealpek
{quote} I just added to my short position. The most fascinating part about trading is perspective. Two traders can see exactly the same thing and come to 2 different conclusions. Quite amazing, actually!!! Not saying I'm right, I just find it interesting how people arrive at their decisions.
I made some money so I'm happy. Good luck with your position.
Focus.
  • #74,111
  • Mar 6, 2018 10:10am Mar 6, 2018 10:10am
Wait for to open yours trades, the price is inside of 1 triangle.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 52 KB
Together we can be strongest
Vantage Return This Month: na
  • #74,112
  • Mar 6, 2018 10:26am Mar 6, 2018 10:26am
Quoting nealpek
Appreciate it Palpite, but I already have 4 open short positions,lol
It's ok, i posted just for us have 1 point of reference of Support/Resistance.

EDITED: The price outside of triangle, is 1 trade more safest.
Together we can be strongest
Vantage Return This Month: na
  • #74,113
  • Mar 6, 2018 10:40am Mar 6, 2018 10:40am
What's the target?
Gone to a better place
  • #74,114
  • Mar 6, 2018 10:44am Mar 6, 2018 10:44am
not really going anywhere so far today, boring
Don't Worry Be Happy
  • #74,115
  • Mar 6, 2018 10:45am Mar 6, 2018 10:45am
Depends how fast it goes down. My overall bias is down. On the higher frame, as a broader target, I like the 102 handle. Shorter term, back into the lower clump 105.50 area. If price moves south rapidly I'll hold it longer term for the lower target and continue to add along the way. All depends on what price does!
  • #74,116
  • Mar 6, 2018 10:55am Mar 6, 2018 10:55am
Thanks. I have just been looking at Swissquote research analysis. They mention 105.50 as being important. Looks like it is. In December 2013 price touched there and took over 6 months to break through, on the way up.

Hope it is not that long on the way down.
Gone to a better place
  • #74,117
  • Mar 6, 2018 10:58am Mar 6, 2018 10:58am
May have meant 105.40 ish.
Gone to a better place
  • #74,118
  • Mar 6, 2018 11:03am Mar 6, 2018 11:03am
Quoting smikester
May have meant 105.40 ish.
Couldn't care less what happened in 2013, all circumstances were different at that time. Every level is important when price moves away from it. It's on my radar because it occurred very recently. That's why It's very difficult to call targets without seeing what price does. All the action and movement is based on circumstances in 2018 which are unfolding as we go into the future. That's what I trade!
  • #74,119
  • Mar 6, 2018 11:08am Mar 6, 2018 11:08am
Quoting nealpek
{quote} Couldn't care less what happened in 2013, all circumstances were different at that time. Every level is important when price moves away from it. It's on my radar because it occurred very recently. That's why It's very difficult to call targets without seeing what price does. All the action and movement is based on circumstances in 2018 which are unfolding as we go into the future. That's what I trade!
Good for you. I'm looking to hold shorts for a few months, though. I don't like to tie up too much margin on time wasters.
Gone to a better place
  • #74,120
  • Mar 6, 2018 11:09am Mar 6, 2018 11:09am
what a fucking frustrating day this was on this pair (and others beside eu too)
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