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USD/JPY Discussion

  • #75,001
  • Mar 27, 2018 9:28am Mar 27, 2018 9:28am
Quoting COGSx86
The 1 hour chart seems to show the continuation of the HTF trend with the rejection and with the 3-month treasuries back to 1.8, I think the Banks (bears) are back. Things to look at: Price being rejected at the 61.8 Level The 61.8 level is also a previous Demand zone which was broken last week, a retest which has been rejected A Large Doji, The last confirming piece is the lower side trend but that doesnt stop me from entering my shorts. {image}
i'm buying the dips from support levels
Don't Worry Be Happy
  • #75,002
  • Mar 27, 2018 9:30am Mar 27, 2018 9:30am
Excellent COGSx86. I had demand turned supply right there, and saw the Doji, but I didn't have enough faith in my demand/supply zone and if I had a Fib retrace on my chart I would have had the confluence. UGH!
  • #75,003
  • Mar 27, 2018 11:43am Mar 27, 2018 11:43am
To up, so i bought - 105.65. Good luck .
Together we can be strongest
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  • #75,004
  • Mar 27, 2018 12:20pm Mar 27, 2018 12:20pm
divergence develops nicely. h1
.I'll open a short one.
hope not too early.
  • #75,005
  • Mar 27, 2018 2:32pm Mar 27, 2018 2:32pm
Quoting unlv_tj
Excellent COGSx86. I had demand turned supply right there, and saw the Doji, but I didn't have enough faith in my demand/supply zone and if I had a Fib retrace on my chart I would have had the confluence. UGH!
I always place the fibos when the market has made its high and low, to help. Trading takes many aspects to consider.

Trends
Supply and Demand
Fibos
Candle patterns
charts patterns
Multi time frame anaylsis

And the single most important aspect is the 3-month US Treasury's, the leading factor for banks and the FED.


Learn every day, we are!
Learn, a forex trader must, unlearn and relearn he will.
  • #75,006
  • Mar 27, 2018 2:33pm Mar 27, 2018 2:33pm
Quoting MrPresident
{quote} i'm buying the dips from support levels
Some buddy has to be buying, what Im selling.
Learn, a forex trader must, unlearn and relearn he will.
  • #75,007
  • Mar 27, 2018 3:00pm Mar 27, 2018 3:00pm
USD/JPY is consolidating around 150.65. Immediate resistance is seen at 105.80, while the downside is supported by 105.55.
  • #75,008
  • Mar 27, 2018 3:26pm Mar 27, 2018 3:26pm
what is your take, buy or sell?
  • #75,009
  • Mar 27, 2018 3:29pm Mar 27, 2018 3:29pm
I bought the bottom today since I believe that the selling is over exaggerated

The market is paranoid and this creates opportunities to buy the dip
Don't Worry Be Happy
  • #75,010
  • Mar 27, 2018 3:29pm Mar 27, 2018 3:29pm
DOW (Trade Wars) is also leading the way lately.
  • #75,011
  • Mar 27, 2018 3:30pm Mar 27, 2018 3:30pm
Short short short! Trends don't change so rapidly, probability always favors continuation. Gotta go with the odds. Been there done that with trying to pick a top or bottom of a trend. Just go with what you see, and don't let your mind play tricks on you!!
  • #75,012
  • Mar 27, 2018 3:39pm Mar 27, 2018 3:39pm
Quoting nealpek
Short short short! Trends don't change so rapidly, probability always favors continuation. Gotta go with the odds. Been there done that with trying to pick a top or bottom of a trend. Just go with what you see, and don't let your mind play tricks on you!!
I only see that the market didn’t close below the previous daily low and the trend did not change to bearish

it is risky to sell right now since major support has not been broken yet
Don't Worry Be Happy
  • #75,013
  • Mar 27, 2018 3:51pm Mar 27, 2018 3:51pm
Quoting MrPresident
{quote} I only see that the market didn’t close below the previous daily low and the trend did not change to bearish it is risky to sell right now since major support has not been broken yet
Today's daily bar is a pinbar. Not looking good to go long but there are three choices, not two, in trading.
  • #75,014
  • Edited 4:18pm Mar 27, 2018 4:02pm | Edited 4:18pm
Quoting SunTrader
{quote} Today's daily bar is a pinbar. Not looking good to go long but there are three choices, not two, in trading.
It’s an inverted hammer actually and not a pin bar

Hammering the shorts sounds better and painful lol

sellers got hammered for chasing the bearish trend last week near 104.6 when the market reversed up to clean them out
Don't Worry Be Happy
  • #75,015
  • Mar 27, 2018 4:21pm Mar 27, 2018 4:21pm
I called the move 4 days before it happened. It was supposed to happen and completely expected, from my point of view. It's the way the market flows....
  • #75,016
  • Mar 27, 2018 4:37pm Mar 27, 2018 4:37pm
Looks like a trap for bears

Winnie the Pooh found a bee hive, but the bees are angry and they can attack lol
Don't Worry Be Happy
  • #75,017
  • Mar 27, 2018 4:42pm Mar 27, 2018 4:42pm
Quoting MrPresident
{quote} I only see that the market didn’t close below the previous daily low and the trend did not change to bearish it is risky to sell right now since major support has not been broken yet
It's really wrong to jump in now; small correction- there had been weekly strong support breakout.
Make all mistakes in demo and rain in pips in live account
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  • #75,018
  • Mar 27, 2018 4:52pm Mar 27, 2018 4:52pm
Quoting 9jatrader
{quote} It's really wrong to jump in now; small correction- there had been weekly strong support breakout.
Yep

Inserted Video
Don't Worry Be Happy
  • #75,019
  • Mar 27, 2018 5:02pm Mar 27, 2018 5:02pm
Quoting MrPresident
{quote} Yep https://youtu.be/YJ42pMtmrlE
Maybe bees better replace bulls for better attack on bears
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #75,020
  • Mar 27, 2018 6:22pm Mar 27, 2018 6:22pm
Quoting MrPresident
{quote} It’s an inverted hammer actually and not a pin bar Hammering the shorts sounds better and painful lol sellers got hammered for chasing the bearish trend last week near 104.6 when the market reversed up to clean them out
In candlestick talk yes, in pattern talk it is pinbar. It sure don't look bullish no matter whatever name is used.
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