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USD/JPY Discussion

  • #75,081
  • Mar 29, 2018 1:41am Mar 29, 2018 1:41am
largest up day in over a year yesterday, got us to unchanged on the month.....keeping an eye on 107.10ish, close above there might open up some more upside...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #75,082
  • Mar 29, 2018 5:15am Mar 29, 2018 5:15am
Quoting 4xjunkie
{image}
Together with you

Sell - 106.62

.
Together we can be strongest
Vantage Return This Month: na
  • #75,083
  • Mar 29, 2018 6:09am Mar 29, 2018 6:09am
Looking for a place to enter a Metium term Long tp 113.45 looking at 105,91 lever to enter
  • #75,084
  • Mar 29, 2018 6:13am Mar 29, 2018 6:13am
Quoting palpite
{quote} Together with you Sell - 106.62 .
Closed the trades.
Together we can be strongest
Vantage Return This Month: na
  • #75,085
  • Edited 6:52am Mar 29, 2018 6:25am | Edited 6:52am
Quoting palpite
{quote} Closed the trades.
EDITED : Sell again - 106.54

Closed the trades.
Together we can be strongest
Vantage Return This Month: na
  • #75,086
  • Mar 29, 2018 6:59am Mar 29, 2018 6:59am
bought dip at 106.4, looking for a move to 107 and then 108

sold EU too
Don't Worry Be Happy
  • #75,087
  • Mar 29, 2018 7:07am Mar 29, 2018 7:07am
Quoting 4xjunkie
{image}
you could draw another pink line pointing up and take it as source of truth
Your friendly neighbourhood Sith
  • #75,088
  • Mar 29, 2018 8:00am Mar 29, 2018 8:00am
would be funny if it went all the way to 111 in a few weeks

so far, the market has been paranoid about inflation, trade wars, and the pair retraced lower on rumors but the big boys bought the facts at the bottom of the range and they are not ready to let go of their position

latest COT chart shows that speculators and commercials reversed their positions on these rumors and I bet that the next chart will show a bigger divergence
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Don't Worry Be Happy
  • #75,089
  • Mar 29, 2018 8:43am Mar 29, 2018 8:43am
I appear to be the only one with a down bias. Kind of like it that way!!!
  • #75,090
  • Mar 29, 2018 8:48am Mar 29, 2018 8:48am
Quoting nealpek
I appear to be the only one with a down bias. Kind of like it that way!!!
Short term trading looks like a breakout down south is setting up. Previous low being tested.
  • #75,091
  • Mar 29, 2018 8:50am Mar 29, 2018 8:50am
Strange question so please don't laugh. As tomorrow is thanksgiving, are the other forex markets still open as well?
  • #75,092
  • Mar 29, 2018 8:51am Mar 29, 2018 8:51am
Quoting unlv_tj
{quote} Short term trading looks like a breakout down south is setting up. Previous low being tested.
Damn missed it. Should have been aggressive and taken the breakout and not waited on the retrace.
  • #75,093
  • Mar 29, 2018 8:55am Mar 29, 2018 8:55am
Quoting unlv_tj
{quote} Damn missed it. Should have been aggressive and taken the breakout and not waited on the retrace.
I never sweat the entries if I missed the perfect one. If my conviction is solid, I just jump in anyway. If the train is going south and the trend is south, doesn't really matter where I get in, as long as I catch the train!
  • #75,094
  • Mar 29, 2018 9:02am Mar 29, 2018 9:02am
Quoting nealpek
{quote} I never sweat the entries if I missed the perfect one. If my conviction is solid, I just jump in anyway. If the train is going south and the trend is south, doesn't really matter where I get in, as long as I catch the train!
I have always felt this would be better. But if you don't have a specific entry, how do you determine a stop loss? Do you just do a generic stop loss that is some where close to 1:1 of your profit?
  • #75,095
  • Mar 29, 2018 9:13am Mar 29, 2018 9:13am
UNLV, depends on your time horizon. As I've changed my style from long term and rotational plays to more long term, I have to look at the higher time frames for reference points, but I still use the hourly mostly and sometimes the 4 hr for my structure and stop placement. As I build positions over time, I absorbed yesterday's draw down and added to my position above 106.75 because as I posted in yesterdays chart, I expect these full sweep cleanings before price resumes south. I see it in every market all the time, so I was comfortable holding my positions. Stop loss simply goes to the structure to the left of the cleaning where price couldn't go.
I'm just playing the probability that price will continue in the direction it's been headed for the last couple of months. At some point, price will turn around and head north, but trend changes don't occur that frequently, so probability says continue!
  • #75,096
  • Mar 29, 2018 9:13am Mar 29, 2018 9:13am
Quoting unlv_tj
{quote} I have always felt this would be better. But if you don't have a specific entry, how do you determine a stop loss? Do you just do a generic stop loss that is some where close to 1:1 of your profit?
You can do a 1:1, you can do random ones, but ideally you should open a trade In supply/demand areas around critical numbers and set up a stop loss bellow/above it in case it breaks through and then let it roll to your tp.. this works for short term/long term trades its just a matter of understanding the good supports/resistences. There was a thread a while back ( i think a year ago or something) by a guy nickname Dave? he had very nice support/resistence analisis you should check that out in the forums might help you out
  • #75,097
  • Mar 29, 2018 9:18am Mar 29, 2018 9:18am
So, am I able to trade tomorrow, or is it a 3 day weekend?
  • #75,098
  • Mar 29, 2018 9:18am Mar 29, 2018 9:18am
Quoting nealpek
UNLV, depends on your time horizon. As I've changed my style from long term and rotational plays to more long term, I have to look at the higher time frames for reference points, but I still use the hourly mostly and sometimes the 4 hr for my structure and stop placement. As I build positions over time, I absorbed yesterday's draw down and added to my position above 106.75 because as I posted in yesterdays chart, I expect these full sweep cleanings before price resumes south. I see it in every market all the time, so I was comfortable holding my...
I appreciate it. I felt I had a great handle on supply and demand and price action, but you have certainly opened my mind to new ways in which the market works and more reason as to why false breaks are so powerful.
  • #75,099
  • Mar 29, 2018 9:19am Mar 29, 2018 9:19am
Quoting nealpek
So, am I able to trade tomorrow, or is it a 3 day weekend?
I think the only major markets open are JPY and USD. I will watch the charts, but I have other things scheduled tomorrow morning due to it probably being a crap day.
  • #75,100
  • Mar 29, 2018 9:21am Mar 29, 2018 9:21am
Quoting Windstrown
{quote} You can do a 1:1, you can do random ones, but ideally you should open a trade In supply/demand areas around critical numbers and set up a stop loss bellow/above it in case it breaks through and then let it roll to your tp.. this works for short term/long term trades its just a matter of understanding the good supports/resistences. There was a thread a while back ( i think a year ago or something) by a guy nickname Dave? he had very nice support/resistence analisis you should check that out in the forums might help you out
I have a pretty good understanding of supply and demand, been studying it and learning it for a few years. But I am always willing to learn more. If you find this thread, and it might be on you are subscribed to, let me know and I will love to take a look.

Thank you!
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