USD/JPY Discussion

selling 108.215 from here its seems there is a resistance

got a sell limit at 108.50, its getting close.

i think it will go to 109 and then 110

There is no retest of the lows yet.
ive got eu from 1.220x to 1.2500 that brings uj down to 104.90 ish

yea but before someone need to fill that gap

signal:
they have needed for first arrow one week. so, good trade for one week. (i trade on futures JPY USD)

got kick out SL 108.447

short at .57 We'll see!

what is your target?

Short term at 107.90 area, but I still believe there is a whole lot of sweeping to do further south. That's my play and I'll take some off and add as we go along if and when it heads south!

It s over 108.5 i think will touch 109 before having a pullback...do you agree?

I was thinking you might wait for it to get up to 108.80 or 108.90.

depends on what price does. It can literally do anything. I'm simply playing what i understand to be high probability moves. However high probability doesn't mean certainty. But over time, always taking the high prob trades will grow your account over time, and will make up for those times the market didn't perform as expected. I hit a high probability pocket between 108.73 and 108.57. Again there is no certainty to any trade, but with the extension of price already, the elastic band is stretching... The measured risk is taking a high prob trade and getting in at a good price as opposed to waiting for confirmation and a shittier fill. When a trade presents itself, I have to take it because I don't know if it will be the "one".

i'm holding on to my long position, moved my target up to 109 and then 110 if possible

A very valid move....

Trading isn't hard, in fact it's quite easy. After years of trading, the hardest part to master in my opinion was the argument between what I "see" and what I "think". I've come to realize that what I think is totally irrelevant. When I was able to separate these 2 actions, my trading became more mechanical and the arguments were kept to a minimum. I know what I'm looking for, so I don't need to think about if it will work. I know the market won't allow me to be right every time, but more times than not, my trade location is correct, and my profit on these correct moves is more than my losses on the incorrect ones. It's just simple math. If I don't take the trade I believe to be high probability, I'm going against my own trading method that I know is profitable. So logic dictates to carry on as I've done previously. When a trade doesn't go my way, no biggie, as I know and expect this to happen. I'll simply make it up somewhere else as long as I am consistent in my method!

UJ is certainly in an area I would be interested to get short. I am just waiting for some kind of price action to tell me sellers have come in and taken over. Strong selling over a bar or a few, take out a previous low, or a large bearish outside bar. Watching 15M and 5M to see if anything sets up.

That's a valid method to enter a trade. I haven't seen overwhelming evidence of price action that confirms my trade. I am simply looking to the left, and my eye sees an area that interests me. If it works out, price action, outside bar, or heavy selling will follow of course. I'm simply taking the chance to get in early at a better price, then using price action to further confirm what my eye sees to the left.
Just another way of approaching the markets......

What time frame do you look at the most?

Sell


Entry 108.692
Tp 108.310
Sl: 12pips