Attachments: USD/JPY Discussion

USD/JPY Discussion

#76,301
May 7, 2018 1:01am May 7, 2018 1:01am

arasheed
| Joined Oct 2010 | Status: Trader | 678 Posts

Quoting Jairote

Disliked

{quote} The price broke down the TL and now it is re-testing the TL. The last week bar is a pin bar so all of this show me a bearish market. MrPresident: It looks to me that USDJPY goes down.

Ignored

H Jairote
Good for posting screen shot,but you should have given this explanation along , Better it would have been.

#76,302
May 7, 2018 1:13am May 7, 2018 1:13am

4xjunkie
Joined Dec 2008 | Status: Home School Map Maker | 1,192 Posts

Quoting catroot

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{quote} +1 for retest the low, probably a refresh the low. For me, 108.3 must get bought again, but ok for just retest LL. PS from the fresh top, which will form a divergence on h4, i will take short to the weekly support @106.6... then will see... 104.7 and 103.3 can take place.

Ignored

i think a retest for sure, maybe something lower. looking for a double bottom with the retest a few pips lower. something tells me this one wont hold, with a this high of a bounce maybe 108.30

#76,303
May 7, 2018 6:37am May 7, 2018 6:37am

MrPresident
Joined Apr 2017 | Status: trying to make money | 3,341 Posts

bullish or bearish today? i am confused today

Don't Worry Be Happy

#76,304
May 7, 2018 6:40am May 7, 2018 6:40am

Yvonnely
| Additional Username | Joined Mar 2018 | 112 Posts

Quoting MrPresident

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bullish or bearish today? i am confused today

Ignored

If you don't know, who would?

#76,305
May 7, 2018 6:46am May 7, 2018 6:46am

Luzbay
| Joined Mar 2015 | Status: Trader | 700 Posts

I would say bullish until 109.50, at which point I'd assess whether price formed the potential right shoulder of a head and shoulder pattern on H4.

If it pushes through 109.50, I think we get to 109.75-ish. At that point, I think price shoots for c111.00, or falls to 108.00.

I've not got an open position on this pair at the moment and I don't see value in taking one at the current price (109.34 at time of writing).

My thoughts.

#76,306
May 7, 2018 6:52am May 7, 2018 6:52am

MrPresident
Joined Apr 2017 | Status: trying to make money | 3,341 Posts

Quoting Luzbay

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I would say bullish until 109.50, at which point I'd assess whether price formed the potential right shoulder of a head and shoulder pattern on H4. If it pushes through 109.50, I think we get to 109.75-ish. At that point, I think price shoots for c111.00, or falls to 108.00. I've not got an open position on this pair at the moment and I don't see value in taking one at the current price (109.34 at time of writing). My thoughts.

Ignored

yes, i agree that 109.5 is the level to watch for bullish/bearish bias

it so far has been confusing today

Don't Worry Be Happy

#76,307
May 7, 2018 7:05am May 7, 2018 7:05am

Luzbay
| Joined Mar 2015 | Status: Trader | 700 Posts

Quoting MrPresident

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{quote} yes, i agree that 109.5 is the level to watch for bullish/bearish bias it so far has been confusing today

Ignored

The only realistic entry for me today would have been at 4am, my time, which is entirely unrealistic - so I'll sit out until something else turns up!

#76,308
May 7, 2018 7:48am May 7, 2018 7:48am

unlv_tj
Joined Oct 2007 | Status: Trader | 1,381 Posts

I thought price might get higher to the higher gray box, but look at price react perfectly to this 30M/15M supply zone.

Attached Image (click to enlarge)

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Name: USDJPYM15.png
Size: 43 KB

#76,309
May 7, 2018 7:49am May 7, 2018 7:49am

COGSx86
Joined Dec 2013 | Status: Trader | 1,942 Posts

Quoting jagdpanther

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{quote} ah ok now i get it. Shame - I would have felt more confident if you had said "Yea this thing is 100% going down to 100.000 today" but alas I have some doubt in my mind against the short I opened

Ignored

100%, nothin in this market is.

Learn, a forex trader must, unlearn and relearn he will.

#76,310
May 7, 2018 7:54am May 7, 2018 7:54am

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

IMO price probably will go back at least to 110, if not 111-ish - soon enough.

#76,311
May 7, 2018 8:37am May 7, 2018 8:37am

COGSx86
Joined Dec 2013 | Status: Trader | 1,942 Posts

Quoting unlv_tj

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I thought price might get higher to the higher gray box, but look at price react perfectly to this 30M/15M supply zone. {image}

Ignored

And then the 4 hour price pattern

Attached Image (click to enlarge)

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Name: USDJPY99.jpg
Size: 144 KB

Learn, a forex trader must, unlearn and relearn he will.

#76,312
May 7, 2018 8:42am May 7, 2018 8:42am

unlv_tj
Joined Oct 2007 | Status: Trader | 1,381 Posts

Quoting COGSx86

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{quote} And then the 4 hour price pattern {image}

Ignored

Bouncing beautifully off the ignored supply turned demand.

Attached Image (click to enlarge)

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#76,313
May 7, 2018 11:36am May 7, 2018 11:36am

Jairote
| Joined Apr 2016 | Status: Trader | 40 Posts

Hello,

In TF 4H, there is in construction a H&S formation. If this construction ends fine, we could go short.

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#76,314
May 7, 2018 1:02pm May 7, 2018 1:02pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting SunTrader

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IMO price probably will go back at least to 110, if not 111-ish - soon enough.

Ignored

On second thought I rechecked my wave count and now believe we will drop to 108.45-108.58 or 108.180-117.94 zones between overnight/tomorrow mid day before resuming uptrend to 110 or so.

#76,315
May 7, 2018 1:38pm May 7, 2018 1:38pm

Neil0163
Joined Jul 2017 | Status: Active member | 1,655 Posts

I did this supply and demand video funny enough in UJ

Https://youtu.be/r8gDiNsoN_c

Here’s a chart of what I’m looking at

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#76,316
May 7, 2018 4:13pm May 7, 2018 4:13pm

COGSx86
Joined Dec 2013 | Status: Trader | 1,942 Posts

Something I came across with regards to HTF's

Attached Image (click to enlarge)

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Name: USDJPY14.png
Size: 362 KB

Learn, a forex trader must, unlearn and relearn he will.

#76,317
May 7, 2018 4:40pm May 7, 2018 4:40pm

Sossos
Joined Apr 2013 | Status: Trader | 684 Posts

Quoting SunTrader

Disliked

{quote} On second thought I rechecked my wave count and now believe we will drop to 108.45-108.58 or 108.180-117.94 zones between overnight/tomorrow mid day before resuming uptrend to 110 or so.

Ignored

The wave down from Wed. looked impulsive to me. Followed by an ABC which ended today. Now price is building wave 1 of 3, the key is the pullback. It shouldn't go beyond 109.30 or I have it wrong.

Attached Image (click to enlarge)