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USD/JPY Discussion

  • #77,561
  • Aug 1, 2018 4:19pm Aug 1, 2018 4:19pm
Break & rejection on H4

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  • #77,562
  • Aug 1, 2018 7:43pm Aug 1, 2018 7:43pm
My view for U/J is long.. I got a buy limit order..
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Meditate -> Workout -> Good Food = Good Life!
  • #77,563
  • Aug 1, 2018 8:43pm Aug 1, 2018 8:43pm
Quoting YellowFellow
My view for U/J is long.. I got a buy limit order.. {image}
Cancelled!
Meditate -> Workout -> Good Food = Good Life!
  • #77,564
  • Aug 2, 2018 5:22am Aug 2, 2018 5:22am
Sitting on my shorts.
good rejection from 61.8 fib
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  • #77,565
  • Aug 2, 2018 5:35am Aug 2, 2018 5:35am
Quoting FKhan
Sitting on my shorts. good rejection from 61.8 fib {image}

spray and pray!

what will you do if the DXY continues higher?

taking small losses can be painful, but if you dont learn to deal with your pain, you'll end up getting destroyed in time

this screenshot is from yesterday, today DXY has broken above the wedge resistance level, major resistance is at around 9650

DXY Daily
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theres more to this game than luck!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #77,566
  • Aug 2, 2018 5:42am Aug 2, 2018 5:42am
Quoting theDHT
{quote} spray and pray! what will you do if the DXY continues higher? taking small losses can be painful, but if you dont learn to deal with your pain, you'll end up getting destroyed in time this screenshot is from yesterday, today DXY has broken above the wedge resistance level, major resistance is at around 9650 DXY Daily {image} theres more to this game than luck!
dollar getting stronger against all, except for JPY, sold off together and risk = JPY > USD, I have a retrace in order.

of course not guaranteed, I may have closed my short yesterday too early though.
  • #77,567
  • Aug 2, 2018 5:48am Aug 2, 2018 5:48am
Quoting Don96
{quote} dollar getting stronger against all, except for JPY, sold off together and risk = JPY > USD, I have a retrace in order. of course not guaranteed, I may have closed my short yesterday too early though.
Yen Futures Daily:
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Its broken down through key support

UJ Daily:
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Its broken up through key resistance

I took a short yesterday at 112, but closed it after 50 pips, theres a risk that she bounces hard at the demand line ~11120
90% of people, are wrong about 90% of everything, 90% of the time...
  • #77,568
  • Aug 2, 2018 7:23am Aug 2, 2018 7:23am
.
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  • #77,569
  • Aug 2, 2018 7:45am Aug 2, 2018 7:45am
Quoting theDHT
{quote} spray and pray! what will you do if the DXY continues higher? taking small losses can be painful, but if you dont learn to deal with your pain, you'll end up getting destroyed in time this screenshot is from yesterday, today DXY has broken above the wedge resistance level, major resistance is at around 9650 DXY Daily {image} theres more to this game than luck!
fine lets wait and see where this heads to..
  • #77,570
  • Aug 2, 2018 8:04am Aug 2, 2018 8:04am
Good time to buy it is, if your not already in!

Fight the trend, a trader should not.

On the 4 hour we see a number of confirming aspects.

1) Price bouncing off the HTF trend line set back in march
2) Price bouncing off the trend line started from last weeks low
3) Tuesdays break created the W-formation and a supply zone which got broke, this zone is now turning to a demand zone

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Daily
1) Price broke the weekly wedge, 2 weeks ago. Now we see price retouching this line, and a bounce is forming
2) Again price broke the supply zone, and we are looking at the daily retouch


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Weekly

Wedge formed, will see breakout (below), fakeout (above)

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Learn, a forex trader must, unlearn and relearn he will.
  • #77,571
  • Aug 2, 2018 8:17am Aug 2, 2018 8:17am
Quoting COGSx86
Good time to buy it is, if your not already in! Fight the trend, a trader should not. On the 4 hour we see a number of confirming aspects. 1) Price bouncing off the HTF trend line set back in march 2) Price bouncing off the trend line started from last weeks low 3) Tuesdays break created the W-formation and a supply zone which got broke, this zone is now turning to a demand zone {image} Daily 1) Price broke the weekly wedge, 2 weeks ago. Now we see price retouching this line, and a bounce is forming 2) Again price broke the supply zone, and we are...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #77,572
  • Aug 2, 2018 8:20am Aug 2, 2018 8:20am
Hello guys,

Here is my UJ analysis. The idea is to wait for the price to come to the trendline and wait if its gonna respect it or break it.

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Have a good one.
  • #77,573
  • Aug 2, 2018 8:20am Aug 2, 2018 8:20am
Quoting FKhan
{quote} fine lets wait and see where this heads to..
i was not trying to be disrespectful, just sharing lessons learnt from the skool of hard knocks

just sayin... as a trader whos had my ass kicked enough times... you MUST have a level at which you just admit that you got it wrong, and cut the loss no matter how badly it hurts... you can recover the money, as long as you have a portfolio to play with!

it'll make you a better trader

anyone whos been here long enough will agree with me on this
90% of people, are wrong about 90% of everything, 90% of the time...
  • #77,574
  • Aug 2, 2018 8:41am Aug 2, 2018 8:41am
All I ever know is don't fight the trend - and IMO it is down on time frames below Daily.

Daily looks to be neutral at the moment but only if it stays above 111.
  • #77,575
  • Aug 2, 2018 9:14am Aug 2, 2018 9:14am
Quoting theDHT
{quote} i was not trying to be disrespectful, just sharing lessons learnt from the skool of hard knocks just sayin... as a trader whos had my ass kicked enough times... you MUST have a level at which you just admit that you got it wrong, and cut the loss no matter how badly it hurts... you can recover the money, as long as you have a portfolio to play with! it'll make you a better trader anyone whos been here long enough will agree with me on this
no offense taken buddy. Ur right with what you’re saying.
  • #77,576
  • Aug 2, 2018 10:53am Aug 2, 2018 10:53am
It looks like we may have another one.
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  • #77,577
  • Edited 6:52pm Aug 2, 2018 6:39pm | Edited 6:52pm
well the bulls are first out of the gate this am, but as we all know, that means nothing. I did not expect 6 bear hours, then 6 bull hours. Fortunately I came out on top as a TP on 1 trade was greater than the SL on the other. That's forex. I'm really hoping I can lock in some trades at BE and have a day off as I have not traded well this week. 111.713 is next resistance and by 50 SMA on hour chart. I'm TP one trade there, hoping the others will survive and it will push up
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  • #77,578
  • Aug 2, 2018 6:54pm Aug 2, 2018 6:54pm
Be aware of NFP in 12 hours.
  • #77,579
  • Aug 2, 2018 7:08pm Aug 2, 2018 7:08pm
H1 EW count (which means minor waves 3, 4 and 5 to come to complete higher Wave 5):-
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  • #77,580
  • Aug 2, 2018 7:41pm Aug 2, 2018 7:41pm
Took Profit 1 at 112.520, Took Profit 2 at 112.672, leaving last 2 trades tight SL hoping bullish bias. The blue line at 50SMA 1 hr, hoping it can find some support above there
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