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USD/JPY Discussion

Looks like bears prevails today, the pair is facing the immediate support at 110.40.
Quoting SunTrader
{quote} Maybe after it is underway. Nothing tells you in advance it will be range bound before it becomes.
Of course, but you will see it faster.

Some time ago, I just realized it was a range after like... 6 bounces...

Long @ 110.421
TP @ 110.600

This range has been beautiful
Attached Image
A good strategy for trading is... the opposite of having a bad strategy.
Quoting PowerTrade
{quote} Of course, but you will see it faster. Some time ago, I just realized it was a range after like... 6 bounces... Long @ 110.421 TP @ 110.600 This range has been beautiful {image}
nice performance mine also not bad, maybe next week will be possible make more % return
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I've decided to hold my short over the weekend. Keeping it simple it looks like the eur has found support v us, aud has come up v us, US looking weak. Over in the swamp theres fear mongering that institutions are controlling the rise of the EUR only to sell it and wipe out longs. Would the fundamentalists here like to give me their thoughts on how much control institutions have on the market versus countries, economies ie other influences that I would've thought would be far greater? I can understand they could have the power to wipe some SL but surely no more influence than say 50 pips, I wouldn't have thought they could influence a whole days trade. Thoughts?
Quoting PowerTrade
{quote} Of course, but you will see it faster. Some time ago, I just realized it was a range after like... 6 bounces... Long @ 110.421 TP @ 110.600 This range has been beautiful {image}
I dont place trades by pending, I'm a market order only kinda chick, but when theres what appears to be a range or a channel maybe I'll explore some pending orders with micro lots as an experiment.
Quoting hellsbells
I've decided to hold my short over the weekend. Keeping it simple it looks like the eur has found support v us, aud has come up v us, US looking weak. Over in the swamp theres fear mongering that institutions are controlling the rise of the EUR only to sell it and wipe out longs. Would the fundamentalists here like to give me their thoughts on how much control institutions have on the market versus countries, economies ie other influences that I would've thought would be far greater? I can understand they could have the power to wipe some SL but...
No guts, no glory I suppose.

I always close out before Friday 5 beer-o'clock.
Quoting Arturke
{quote} nice performance mine also not bad, maybe next week will be possible make more % return {image}
Good! every green number is good!

Quoting hellsbells
I've decided to hold my short over the weekend. Keeping it simple it looks like the eur has found support v us, aud has come up v us, US looking weak. Over in the swamp theres fear mongering that institutions are controlling the rise of the EUR only to sell it and wipe out longs. Would the fundamentalists here like to give me their thoughts on how much control institutions have on the market versus countries, economies ie other influences that I would've thought would be far greater? I can understand they could have the power to wipe some SL but...
I think I would hold my short too.

I don't know how much instutions can influence such a big market like UJ, but definetely they can move it 50 pips and it's proven before. I don't have any link to share but I've read articles with proofs a lot.



Quoting hellsbells
{quote} I dont place trades by pending, I'm a market order only kinda chick, but when theres what appears to be a range or a channel maybe I'll explore some pending orders with micro lots as an experiment.
I only do market orders, if I see the oprtunity, the confirmation signals and I'm lookin at the chart, I take it.
A good strategy for trading is... the opposite of having a bad strategy.
Two images. It seems to be repeating the retrace hitting back around 61.8 n falling, so thats why i have left my shorts running.
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  • Post #77,769
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  • Edited Aug 18, 2018 1:56am Aug 17, 2018 9:32pm | Edited Aug 18, 2018 1:56am
Quoting SunTrader
{quote} No guts, no glory I suppose. I always close out before Friday 5 beer-o'clock.
The market closes sat 7am where I am, so I woke 6am and pondered, but decided to leave it. If the market closed at 5pm friday for me I'd probably close my trade too and forget about it and have a beer. It's just not the same sat am lol. Its a new experience for me holding a trade greater than 24 hours.
Quoting PowerTrade
{quote} Good! every green number is good! {quote} I think I would hold my short too. I don't know how much instutions can influence such a big market like UJ, but definetely they can move it 50 pips and it's proven before. I don't have any link to share but I've read articles with proofs a lot. {quote} I only do market orders, if I see the oprtunity, the confirmation signals and I'm lookin at the chart, I take it.
Can you share with article where you read about institutional impact in the market ?
USD/JPY was very undecided last Friday and closed around mid 110.00s. The two largest economies in the world will meet next week to try to solve the trade war and the market players still be looking for safety.
Lower level trade reps meeting. Maybe something comes of it. I have my doubts.
Im planning to go long on this pair for medium and long term. However, no position taken yet due to no clear support area to do so. 110 area seems as a support this moment. So im still waiting a chance to buy this pair. Hopefully by next week i can spot any opportunity. Happy weekend guys!
My weekend review pic. I do have some concerns it might bounce off the TL from the daily, or the 38.2 fib. Monday I'll be looking to maybe TP at 110.000. The white box is my point of interest. If it opens and goes up then I'll look for a place to add shorts. I don't see it avoiding that white box zone, mostly with the lower daily high (not massively lower I know). Since it's rejected 23.6 on upswing, is it def heading to 38.2? Is there a bit of a rough old hns on the daily with the 23.6 being the shoulders??
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H4 support/resistance levels:-
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The pair has found immediate support level at 110.10, break below would trigger a further decline. Focus turns to China-US meeting in Washington next week.
added to my short. I have no idea when I drew that white TL but it appears to be significant today
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Tightened my SL to BE, hammer on 5min, moved resistance line to 110.480
Got stopped out on my daily sell, nice profit though
usd/jpy 2018 average pips per day, hopes so that will be useful
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