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USD/JPY Discussion

  • #78,381
  • Oct 2, 2018 2:43pm Oct 2, 2018 2:43pm
Quoting barloc
Price will go down at either of those 2 zones.... maybe {image}

2 trade targets -I am out when the first one is hit, if price retraces north then more trades will added and tp will be reassessed.



notice me senpai notice me.
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Dragon Rider
  • #78,382
  • Oct 2, 2018 3:54pm Oct 2, 2018 3:54pm
Quoting barloc
{quote} 2 trade targets -I am out when the first one is hit, if price retraces north then more trades will added and tp will be reassessed. notice me senpai notice me. {image}
great position and target is very possible
  • #78,383
  • Oct 2, 2018 6:53pm Oct 2, 2018 6:53pm
watching CADJPY price now 88.60 I see that its preparing for a big move down with SL at 91 and targets 86.50 to 83

I wonder who will drive this down is it only USDCAD going up or USDJPY will help in dumbing it down

lets see tomorrow
  • #78,384
  • Oct 2, 2018 11:21pm Oct 2, 2018 11:21pm
I'm having an awful trading day today, made lots of errors including late sell of UJ at 113.555, then waiting the full 5min candle (and it was a big one) to confirm yes I was screwed. Am definitely back to thinking TA is a fraud and all one has is money management, especially when the world decides to re distribute wealth in 60 min. Anyway, the UJ has bearish engulfing hour candle , and is below one of my many TL, but above another (support on the diagonal). I have tightened SL as much as I really want to but still risking total nearly $300 on the 3 2lot trades which does not sit well with me. Anyway I guess mayhem will start in 45min or so and I just thought I'd share my busy picture.
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  • #78,385
  • Oct 2, 2018 11:54pm Oct 2, 2018 11:54pm
My TL were a bit wrong. Now I have MORE! I closed one trade at 113.658, now risking$80 which is reasonable. It's cornered with 5 min left in the hour.
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  • #78,386
  • Oct 3, 2018 12:10am Oct 3, 2018 12:10am
retracement is over. ready to get back to the trend
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Profit growth tells you the trader ability.
  • #78,387
  • Oct 3, 2018 12:20am Oct 3, 2018 12:20am
closed my trades, done for the day
  • #78,388
  • Oct 3, 2018 12:48am Oct 3, 2018 12:48am
Quoting msniper
{quote} I agree this correction can go as deep as 112.10 to 112.80 but if its impulsive then we will crash those numbers and head to the below 110 only time will tell

Conflicting signals I'm getting, I'm going to wait at least a day to see if things clear up. I did notice that last few weeks, market generally rallies after ever down day....
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Look Sharp/Trade Tight
  • #78,389
  • Oct 3, 2018 2:39am Oct 3, 2018 2:39am
good short between 114.59/114,90 to hold till 112
POSTMASTER
  • #78,390
  • Oct 3, 2018 3:25am Oct 3, 2018 3:25am
UJ will drop to 113.20 area and below

the question is it gonna fall without making new high ?

if it will make a new high then I expect maximum the high will be 114.20 then again fall

top was 114.07 and low is 113.50 means if UJ fall and break 113.50 it will target 50 pips below 113.50 which means target is 113 to 112.95
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  • #78,391
  • Oct 3, 2018 3:35am Oct 3, 2018 3:35am
With yesterday not making any new weekly high, outlook is bearish. Targeting low of 112.871
  • #78,392
  • Oct 3, 2018 4:41am Oct 3, 2018 4:41am
Quoting msniper
UJ will drop to 113.20 area and below the question is it gonna fall without making new high ? if it will make a new high then I expect maximum the high will be 114.20 then again fall top was 114.07 and low is 113.50 means if UJ fall and break 113.50 it will target 50 pips below 113.50 which means target is 113 to 112.95 {image}

ur target is reasonable 113.00
price stoped at 114 on monday
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MY OPINION NOT FINANCIAL ADVISE
  • #78,393
  • Oct 3, 2018 4:57am Oct 3, 2018 4:57am
Quoting donfriday
{quote} ur target is reasonable 113.00 price stoped at 114 on monday {image}
it can go further down as u mentioned in your chart. but I would be happy to close at 113 area and find me another pair with more clear path
  • #78,394
  • Oct 3, 2018 5:01am Oct 3, 2018 5:01am
as long we don't make a new high in UJ this is the possible scenario is to shape a cup and handle or head & shoulder
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  • #78,395
  • Oct 3, 2018 5:24am Oct 3, 2018 5:24am
1h candle to close below 113.65 will confirm bearish power in short term again
  • #78,396
  • Oct 3, 2018 6:25am Oct 3, 2018 6:25am
Quoting msniper
1h candle to close below 113.65 will confirm bearish power in short term again

.85?
Learn, a forex trader must, unlearn and relearn he will.
  • #78,397
  • Oct 3, 2018 6:41am Oct 3, 2018 6:41am
Quoting COGSx86
{quote} .85?
I didn't get you ?
  • #78,398
  • Oct 3, 2018 6:50am Oct 3, 2018 6:50am
Quoting msniper
{quote} I didn't get you ?

For that hour did you mean 113.85, not 113.65?
Learn, a forex trader must, unlearn and relearn he will.
  • #78,399
  • Oct 3, 2018 6:57am Oct 3, 2018 6:57am
Quoting COGSx86
{quote} For that hour did you mean 113.85, not 113.65?

I mean 113.65 if we close 1h candle below it. it would gain more sell pressure

at the moment the support of the 4h up trend that we were having for more than 2 weeks is around 113.20 which is equal to the strong resistance we had before at 113.17

lets see how it goes with news action
  • #78,400
  • Oct 3, 2018 7:04am Oct 3, 2018 7:04am
Quoting msniper
{quote} I mean 113.65 if we close 1h candle below it. it would gain more sell pressure at the moment the support of the 4h up trend that we were having for more than 2 weeks is around 113.20 which is equal to the strong resistance we had before at 113.17 lets see how it goes with news action

Makes sense, thanks for clarifying.
Learn, a forex trader must, unlearn and relearn he will.
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