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USD/JPY Discussion

  • #78,861
  • Nov 1, 2018 9:19am Nov 1, 2018 9:19am
Quoting msniper
{quote} that's very small target the top at 113.3x was end of WAVE2 and now we will start WAVE3 which is stronger and more deep
But i don't know if will cross the trendline yet. I'll close my trade when the candle H4 close.

EDITED : For while it's 1 pullback bullish.

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Vantage Return This Month: -97.0%
  • #78,862
  • Edited 9:46am Nov 1, 2018 9:29am | Edited 9:46am
Quoting msniper
{quote} that's very small target the top at 113.3x was end of WAVE2 and now we will start WAVE3 which is stronger and more deep
I predicted EU above 1.15 in the end of month, but i think will stop in 1.146. I think not have time for to go more high. Will be for few.

EDITED: OMG, today is 01/11/2018, closed the candle month yesterday.

.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,863
  • Nov 1, 2018 10:45am Nov 1, 2018 10:45am
Quoting warrensapp
{quote} It broke through my Downtrend line, but I still see this trickling down to the 112.676 line before possibly turning around. {image}
Be cautious everyone. I've been eye balling 112.67ish as the support since yesterday, but that doesn't mean I will be right. If I see another break downwards with 2 or 3 confirmed lower highs, then I think the smart move is to take a sell position until we see an actual turnaround. If it goes up from where it is at from right now, I am staying neutral until I can establish it will go as high as its old resistance or if there will be a new resistance (i'm guessing around 113)
Attached Image (click to enlarge)
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If you're gonna be a bear, be a grizzly
  • #78,864
  • Nov 1, 2018 12:25pm Nov 1, 2018 12:25pm
Quoting palpite
. Sell - 112.90 SL - 113.00 .

Trade closed in 112.60.

.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,865
  • Nov 1, 2018 1:11pm Nov 1, 2018 1:11pm
Now the market will show the direction for us.

- If the price touch 113 or above, we wait for to buy.

- If the price touch 112 or below, we wait for to sell.

Maybe tomorrow or next week, we have this point for to buy or sell.
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Good luck traders.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,866
  • Nov 1, 2018 1:33pm Nov 1, 2018 1:33pm
Quoting palpite
Now the market will show the direction for us. - If the price touch 113 or above, we wait for to buy. - If the price touch 112 or below, we wait for to sell. Maybe tomorrow or next week, we have this point for to buy or sell. . Good luck traders.
I am bearish. I haven't taken a position yet, but my gut feeling tells me this price wants to go down for a bit before it comes back to 113 or higher.

Still waiting to see what happens though.
Attached Image (click to enlarge)
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If you're gonna be a bear, be a grizzly
  • #78,867
  • Nov 1, 2018 1:44pm Nov 1, 2018 1:44pm
Quoting msniper
{quote} Elliot waves analysis read about it {image} {image}
I'm actually reading about this now. Something to do besides staring at the ticker lol.
If you're gonna be a bear, be a grizzly
  • #78,868
  • Nov 1, 2018 1:52pm Nov 1, 2018 1:52pm
Quoting warrensapp
{quote} I am bearish. I haven't taken a position yet, but my gut feeling tells me this price wants to go down for a bit before it comes back to 113 or higher. Still waiting to see what happens though. {image}
I have this channel here in the chart daily. And the price can go for both sides yet, because of this i'm waiting for to confirm the direction.

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Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,869
  • Nov 1, 2018 3:37pm Nov 1, 2018 3:37pm
I like watching the matrix between EU, EJ, UJ. EJ has been stuck for 12 hours, ill be watching it for a break. EU might be about to pullback back but E has definitely found some strength, UJ might become the stuck one for a while. If EJ can break up in the asian session I'll long it, but i wont long UJ atm. I just try to make the best call on the picture presenting. Better option would be break down of EJ as i think it would offer more for the next 12hours as I'd expect EU to have a retracement day today. Lovely puzzle.
  • #78,870
  • Nov 1, 2018 3:46pm Nov 1, 2018 3:46pm
Starting to see a slight turn up - "cup" shape forming.

Asian (Sydney) session starting in 15 min. Still no position, waiting to see where this thing wants to go...
Attached Image (click to enlarge)
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If you're gonna be a bear, be a grizzly
  • #78,871
  • Nov 1, 2018 4:01pm Nov 1, 2018 4:01pm
Quoting warrensapp
Starting to see a slight turn up - "cup" shape forming. Asian (Sydney) session starting in 15 min. Still no position, waiting to see where this thing wants to go... {image}
Ive only been trading 3 years so im a newbie too, but in my experience trading the asian session I prefer to spend the first 2 hours of the session drawing TL , it tends to push up and down and around. Ill start looking for a position 2 hours in (10am sydney) but expect it to reverse again within the following 2 hours after that . ie just before noon sydney time when its 11am japan the whole pic might reverse. I keep a close eye on 5min candle reversals, and esp lower highs / higher lows. It took me about 2.5 years to learn that time of day can really affect the pic, im far more cautious around hour changeovers and market openings... and in the first hour of the session i find UJ spread 1.5 times bigger than average
Good luck
  • #78,872
  • Nov 1, 2018 4:10pm Nov 1, 2018 4:10pm
Quoting hellsbells
{quote} Ive only been trading 3 years so im a newbie too, but in my experience trading the asian session I prefer to spend the first 2 hours of the session drawing TL , it tends to push up and down and around. Ill start looking for a position 2 hours in (10am sydney) but expect it to reverse again within the following 2 hours after that . ie just before noon sydney time when its 11am japan the whole pic might reverse. I keep a close eye on 5min candle reversals, and esp lower highs / higher lows. It took me about 2.5 years to learn that time of...
Mannnnnnnn I am so glad you said that. I noticed yesterday that the Asian session was moving slow until after a couple hours in. I was wondering about that.

Update on my chart:
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If you're gonna be a bear, be a grizzly
  • #78,873
  • Nov 1, 2018 6:03pm Nov 1, 2018 6:03pm
15 min chart: After the thrust down and trend break yesterday, price gave room to move to 112.57, post here (https://www.forexfactory.com/showthr...8#post11642738) which it just hit. Now we also see a falling wedge forming which can give room for a push higher. But of course price could still move to the 112.2 area. Longs begun, they have.

If we also look at the 4 hour, on october 10th, we see price after the large thrust down, gave room for price to hit 111.4 which we can see happened. Then with the more recent W-formation, and the thrust up, we now have room for price to move back to 113.87 and eventually 114.5.

UJ moves very closely with US Bonds, so to understanding this pair fully, following bonds is very important.
Attached Image(s) (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #78,874
  • Nov 1, 2018 8:51pm Nov 1, 2018 8:51pm
Quoting COGSx86
UJ moves very closely with US Bonds, so to understanding this pair fully, following bonds is very important.
Can you please explain this a little bit to me? What is the relationship or correlation between bonds and USD/JPY? What should I be looking for and what other non-technical indicators should I keep an eye in in relation to USD/JPY?
If you're gonna be a bear, be a grizzly
  • #78,875
  • Nov 2, 2018 12:06am Nov 2, 2018 12:06am
For those of you with longs prior to this move, hats off to sirs and ladies, and have a nice friday !
  • #78,876
  • Nov 2, 2018 12:27am Nov 2, 2018 12:27am
Quoting hellsbells
For those of you with longs prior to this move, hats off to sirs and ladies, and have a nice friday !
What caused that?
I am still a NOOB!!! Damn, there goes another 10 pips!
  • #78,877
  • Nov 2, 2018 12:33am Nov 2, 2018 12:33am
Quoting Icebot53
{quote} What caused that?

Who do you think!
Learn, a forex trader must, unlearn and relearn he will.
  • #78,878
  • Nov 2, 2018 12:39am Nov 2, 2018 12:39am
Quoting COGSx86
{quote} Who do you think!
If I was 100% sure, do you really think I would ask the question? I'm assuming this:

https://www.fxstreet.com/news/usd-jp...5-11fb479d51ae
I am still a NOOB!!! Damn, there goes another 10 pips!
  • #78,879
  • Nov 2, 2018 12:52am Nov 2, 2018 12:52am
Quoting Icebot53
{quote} If I was 100% sure, do you really think I would ask the question? I'm assuming this: https://www.fxstreet.com/news/usd-jp...5-11fb479d51ae

Trump likes to ruffle the markets


https://www.forexfactory.com/news.php?do=news&id=842889
Learn, a forex trader must, unlearn and relearn he will.
  • #78,880
  • Nov 2, 2018 12:53am Nov 2, 2018 12:53am
Other pairs jumped as well
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