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USD/JPY Discussion

  • #78,961
  • Nov 7, 2018 12:21pm Nov 7, 2018 12:21pm
Quoting palpite
{quote} Yes, Sell again . Let's see. Sell - 113.30 SL - 113.42 .
Another loss. Not is good to trade it while not show a clear direction for me.

.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,962
  • Nov 7, 2018 12:22pm Nov 7, 2018 12:22pm
USD/JPY is showing neutral to negative short term picture today. The pair bounced from the daily low at 112.94 and curretnly is trading around 113.40 level. On the four hour time frame the price is developing above its bullish, but slow moving averages. Technical indicators are located within negative areas with the Momentum heading lower. A break below 112.60 will turn into bearish mode and on the other hand above 113.40, the upside will look more constructive.
  • #78,963
  • Nov 7, 2018 2:34pm Nov 7, 2018 2:34pm
Quoting palpite
{quote} Another loss. Not is good to trade it while not show a clear direction for me. .
Ya - i've I had to cut losses a couple times on this chart. Just holding no position or neutral until I get more confidence in one direction. Using this time to read and learn more.
If you're gonna be a bear, be a grizzly
  • #78,964
  • Nov 7, 2018 3:12pm Nov 7, 2018 3:12pm
Quoting warrensapp
{quote} Ya - i've I had to cut losses a couple times on this chart. Just holding no position or neutral until I get more confidence in one direction. Using this time to read and learn more.
Let's wait the price touch the trendline upper or the breakout of this channel, for while not is good for to open trades.

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Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,965
  • Edited 5:04pm Nov 7, 2018 4:51pm | Edited 5:04pm
I was looking for a specific quote to share, and it's not in the link, which is still a great read. I suspect Jesse might've had the day off yesterday.

https://www.marcellagerwerf.com/jesse-livermore-quotes/

My mantra, when I sit down to trade, Is to tell myself quite happily, but NOT with pessimism, that I have absolutely no idea what's going to happen. I'll place trades based on a trigger / experience/ volume, but I will still be very happy to accept that it could still be wrong. I have improved trading by NOT going all in straight away, so moderating my exposure, and by having quite tight SL so a bad trade is removed before I have a chance to even gasp in horror. I also like to get a trade BE because then too I can think clearer. My aim is to (make money and) be able to think as clearly as possible which means limiting risk, and accepting loss. These have not been easy lessons, and I still screw up frequently.
  • #78,966
  • Nov 7, 2018 5:31pm Nov 7, 2018 5:31pm
Folks, my long target is 114.20 (give or take a few pips).

What's yours, if you're buying?
Amor Fati--F. Nietzsche
  • #78,967
  • Nov 7, 2018 5:32pm Nov 7, 2018 5:32pm
Quoting warrensapp
{quote} Ya - i've I had to cut losses a couple times on this chart. Just holding no position or neutral until I get more confidence in one direction. Using this time to read and learn more.

Personally I wouldn't study the charts of the last 24 hours unless you just want to learn that TA has plenty of limitations. Yesterdays chart shows speculation, uncertainty. I think TA for a chart is based on more of an all things being equal, average flow of buyers and sellers giving a more accurate reading of chart direction. Yesterday was mayhem.

Price can only go up or down, so 50/50 chance. Hopefully with TA we can have an idea that a trade is more likely ( eg 60%) to go in one direction, but it's still best guess. Again, yesterday was mayhem. If you want to study the chart look at it and go " yes, FX can be a crazy son of a gun"
  • #78,968
  • Edited 6:23pm Nov 7, 2018 5:35pm | Edited 6:23pm
Quoting doji
Folks, my long target is 114.20 (give or take a few pips). What's yours, if you're buying?

I'm not in a trade atm, but I'd be heading for re touch of 114.516 if I was , with a tightening os SL to just below 114.052 if it gets above that

Actually knowing me I'd TP at 113.815 lol
just Longed EJ. A bit hopeful that E going to find its feet again
  • #78,969
  • Nov 7, 2018 7:49pm Nov 7, 2018 7:49pm
was about to shut down but saw this opportunity. 2 trades, planning to TP on one and use that profit as SL for other
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  • #78,970
  • Nov 7, 2018 8:18pm Nov 7, 2018 8:18pm
not really feeling it but a deal's a deal. TP $33 1 trade, and that's $33 SL and my wishful TL which makes my trade safe lol

NB stopped out, came out $2 in front. Finished for the day, Traded EJ instead. Good Luck
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  • #78,971
  • Nov 7, 2018 9:25pm Nov 7, 2018 9:25pm
114.5 is a major resistance area for bullish.
bias bearish,anyway.
Attached Image
Everything will be OK in the end,if it is not OK, it's not the end.
  • #78,972
  • Nov 7, 2018 10:31pm Nov 7, 2018 10:31pm
Quoting palpite
{quote} Let's wait the price touch the trendline upper or the breakout of this channel, for while not is good for to open trades. {image}
Let's see now

Sell - 113.73

SL - 114.00

.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,973
  • Edited 3:00am Nov 8, 2018 2:08am | Edited 3:00am
Trends: monthly main & direct trend bullish, weekly direct trend bullish while the confirmed weekly bearish swing trap supporting the possibility of a higher $ price.
Currently, price is facing a critical resistance level (confluence of primary & secondary monthly resistances as well as a primary weekly resistance).
A decisive break through & close above will accelerate price to the north.
At the moment the sellers are nowhere to be found (fact).
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Every so often wrong and sometimes right but always honest. MV
  • #78,974
  • Nov 8, 2018 3:25am Nov 8, 2018 3:25am
There could be a great intercept from here if the bell would not ring on 113.8ish, cuz short the thing from here back there to the bottom
sell: 113.743 Sell again 113.722Sl 113.873 tp 100pips. Big bucks for the week
Keep the Lights on then you can catch the rise from the dark.
  • #78,975
  • Nov 8, 2018 6:23am Nov 8, 2018 6:23am
Quoting palpite
{quote} Let's see now Sell - 113.73 SL - 114.00 .

Trade closed in 113.65

.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #78,976
  • Nov 8, 2018 6:41am Nov 8, 2018 6:41am
Quoting doji
Folks, my long target is 114.20 (give or take a few pips). What's yours, if you're buying?

Similar target, I have hmmm but one must fear the downside, if price breaks the weeks low!
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Learn, a forex trader must, unlearn and relearn he will.
  • #78,977
  • Nov 8, 2018 6:52am Nov 8, 2018 6:52am
I am a dollar bull on this pair, but it looks like this move is running out of puff for now.

Depending on FOMC later, I would expect to see a pullback to 113.40 before it decides which direction to shoot off in.
  • #78,978
  • Nov 8, 2018 7:31am Nov 8, 2018 7:31am
Hello All,My Charting today
UJ wait for rise
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  • #78,979
  • Nov 8, 2018 12:02pm Nov 8, 2018 12:02pm
Quoting SPATrading
Trends: monthly main & direct trend bullish, weekly direct trend bullish while the confirmed weekly bearish swing trap supporting the possibility of a higher $ price. Currently, price is facing a critical resistance level (confluence of primary & secondary monthly resistances as well as a primary weekly resistance). A decisive break through & close above will accelerate price to the north. At the moment the sellers are nowhere to be found (fact). {image}
A decisive breakout on the H4 indeed in place. However H4 is 6 time less reliable than the daily thus it is crucial to wait and see the closing of the day and more important the closing of the week tomorrow. There is enough ADR for price to reach the 114.04 ish primary resistance and see the price action around that area...

The EX resistance and NOW support level marked in yellow requires close monitoring...

With current facts sellers are nowhere to be found...
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Every so often wrong and sometimes right but always honest. MV
  • #78,980
  • Nov 8, 2018 1:17pm Nov 8, 2018 1:17pm
The USD/JPY pair is on run,performing excellent today. The pair is nearing a 4-week high and currently is trading few pips below 114.00 handle. On the four hour time frame the price is showing strong bullish stance, having the development above its bullish moving averages. Technical indicators are standing well above their midlines and are showing good upward strength. The scale is leaned to the upside, with gains beyond 113.85 opening doors for an extension toward 114.54, October monthly high.
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