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USD/JPY Discussion

  • #79,461
  • Dec 14, 2018 10:06am Dec 14, 2018 10:06am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_e,Daily web1.jpg Size: 625 KB

Guys, I still believe this is still a good long term buy towards 117.00 and may go even higher to 117.00

Copied from FreshForex
  • #79,462
  • Dec 14, 2018 1:42pm Dec 14, 2018 1:42pm
Quoting palpite
. Sell - 113.55 SL - 113.70 .
.

Trade closed in 113.26

.
Together we can be strongest
Vantage Return This Month: na
  • #79,463
  • Edited 7:41pm Dec 14, 2018 2:09pm | Edited 7:41pm
Quoting COGSx86
Key it is, to confirm bearishness. Lets see if we get confirmation. {image}
Your support is broken! Nice double top on hour chart! May the bears rule next week after a nominal retracement Monday.

Really great image btw, complete with easy to understand explanations . Thanks
  • #79,464
  • Dec 14, 2018 2:19pm Dec 14, 2018 2:19pm
UJ looks to be starting a wave 3 up on the H4 /\

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  • #79,465
  • Dec 14, 2018 7:44pm Dec 14, 2018 7:44pm
Quoting Prisha
{image} Guys, I still believe this is still a good long term buy towards 117.00 and may go even higher to 117.00 Copied from FreshForex
I'm still only on my ph atm so I dont see the pics quite so well to compare, but would you reconsider your view now the latest candle is complete and below your TL? That is, the last 2 days have tweezer top with your TL as resistance?

Else it could be descending triangle waiting for break up... we shall see of course
  • #79,466
  • Dec 14, 2018 7:50pm Dec 14, 2018 7:50pm
Quoting hellsbells
{quote} I'm still only on my ph atm so I dont see the pics quite so well to compare, but would you reconsider your view now the latest candle is complete and below your TL? That is, the last 2 days have tweezer top with your TL as resistance?
last week got killed on friday lost 500 $ in usd jpy trades damnn ranging market killed my trades. What a worst way to end a week. My problem is i overtrade now i will just focus on one or two setups per week . Go big or Go home lol.
  • #79,467
  • Dec 14, 2018 8:00pm Dec 14, 2018 8:00pm
Quoting MrAashir
{quote} last week got killed on friday lost 500 $ in usd jpy trades damnn ranging market killed my trades. What a worst way to end a week. My problem is i overtrade now i will just focus on one or two setups per week . Go big or Go home lol.
Look, I totally understand how you feel and where you're at, and have been there done that!!. Shake it off over the weekend, regroup, and accept that there will be days that everything goes right (try and max profit on those days) and days where everything goes to shit.
I'm working on placing some smaller trades on hour candle reversals because I find the RR is great (maybe 5:1), and it limits the number of trades I take which in turn means i trade less and might lose less! I used to think sitting and staring at the charts but not in an active trade was boring, but after some big losses i can not be in a trade and be perfectly happy because at least I'm not LOSING money.
Mindset makes a massive difference in this game too. Every time I trade when I'm angry or frustrated or simply feeling in a rush, I lose money. Remember 5min is not going to make a big difference to a fantastic trade if you're planning to hold it for hours.
  • #79,468
  • Dec 14, 2018 8:01pm Dec 14, 2018 8:01pm
Quoting COGSx86
Key it is, to confirm bearishness. Lets see if we get confirmation. {image}
What is your long term target if the bearsih confirm? Thanks
  • #79,469
  • Dec 14, 2018 8:16pm Dec 14, 2018 8:16pm
Quoting hellsbells
{quote} Look, I totally understand how you feel and where you're at, and have been there done that!!. Shake it off over the weekend, regroup, and accept that there will be days that everything goes right (try and max profit on those days) and days where everything goes to shit. I'm working on placing some smaller trades on hour candle reversals because I find the RR is great (maybe 5:1), and it limits the number of trades I take which in turn means i trade less and might lose less! I used to think sitting and staring at the charts but not in an...

Yes i know all of that but still it is soo hard to stay disciplined. Hour candle Reversal is great and all but it doesnt work in ranging markets and my strategy is similar as well and normally i dont trade on fridays as it mostly range but god greed got better of me when i saw trade opportunity got right in and then got screwed my ranging market.
  • #79,470
  • Dec 14, 2018 8:22pm Dec 14, 2018 8:22pm
Quoting markofrose
{quote} What is your long term target if the bearsih confirm? Thanks

I think its kind of risky to be bearish here unless there is a news about strong jpy. Usdjpy looks bullish
  • #79,471
  • Dec 15, 2018 5:50am Dec 15, 2018 5:50am
I think it's better to concentrate on eurjpy than uj as ej has formed a bearish pinbar on weekly.....
  • #79,472
  • Dec 15, 2018 7:14am Dec 15, 2018 7:14am
Quoting Forexnewbe14
I think it's better to concentrate on eurjpy than uj as ej has formed a bearish pinbar on weekly.....
elaborate a little further on EJ, there is still a rising trenline that its been respecting.
if it respects it we going back up to the range high and then down again, a break and close below it will have me interested...
4&1 All Time Profit: $37,496
  • #79,473
  • Dec 15, 2018 7:24am Dec 15, 2018 7:24am
Quoting MzansiObi
{quote} elaborate a little further on EJ, there is still a rising trenline that its been respecting. if it respects it we going back up to the range high and then down again, a break and close below it will have me interested...
Iam not that much pro bro...but looking at EU ..it formed a pin last month, so iam more inclined towards south...u can check this site.....
https://dailypriceaction.com/daily-s...ence-next-week
  • #79,474
  • Dec 15, 2018 8:43am Dec 15, 2018 8:43am
Quoting markofrose
{quote} What is your long term target if the bearsih confirm? Thanks

Will be watching

113.000
112.650
112.230

But who knows, with the FED meeting coming up wednesday, price may continue higher.
Learn, a forex trader must, unlearn and relearn he will.
  • #79,475
  • Dec 15, 2018 2:44pm Dec 15, 2018 2:44pm
Quoting Forexnewbe14
I think it's better to concentrate on eurjpy than uj as ej has formed a bearish pinbar on weekly.....
EJ has been bouncing between 128-129 for ages. It had significant daily break down of TL last week but still continued rangebound. Be careful. Its burnt me several times in the last month. A rejection at upper resistance on Monday during Asian session on a minimum hour candle level would be nice, but when London opens it can bounce so hard. A tricky one.
  • #79,476
  • Dec 15, 2018 3:17pm Dec 15, 2018 3:17pm
The USDJPY consolidates around the 113.35 level and it still has a good resistance at the 114.00 zone and a support at the 113.00 level where we can also find the 55 day EMA.
  • #79,477
  • Dec 16, 2018 7:46am Dec 16, 2018 7:46am
Quoting WallStBeggar
Possible still going south until london open tomorrow {image}
Yes if it goes south then buy personally i think its trending north. It should go and test last week high if not just sell
  • #79,478
  • Dec 16, 2018 3:50pm Dec 16, 2018 3:50pm
Speaks for itself, 1.9 Billion dollar bills short USDJPY.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYfutures2.jpg Size: 128 KB



https://www.myfxbook.com/community/outlook/USDJPY
Learn, a forex trader must, unlearn and relearn he will.
  • #79,479
  • Dec 16, 2018 4:31pm Dec 16, 2018 4:31pm
Quoting COGSx86
Speaks for itself, 1.9 Billion dollar bills short USDJPY. {image} https://www.myfxbook.com/community/outlook/USDJPY
Very Good.
Together we can be strongest
Vantage Return This Month: na
  • #79,480
  • Dec 16, 2018 4:38pm Dec 16, 2018 4:38pm
Quoting COGSx86
Speaks for itself, 1.9 Billion dollar bills short USDJPY. {image} https://www.myfxbook.com/community/outlook/USDJPY
So does this mean should i short or go long?
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