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USD/JPY Discussion 12 replies

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USD/JPY Discussion

  • #80,781
  • Jul 4, 2019 12:49am Jul 4, 2019 12:49am
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  • #80,782
  • Jul 4, 2019 6:31am Jul 4, 2019 6:31am
Quoting Ss0
Well You can see where this is going. It could be possible a rise of 100 - 200 pips but it still could visit the lows previously made around 105. And if it rose 100 - 200 pips would be Hot Sell Opportunity. But there is one thing market is still heavily long USDJPY so fall might come soon. And I usually dont Sell GBPJPY but I will in this case with a Limited SL. See You Bye Bye
Tortillos Babitwas

But I think GBPJPY is going to fall more harder very hard and same with GBPCAD too. But I still wait USDJPY to fall Hard Hard Hard

See you

Bye Bye
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  • #80,783
  • Edited 4:08pm Jul 5, 2019 3:45pm | Edited 4:08pm
Cause and effect, action reaction! The power of the FED, all around us!
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Learn, a forex trader must, unlearn and relearn he will.
  • #80,784
  • Jul 5, 2019 7:04pm Jul 5, 2019 7:04pm
Quoting COGSx86
Cause and effect, action reaction! The power of the FED, all around us! {image}
It means usdjpy is still going down to 107.....
  • #80,785
  • Jul 5, 2019 7:18pm Jul 5, 2019 7:18pm
Quoting fxpattern11
USD/JPY H4 chart with Shark pattern {image}
Good one.

Pls how can I have this scanner. I have lost a lot of money on forex. Am a new trader. Help me please.
  • #80,786
  • Jul 5, 2019 9:16pm Jul 5, 2019 9:16pm
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  • #80,787
  • Edited Jul 7, 2019 12:57pm Jul 6, 2019 3:40pm | Edited Jul 7, 2019 12:57pm
USDJPY about to take a serious bath.
  • #80,788
  • Jul 6, 2019 4:22pm Jul 6, 2019 4:22pm
Quoting Ogo
{quote} Good one. Pls how can I have this scanner. I have lost a lot of money on forex. Am a new trader. Help me please.
You will lose even more money by relying on “scanners” if you don’t know how to trade
Don't Worry Be Happy
  • #80,789
  • Jul 6, 2019 6:01pm Jul 6, 2019 6:01pm
From my crystal ball:

Me thinks USD/JPY has seen the top on Friday. There's really nothing to support its further rise, yep bond yields have risen and share indices recovered but there's nothing what could boost (at least the yields) them whatsoever. Next week and on we shall revisit last lows (106.70ish) and perhaps break them down. Hard to think it will visit the media-proclaimed levels of 109.xx, not even 108.85. I'm all bearish here, supported by fundamentals (which have nowhere to go bullish) as well as trader's sentiment. Yep I can reckon the inverted H/S, but I guess it won't play out this time.

Will probably start a short after markets open on Monday.
MarginTrader All Time Return: na
  • #80,790
  • Jul 6, 2019 6:18pm Jul 6, 2019 6:18pm
Quoting MaryJane
From my crystal ball: Me thinks USD/JPY has seen the top on Friday. There's really nothing to support its further rise, yep bond yields have risen and share indices recovered but there's nothing what could boost (at least the yields) them whatsoever. Next week and on we shall revisit last lows (106.70ish) and perhaps break them down. Hard to think it will visit the media-proclaimed levels of 109.xx, not even 108.85. I'm all bearish here, supported by fundamentals (which have nowhere to go bullish) as well as trader's sentiment. Yep...
too many trader here are short on uj. This means...well...uj may go up even more. i say 109.20 is the top for uj next week n after that it will go down to 108 again. going by fundamentals, 224 plus in nfp aint no joke, aint it? watch out for gaps also because two weeks in a row, uj has finished on a positive note. another gap up then i can almost assure myself that it will finish positively for 3 consecutive weeks.
  • #80,791
  • Jul 7, 2019 2:08am Jul 7, 2019 2:08am
Quoting MrPresident
{quote} You will lose even more money by relying on “scanners” if you don’t know how to trade
So do you have any help or advice to offer
  • #80,792
  • Jul 7, 2019 8:36am Jul 7, 2019 8:36am
Quoting Ogo
{quote} Good one. Pls how can I have this scanner. I have lost a lot of money on forex. Am a new trader. Help me please.
I know it is nice to earn money from forex, but first, u must Know how to trade...
You Must Know How To Read The Chart...
Read From Biggest Time Frame ; Monthly > Weekly > Daily, to know the Trends...
Just use Trendline (Horizontal and Verticall )..apply it to OHLC of the bigger time frame.. u will start to know how the chart move brother..
I have been Trading for almost 3 years.. 2 years with lost and don't know direction.. since a year ago i started to know how to read the chart and still learning..

Just my opinion
  • #80,793
  • Jul 7, 2019 8:48am Jul 7, 2019 8:48am
Quoting Ogo
{quote} So do you have any help or advice to offer
sure, don't rely on Fibonacci, scanners, harmonic patters

trade bigger time frame charts

avoid scalping and day trading on lower time frame charts

don't over trade

don't get emotional about trading

don't trade big positions where one bad trade can wipe out your account

study BabyPips to learn about Forex trading

https://www.babypips.com/learn/forex
Don't Worry Be Happy
  • #80,794
  • Jul 7, 2019 8:52am Jul 7, 2019 8:52am
Quoting dani22
{quote} I know it is nice to earn money from forex, but first, u must Know how to trade... You Must Know How To Read The Chart... Read From Biggest Time Frame ; Monthly > Weekly > Daily, to know the Trends... Just use Trendline (Horizontal and Verticall )..apply it to OHLC of the bigger time frame.. u will start to know how the chart move brother.. I have been Trading for almost 3 years.. 2 years with lost and don't know direction.. since a year ago i started to know how to read the chart and still learning.. Just my opinion
if the market is not trending, then trend lines won't help you

if the market is choppy, then you can get wiped out easily by following trend lines that in your opinion should hold the price
Don't Worry Be Happy
  • #80,795
  • Jul 7, 2019 9:12am Jul 7, 2019 9:12am
i don't think that there will be much upside to this pair and we might be going down further from current levels since the FED might be more dovish, the China/US trade war is still in progress, and Iran is going crazy

the market also wants rate cuts and a weaker dollar
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Don't Worry Be Happy
  • #80,796
  • Jul 7, 2019 9:22am Jul 7, 2019 9:22am
Quoting Ogo
{quote} Good one. Pls how can I have this scanner. I have lost a lot of money on forex. Am a new trader. Help me please.
as there are very few good strategies.
it is very important that you first test before using any strategy.
because it probably won't work.
  • #80,797
  • Jul 7, 2019 10:32am Jul 7, 2019 10:32am
Price is making LL and LH it's in a downtrend at the minute the only hesitation we've got now is we've made a HL and also broke the daily trendline if that HL gets broken and closed above I'll be waiting for retest to take the long, it could turn out to be a double top though given the current trend bias down I'd prefer this option, price is rejecting the 88.6 fib ratio (Mr president doesn't use them but my advice would be to study them and use them lots of people were long on GU not realising price was double top at a 38.2 fib ratio and I made killing shorting pound USD last week so they work for me). If my HL gets broken to downside I'll wait for pull back retest and enter short.
Price movement is fractal it always has been and always will be study raw market movement before anything else.
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  • #80,798
  • Jul 7, 2019 11:58am Jul 7, 2019 11:58am
Quoting MrPresident
{quote} sure, don't rely on Fibonacci, scanners, harmonic patters trade bigger time frame charts avoid scalping and day trading on lower time frame charts don't over trade don't get emotional about trading don't trade big positions where one bad trade can wipe out your account study BabyPips to learn about Forex trading https://www.babypips.com/learn/forex
i couldnt agree more.. all these technicals dont mean jack wihtout sufficient margin n trend to support. All about baby steps. i trade because i enjoy it first then make money second. if you're in it just to make money then you'll tend to gamble and get desperate. Those two are the top two reason why traders lose money IMHO.
  • #80,799
  • Jul 7, 2019 12:03pm Jul 7, 2019 12:03pm
Quoting MrPresident
i don't think that there will be much upside to this pair and we might be going down further from current levels since the FED might be more dovish, the China/US trade war is still in progress, and Iran is going crazy the market also wants rate cuts and a weaker dollar {image}
gotta respectfully disagree...all those concern u mentioned are valid. however, looking at the weekly chart where it finished on a plus side for 2 consecutive weeks makes it hard to think that uj wont go up again. anothet gap up by 15 plus pips this week can send this pair up to maybe 109.20ish before going back down to 108 area. but then again, this is forex and i am still a little uncertain that the trend has reversed to uptrend.
  • #80,800
  • Edited 1:43pm Jul 7, 2019 1:25pm | Edited 1:43pm
Quoting MrPresident
{quote} sure, don't rely on Fibonacci, scanners, harmonic patters trade bigger time frame charts avoid scalping and day trading on lower time frame charts don't over trade don't get emotional about trading don't trade big positions where one bad trade can wipe out your account study BabyPips to learn about Forex trading https://www.babypips.com/learn/forex
and discount most of that post.... except the babypips link so at least you know what everybody else knows (see the last sentence of this post)... oh and the bit about scanners. Learn how the market moves, THEN learn how to trade, Then develop a system to trade, and do not lose any more money until you have doubled or trebled your demo account. Only AFTER COMPLETING all the aforementioned should you allow yourself to trade real money... and stay away from forums until you have done all these things. Sorry if that is not what you want to hear and you will do what you want anyway. Just remember that in excess of 90% of all traders lose ALL of their money in the market. Same % applies to forums.
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