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USD/JPY Discussion

Quoting OBsayMkMoney
{quote} Shorts IMO. Finally hit 109.5. We may close here, but I think this is it for now. EUR/USD already started it's way up.
Shorts give up here? EURUSD going up -> USDJPY going down? Why BOHICA for shorts?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting PayTheLimit
took some shorts at 109.16, risking 15 pips...
no dice...
Look Sharp/Trade Tight
Quoting TooSlow
{quote} Shorts give up here? EURUSD going up -> USDJPY going down? Why BOHICA for shorts?

No.. I was saying that the shorts were going to get some love here. That here comes the shorts... Longs are still running though, and may go to 110 now. Blew one of my stops, so someone got some money from me. If this keeps going this may be the kill shot long. Folks have been short for a while. P&L's are screaming for relief!
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} No.. I was saying that the shorts were going to get some love here. That here comes the shorts... Longs are still running though, and may go to 110 now. Blew one of my stops, so someone got some money from me. If this keeps going this may be the kill shot long. Folks have been short for a while. P&L's are screaming for relief!
Ok, Mate. Thanks. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Next stop 109.86-110?

Attached Image
My new "indicator" seems to be working. Just when I think "I might as well get in on this".. It turns lol
When you feel like you HAVE to trade is when you least should!
Sell USD/JPY | Nov 28, 2019

Everything has been illustrated in the video. TP & entry were explained in the video. There is no SL, exit manually in the loss if D1 candle closes above yesterday's high.
Inserted Video
Quoting PayTheLimit
{quote} no dice...
misread that candle completely, just saying....5 month highs now..have a good weekend..
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
Quoting Unbiased
Sell USD/JPY | Nov 28, 2019 Everything has been illustrated in the video. TP & entry were explained in the video. There is no SL, exit manually in the loss if D1 candle closes above yesterday's high. https://www.youtube.com/watch?v=xOWz9PJiLeI
The RSI chart showed negative divergence (ND). The recent price high, which was greater than the previous swing high, made a lower RSI high. ND predicts a price reversal and is more significant than RSI value alone. He did not mention this in his video.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
You will not be selling USDJPY with success until you know how price action handles the 109.570/110.020 horizontal resistance zone.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
Quoting TooSlow
{quote} The RSI chart showed negative divergence (ND). The recent price high, which was greater than the previous swing high, made a lower RSI high. ND predicts a price reversal and is more significant than RSI value alone. He did not mention this in his video.
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Does anyone simply think it's Friday and after a bullish week UJ might just have an end of week retracement rather than continue to push up? US holiday and all... surely a retreat back to 109 on a bank holiday more likely than a bull charge to 110 ?? We shall see. Friday's aren't my fav trading day, I expect today to be quite rangebound for the Asian session, but if it sneaks below 109.5 I'll be hoping to have some shorts to hold
This may have potential for a move back down. double top and a hanging man in between them on the daily.
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Quoting 4xjunkie
This may have potential for a move back down. double top and a hanging man in between them on the daily. {image}

Absolutely. I was very tempted to enter short with the move below 109.5 but I was in an EUR/AUD trade. Very tempting but I think I'll just call it a day.

Good Luck. I like your charts

Cheers H
Quoting 4xjunkie
This may have potential for a move back down. double top and a hanging man in between them on the daily. {image}
Do you think short is still good idea?
https://www.forexfactory.com/showthr...7#post12640017
Attached Image
Patterns have an underlying mathematical structure.
Quoting Amir_Forex
https://www.forexfactory.com/showthr...7#post12640017 {image}
Thank you Amir, opened my shorts, waiting for nice dump!
Quoting doniyor81
{quote} Thank you Amir, opened my shorts, waiting for nice dump!




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Patterns have an underlying mathematical structure.
Quoting 4xjunkie
This may have potential for a move back down. double top and a hanging man in between them on the daily. {image}

When I looked at your chart with your stop loss around 109.6 ie the high for the Asian session I wanted to enter a discussion about SL placement for the Asian session and I'll do that now. So many times, SO MANY TIMES I have placed a SL 5 pips beyond the max move for the Asian session and been stopped out by London or NY nastiness. So often !! Anyway I now more often than not TP during the Asian session as I find SL placement challenging. If I had a sell I might have placed a SL at 109.65 ie 5 pips above Asian max, and I still wouldv'e been taken out as it topped at 109.67. It could almost be a technique in itself- using the London/NY sessions to target max levels of Asian session... Anyway if you were stopped out I feel your pain
Cheers H
Quoting Amir_Forex
{quote} .................................................................................................... {image}
What is your stop loss?
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