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USD/JPY Discussion

  • #82,261
  • Feb 4, 2020 8:59am Feb 4, 2020 8:59am
- Example:-

The strength of a correlation between 3 currencies
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  • #82,262
  • Feb 5, 2020 1:23pm Feb 5, 2020 1:23pm
liquidity = price magnet
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At its best, change itself becomes a lifestyle.
  • #82,263
  • Feb 7, 2020 7:48am Feb 7, 2020 7:48am
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Patterns have an underlying mathematical structure.
  • #82,264
  • Feb 9, 2020 9:29pm Feb 9, 2020 9:29pm
Quoting Amir_Forex
{image}{image}

Looks like we will get another chance to get in. 109.6 area on deck
Don't compare your trades to others. Most often the masses are the asses
  • #82,265
  • Feb 10, 2020 12:11pm Feb 10, 2020 12:11pm
Everybody seems to see 110 as some permanent top...am I the only one who thinks a spike above 111 is something that can happen very soon?
Everyone can see the chart, but only a few can actually read it.
  • #82,266
  • Feb 10, 2020 12:17pm Feb 10, 2020 12:17pm
Quoting OnlineAddict
Everybody seems to see 110 as some permanent top...am I the only one who thinks a spike above 111 is something that can happen very soon?
What is soon for you?
  • #82,267
  • Edited 1:26pm Feb 10, 2020 1:10pm | Edited 1:26pm
Quoting YYZ
{quote} What is soon for you?
Anytime...this month maybe, not sure. All I am saying is that I am cautious with holding shorts so close below 110...negative swaps + possible breakout towards 111.80 or more.

On the monthly chart...even if 114-115 came within the next few months, it wouldn't be a surprise to me, but it seems it would surprise a lot of people.
Everyone can see the chart, but only a few can actually read it.
  • #82,268
  • Feb 10, 2020 3:12pm Feb 10, 2020 3:12pm
Quoting YYZ
{quote} Right, to 111.80 from 109.73 is about 200 pips...hypothetically yes but how long is going to take to get there? I am day trader so for me is focus on what is going today ......
I don't care how long...because if we stay above 110 and keep ranging there...the negative swaps alone would kill most retailer accounts(high leverage) within 2 months. Everybody(90%) is now short on UJ, average shorts in the 109.20 area...109.55 might have been the bottom this week, we will see. I would be cautios, thats all. Plenty of short scalps to be made above 110.
Everyone can see the chart, but only a few can actually read it.
  • #82,269
  • Feb 10, 2020 5:04pm Feb 10, 2020 5:04pm
Quoting OnlineAddict
{quote} I don't care how long...because if we stay above 110 and keep ranging there...the negative swaps alone would kill most retailer accounts(high leverage) within 2 months. Everybody(90%) is now short on UJ, average shorts in the 109.20 area...109.55 might have been the bottom this week, we will see. I would be cautios, thats all. Plenty of short scalps to be made above 110.
UJ daily range is 30-50 pip, not a big mover, monitoring this pair to trade other pairs, risk assets, and gold is important, above 110 is where overbought begins, but as you mentioned, negative swaps will kill the trade if there is no big event to take down, it will days weeks to dive.
  • #82,270
  • Feb 10, 2020 5:07pm Feb 10, 2020 5:07pm
And one more thing, as long as Trump is still Potus, risk off market will be just for corrections, not a trend, taking UJ below 107 will eventually make all risk assets dive, and Trump wont let that happen, he wants to be re-elected, and he will keep making new highs in stock markets
  • #82,271
  • Feb 10, 2020 6:59pm Feb 10, 2020 6:59pm
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  • #82,272
  • Feb 10, 2020 7:01pm Feb 10, 2020 7:01pm
Not much volume, JPY bank holiday. Unsure, but have TP 2/3 already scalping
  • #82,273
  • Feb 10, 2020 7:03pm Feb 10, 2020 7:03pm
If you don't mind squiggles, it's just touched 50 SMA on monthly, also at resistance TL.
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  • #82,274
  • Feb 10, 2020 8:52pm Feb 10, 2020 8:52pm
TP 109.872. The tide might be turning for the afternoon Asian session. I'm out.
  • #82,275
  • Edited Feb 11, 2020 12:18am Feb 10, 2020 11:02pm | Edited Feb 11, 2020 12:18am
Quoting YYZ
{quote} What is soon for you?
Quoting OnlineAddict
Everybody seems to see 110 as some permanent top...am I the only one who thinks a spike above 111 is something that can happen very soon?
It is funny you guys are talking about this. I pulled up my weekly and was just speculating. From the history we were here on the weekly. We bounced down then went long . In effect a bear trap. So I see you both as right. If so, all Board the 109.16
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The yen 1hr
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UJ
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Don't compare your trades to others. Most often the masses are the asses
  • #82,276
  • Feb 11, 2020 12:11am Feb 11, 2020 12:11am
Quoting OBsayMkMoney
{quote} Looks like we will get another chance to get in. 109.6 area on deck

This was meant to read 109.96.
Don't compare your trades to others. Most often the masses are the asses
  • #82,277
  • Feb 11, 2020 2:56pm Feb 11, 2020 2:56pm
Firting with 71.9 level. May bounce off of 109.8 area?
Don't compare your trades to others. Most often the masses are the asses
  • #82,278
  • Feb 12, 2020 2:52am Feb 12, 2020 2:52am
Quoting OnlineAddict
Everybody seems to see 110 as some permanent top...am I the only one who thinks a spike above 111 is something that can happen very soon?
And up we go...now lets see if we can break the top at 110.30.
Everyone can see the chart, but only a few can actually read it.
  • #82,279
  • Edited 5:35pm Feb 14, 2020 5:23pm | Edited 5:35pm
Holding 2 shorts over the weekend. The first chart is off my computer and shows my fav 5min candlestick pattern with a pin bar followed by candle that can't penetrate the top 50% of pinbar candle, and is where I opened my shorts. The solid rejections of higher prices yesterday during the Asian session, like 2 bull traps, and gold going up gave me enough confidence to hold shorts before close of trade. I did loosen off my SL in case it's hectic on opening, but at a risk level I'm happy with. Once open settles I'll look to tighten SL up again hopefully to BE. The H4 candle I opened trade on thought not shooting star, has given me bearish optimism. The blue squiggle is 50 SMA. I opened trade on Ct platform on my phone, hence different to my laptop charts
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  • #82,280
  • Feb 16, 2020 5:41pm Feb 16, 2020 5:41pm
Closed trades manually 109.822
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