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USD/JPY Discussion

  • #82,641
  • May 8, 2020 6:52am May 8, 2020 6:52am
USDJPY long setup. I posted this in my thread earlier.
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  • #82,642
  • May 8, 2020 7:09am May 8, 2020 7:09am
Quoting dimadono
{quote} your target is?
111.03
  • #82,643
  • May 8, 2020 8:54am May 8, 2020 8:54am
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  • #82,644
  • May 8, 2020 10:03am May 8, 2020 10:03am
Quoting JayBag
{quote} 111.03
Alright. Thanks
  • #82,645
  • May 9, 2020 10:15am May 9, 2020 10:15am
The overall movement is still bearish for me for USDJPY! I'm expecting a big bearish move down next week when the market has had enough buyers. And this is just my opinion Love to hear from guys aswell!
  • #82,646
  • May 10, 2020 1:12pm May 10, 2020 1:12pm
Here's a top-down technical perspective on USDJPY. The daily time frame shows a USDJPY price action in a bullish pullback. Although technicals give a slight edge to bulls, this seems to be temporary given the bigger technical outlook on the weekly time frame. The 107.800 area is an immediate horizontal resistance which bulls will have to contend with. Bulls are taking price action northward on the H4 time frame. Presently, price action is sideways around the 106.760 horizontal resistance area. If there is no southward turnaround in the area, bulls will find the 107.195/107.420 zone (magenta) challenging. Another challenge will quickly follow at the 107.650 congestion zone. I am bearish USDJPY, but I will wait for the bullish pullback to lose momentum before looking for a feasible sell trading opportunity.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #82,647
  • May 10, 2020 10:12pm May 10, 2020 10:12pm
Hello! Well, after the sequence of bullish signals on the 4-Hour charts of which I posted here last Friday, when trading started in Asia last night, I bought USDJPY at the open. Waited for the first hour of trading to close, set my stop loss just below that hourly candle as it was bullish, and I went to bed because it was getting quite late in London. Now price has broken out North. I expect it to get to around 108- 108.50s to take out that cluster of earlier highs, then I think it might resume its downtrend.

Posted on my journal too.
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  • #82,648
  • May 10, 2020 10:18pm May 10, 2020 10:18pm
I should add that, whilst the hourly chart started showing bullish signals late last week, and then was followed by bullish signals on the 4-hour charts, the daily chart has still only shown 1 bullish signal. I require at least two signals on the daily to begin considering larger bullish entries. That's why for me this is still just a bullish correction to the downtrend
  • #82,649
  • May 10, 2020 10:57pm May 10, 2020 10:57pm
Quoting tehnoob
I should add that, whilst the hourly chart started showing bullish signals late last week, and then was followed by bullish signals on the 4-hour charts, the daily chart has still only shown 1 bullish signal. I require at least two signals on the daily to begin considering larger bullish entries. That's why for me this is still just a bullish correction to the downtrend
I saw a little bullish divergence on long term monthly chart..price could still drop back to 105 but then shoot up to 109ish. What do u think, my friend?
  • #82,650
  • May 10, 2020 11:19pm May 10, 2020 11:19pm
Quoting Rayh2003
{quote} I saw a little bullish divergence on long term monthly chart..price could still drop back to 105 but then shoot up to 109ish. What do u think, my friend?
I tried divergences years ago but they're not reliable enough for me so I have long given up on them and any other indicators. That's why, aside from the occasional channel or trend line, my charts are completely naked as you can see. My only indicator is Luke, my golden puffer fish and spirit animal.

As for USD/JPy to 109ish yes, it's possible. I think that the stock markets are about to begin round #2 of the virus panic, so with that I expect USD.JPY to drop quite a bit overall. I'm not longer term bull on this pair yet
  • #82,651
  • May 10, 2020 11:26pm May 10, 2020 11:26pm
#USDJPY / Weekly & H4
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  • #82,652
  • May 10, 2020 11:38pm May 10, 2020 11:38pm
Quoting JayBag
Alot of UJ traders don't even know what they up against.. Daily close above 107.1811 is a rapid BULL.. Knowing UJ only moves on Fridays, that close may happen today.. Let's see how things pan out SS
UJ bulls didn't come out to play..

SS
  • #82,653
  • May 10, 2020 11:55pm May 10, 2020 11:55pm
This is what I was talking about.. UJ longs? I saw a lot of people saying it will drop to 101... If I was wrong on this pair, you'll find those keypad warriors that posted 3 weeks ago coming to tell me crap..

Nobody is quoting me since it's bullish..
If it was bearish, I would have gotten quotes of all kind telling me how to trade UJ or lot size from an account they don't own..

One sided bitter minds are way more on these forums than those that would actually complement you FR..
Anyway, save your lousy critic always coming from one bitter mind set lol

Free Mind, Free Spirit....
  • #82,654
  • May 11, 2020 3:55am May 11, 2020 3:55am
Quoting JayBag
This is what I was talking about.. UJ longs? I saw a lot of people saying it will drop to 101... If I was wrong on this pair, you'll find those keypad warriors that posted 3 weeks ago coming to tell me crap.. Nobody is quoting me since it's bullish.. If it was bearish, I would have gotten quotes of all kind telling me how to trade UJ or lot size from an account they don't own.. One sided bitter minds are way more on these forums than those that would actually complement you FR.. Anyway, save your lousy critic always coming from one bitter mind...
The only person criticizing the comments of others is you Jaybag. The people you are referring to may be in your mirror. I am one of those who said it would go to 101. I still stand by that, and said that it would in fact bounce around before it got there. Those who mentioned 101 also made it clear that we saw a sharp rise north first. Pray tell.. What are we experiencing? Rather than put people down (a critic of your methods of communication, and not of your charts)... Perhaps... Yanno.. LIFT AS YOU RISE. It would be a better position, in my opinion of course, to rather than laugh at someone's synopsis, discuss with them where you learned differently. Oh and for the record. Had someone "come for you" as you put it. I personally would have said the same to them. So stop lol. A trader should be fluid. Am I still looking for that 101 to go long? Yep! I know it is coming, and am willing to wait for it. Will I pick up some cheese here or there as it bounces around? Yep! Because if you see a dollar on the sidewalk on your way to work.. you pick it up, and yes. I even as bearish to 101 like free money.

In closing. I for one came to this forum not to be right. But to learn. To discuss my ideas. To put them out there and have others rebut them, much as adults do. That... would be awesome. Can we do that?
Don't compare your trades to others. Most often the masses are the asses
  • #82,655
  • May 11, 2020 3:56am May 11, 2020 3:56am
Quoting JayBag
This is what I was talking about.. UJ longs? I saw a lot of people saying it will drop to 101... If I was wrong on this pair, you'll find those keypad warriors that posted 3 weeks ago coming to tell me crap.. Nobody is quoting me since it's bullish.. If it was bearish, I would have gotten quotes of all kind telling me how to trade UJ or lot size from an account they don't own.. One sided bitter minds are way more on these forums than those that would actually complement you FR.. Anyway, save your lousy critic always coming from one bitter mind...

PS.. if you could.. not saying there aren't any.. but can you quote those "crap givers". I don't remember them.
Don't compare your trades to others. Most often the masses are the asses
  • #82,656
  • May 11, 2020 4:04am May 11, 2020 4:04am
That's why I just let my puffer fish do the trading. Thank God fish are just too dumb to have emotions or care about being validated or criticised by random strangers on a forum
  • #82,657
  • May 11, 2020 4:11am May 11, 2020 4:11am
I like this part. That's exactly what brought most of us here, including JayB. At any rate, cut yourselves some slack.

Stay well, trade well.

KP

Quoting OBsayMkMoney
{quote}... I for one came to this forum not to be right. But to learn. To discuss my ideas. To put them out there and have others rebut them, much as adults do. That... would be awesome. Can we do that?
Do your homework, follow the footprints of smart money
  • #82,658
  • May 11, 2020 4:21am May 11, 2020 4:21am
Quoting tehnoob
{quote} I tried divergences years ago but they're not reliable enough for me so I have long given up on them and any other indicators. That's why, aside from the occasional channel or trend line, my charts are completely naked as you can see. My only indicator is Luke, my golden puffer fish and spirit animal. As for USD/JPy to 109ish yes, it's possible. I think that the stock markets are about to begin round #2 of the virus panic, so with that I expect USD.JPY to drop quite a bit overall. I'm not longer term bull on this pair yet
I am biased bullish on this pair, but this is just my opinion is that stock market does not necessarily move in the same direction as this pair at least since the pandemic. Technical wise UJ in short time will pull back. But if it doesnt look out. And if it does move in the same direction as the stock market then haleluya. Yesterday's corona virus number in the US was at its lowest since march and therefore i believe the bulls arent over, but then again i am biased.lol
  • #82,659
  • May 11, 2020 4:36am May 11, 2020 4:36am
Correlation is never perfect in any market. So yes, assets can trade in the same direction and then suddenly break that correlation for a period. Either a bull or bear, just always protect your capital because bulls and bears tend to attack suddenly, just when one thinks they've got the win in the bag
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  • #82,660
  • May 11, 2020 4:38am May 11, 2020 4:38am
Quoting dimadono
The pair has managed to sell every pull back. In the minute chart for todays date it has managed to sell at the 50day MA the 200MA and at double tops with no sign reversal. Therefore, my trade plan is to buy every time it breaks. Buy1 @ 106.21 Buy2 @ 106.45 Buy 3 @ 106.96 Buy 4 @ 107.70 If the downtrend continues i am looking to buy around 104.50-105.00 area. hopefully that would work
i have followed my plan so far.

My opinion here is that if it breaks 107.70, then there is a break of the downtrend and we might head towards 112 or so.
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