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USD/JPY Discussion

  • #82,661
  • May 11, 2020 6:41am May 11, 2020 6:41am
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
Naked charts are like looking at the Matrix. One day they just click... I am still working on that. Almost there though. How long have you traded, and any tips on the naked charting? Other than of course taking the red pill.
Don't compare your trades to others. Most often the masses are the asses
  • #82,662
  • May 11, 2020 6:46am May 11, 2020 6:46am
Quoting KeenPips
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 {quote}
Thanks Keen. I mean it to. PLEASE point out when I am wrong. I am like Johnny 5. I NEED INPUT!
Don't compare your trades to others. Most often the masses are the asses
  • #82,663
  • May 11, 2020 7:04am May 11, 2020 7:04am
Quoting OBsayMkMoney
{quote} Naked charts are like looking at the Matrix. One day they just click... I am still working on that. Almost there though. How long have you traded, and any tips on the naked charting? Other than of course taking the red pill.

I've been trading (although I prefer to say "speculating", because that's what it really is) on the markets since 2002. Full time since 2015. I actually had an account on FFactory back in 2004, although I can't possibly remember the name, been years and years since I was back here. I must be one of FF's oldest readers, lol.

For me, it took almost 15 years to go from bollinger bands, MA crosses, EAs, divergences, envelopes, candle stick patters etc etc, to just naked charts. I can't tell you what suddenly makes you look at a chart and sometimes just have this conviction of what is happening. Sometimes you look at a historical pattern and then at the current market and you notice that they broadly follow the same pattern. But it's not the "head and shoulders" or "harmonics" types. Those are unreliable too. No, it's just a pattern that will will repeat itself only once , but that's enough to take a calculated gamble on it. And it will never be the pattern that online blogs and newsletters will tell you it is.
I don't know why or how it happens. My best guess is it's just thousands of hours of screen time and of studying charts. You've got to be really interested in the markets to sustain this effort for years. And one day, you begin to notice things. But I don't have a recipe for it I'm afraid.
I can tell you that speculating took a lot of £ (and more) from me, for a long time, before it started giving. And I personally would not have survived it had it not been for the fact that I had a series of well-paid jobs through those loss-making years.
  • #82,664
  • May 11, 2020 7:44am May 11, 2020 7:44am
Quoting tehnoob
{quote} I've been trading (although I prefer to say "speculating", because that's what it really is) on the markets since 2002. Full time since 2015. I actually had an account on FFactory back in 2004, although I can't possibly remember the name, been years and years since I was back here. I must be one of FF's oldest readers, lol. For me, it took almost 15 years to go from bollinger bands, MA crosses, EAs, divergences, envelopes, candle stick patters etc etc, to just naked charts. I can't tell you what suddenly makes you look at a chart and sometimes...

Good stuff. Thanks. 2002 huh? Wow. I started in 2015. Took some $ from me as well, but thankfully started getting it back this year. Helps to write my ideas out loud, and have had my greatest improvements after starting to do so. Thank Gawd for well paying jobs!! lol
Don't compare your trades to others. Most often the masses are the asses
  • #82,665
  • May 11, 2020 7:46am May 11, 2020 7:46am
UJ bulls look so beautiful
  • #82,666
  • May 11, 2020 7:50am May 11, 2020 7:50am
Quoting JayBag
UJ bulls look so beautiful
just short 107.4
need a retrace..
looks to good to be true
  • #82,667
  • May 11, 2020 7:54am May 11, 2020 7:54am
Quoting gatenio
{quote} just short 107.4 need a retrace.. looks to good to be true
Fair enough.. Only looking to add to my bulls tomorrow..
But I would never short it. (just my opinion)

My tomorrow area to add would be 106.89 area

Stay Safe
  • #82,668
  • May 11, 2020 7:56am May 11, 2020 7:56am
Quoting JayBag
{quote} Fair enough.. Only looking to add to my bulls tomorrow.. But I would never short it. (just my opinion) My tomorrow area to add would be 106.89 area Stay Safe
below 107 good to me.
my initial target is 107.196
  • #82,669
  • May 11, 2020 8:05am May 11, 2020 8:05am
Quoting gatenio
{quote} below 107 good to me. my initial target is 107.196
Possible..
I just don't enjoy going against the trend even for a scalp..

I rather wait out the retrace
SS
  • #82,670
  • May 11, 2020 8:07am May 11, 2020 8:07am
Quoting JayBag
{quote} Possible.. I just don't enjoy going against the trend even for a scalp.. I rather wait out the retrace SS
you know the work.
i do stupid mistakes..
  • #82,671
  • May 11, 2020 8:11am May 11, 2020 8:11am
We all need input/feedback....and, if you like, to learn continuously for consistent, sustainable trading success.

KP

Quoting OBsayMkMoney
{quote}....I NEED INPUT!
Do your homework, follow the footprints of smart money
  • #82,672
  • May 11, 2020 8:19am May 11, 2020 8:19am
Quoting gatenio
{quote} you know the work. i do stupid mistakes..
Sitting on my hands was another hard thing to eradicate..

I honestly wish you get some pips for the road.
Rooting for you

SS
  • #82,673
  • May 11, 2020 9:19am May 11, 2020 9:19am
Quoting gatenio
{quote} just short 107.4 need a retrace.. looks to good to be true
bad one.
  • #82,674
  • May 11, 2020 10:28am May 11, 2020 10:28am
Quoting gatenio
{quote} bad one.
Its looking very bullish on 1 hr RSI...my suggestion is that dont switch to short.

Apologize if the price moves in different direction lol. This pandemic messed up all my technical.
  • #82,675
  • May 11, 2020 10:41am May 11, 2020 10:41am
Quoting tehnoob
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. {image}
Looking like Neo is spot on.
If the cluster is taken out bulls may feel invigorated and pounce, just as it decides to turn. Trapping them in the trade as it continues down.
Don't compare your trades to others. Most often the masses are the asses
  • #82,676
  • May 11, 2020 10:47am May 11, 2020 10:47am
Quoting Rayh2003
{quote} Its looking very bullish on 1 hr RSI...my suggestion is that dont switch to short. Apologize if the price moves in different direction lol. This pandemic messed up all my technical.
still hold. bad trade
107.770 seems like a magnet
  • #82,677
  • May 11, 2020 10:49am May 11, 2020 10:49am
New outbreak in South Korea after they re-opened....
Don't compare your trades to others. Most often the masses are the asses
  • #82,678
  • May 11, 2020 5:40pm May 11, 2020 5:40pm
Quoting shahab8b
USDJPY long setup. I posted this in my thread earlier. {image}
UJ long trade hit the target
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY 5 8 2020.PNG Size: 75 KB
Click to Enlarge Name: USDJPYH1 5 8 2020.png Size: 34 KB
Click to Enlarge Name: USDJPYH1 5 11 2020.png Size: 46 KB
  • #82,679
  • May 11, 2020 5:43pm May 11, 2020 5:43pm
USDJPY, long setup on daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 5 11 2020 d.PNG Size: 52 KB
  • #82,680
  • May 12, 2020 1:15am May 12, 2020 1:15am
Quoting JayBag
{quote} Fair enough.. Only looking to add to my bulls tomorrow.. But I would never short it. (just my opinion) My tomorrow area to add would be 106.89 area Stay Safe
Morning All,

With such a pale bullish move, I decided not to add to my longs.. I will let it run in peace!
More bull power this week...

111.XX is not far off..

SS
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