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USD/JPY Discussion

  • #82,981
  • Jun 23, 2020 1:14pm Jun 23, 2020 1:14pm
Quoting FXSayWhat
well， what a nice day. {image}
Same here, except I stacked them puppies one on top of the other.
Don't compare your trades to others. Most often the masses are the asses
  • #82,982
  • Jun 23, 2020 1:21pm Jun 23, 2020 1:21pm
Quoting GuiltySanta
Hey all - I am relatively new to this and made an observation today. I noticed that as the price of gold was going up, USDJPY was going down. Is that sometimes the case or always? I compared them on the chart and for the most part it does look like a pretty high probability that if gold is going up, then the dollar is going down. I just need to know if my logic is being too simplistic or if there is more I should know? Thanks for any help - and apologies in advance if this is the wrong thread for this. Like I said, I'm still learning. {image}

Your logic is spot on. The USD is considered a safety currency by the world over. So when it fails, or has issues people look for a safe haven for their assets. Gold, silver, and precious metals are just that. Be careful though that you don't trade solely on this premise as there are times when they move in tandem, and you could get stuck in a bad and wayward trade. Look into supply and demand zones. Candle formations, Candle patterns, and Candle types. Try to learn the obscure trading disciplines such as harmonics, Fibonacci levels etc. Also trading psychology as this will help you to avoid pitfalls when the market uses your emotions to get you into a bad trade. Lastly.. if you feel like you NEED to trade.. it is probably because you are being manipulated into doing so, and often should take the opposite trade of what you feel. Oh.. and leave your charts up. Change the time periods.. and just LOOK at them. You will grow accustomed to how it moves without even realizing it, and when things don't look right your alarm bells will ring.
Good luck
Don't compare your trades to others. Most often the masses are the asses
  • #82,983
  • Jun 23, 2020 5:18pm Jun 23, 2020 5:18pm
Quoting tehnoob
{quote} We still rhyming guys? Puffer fish can't fckin rhyme! They're too dumb! Watch out tho. They more obvious the rhyming becomes, the more its predictive power wanes {image} {image} {image}
Hmmm IF we continue to Rhyme.. then 109?
Don't compare your trades to others. Most often the masses are the asses
  • #82,984
  • Jun 23, 2020 5:45pm Jun 23, 2020 5:45pm
Again? Nah right?
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Don't compare your trades to others. Most often the masses are the asses
  • #82,985
  • Jun 23, 2020 6:06pm Jun 23, 2020 6:06pm
Quoting OBsayMkMoney
Again? Nah right? {image}
i'm not sure what is implied here, a continuation after retesting resistance? (horizontal drawn lines)
  • #82,986
  • Jun 23, 2020 6:17pm Jun 23, 2020 6:17pm
Quoting neuron
{quote} i'm not sure what is implied here, a continuation after retesting resistance? (horizontal drawn lines)
Sorry.. full explanation. I don't think we will see three. Just one this time. One nice full one to take us back to the lows and fill that tail. Then.. andiamo.. WAIT... patience is the key. If I am right we will revisit that 106.1 and the 15m chart will show the weekness there before we bounce up in time for the London open. If there is no weakness we may go lower. 105.1 being the next step. I don't think so though. I think it will fake out to the south fast.. get folks excited.. then pop. All conjecture for now


This is a 4hr USD/JPY chart
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Don't compare your trades to others. Most often the masses are the asses
  • #82,987
  • Jun 23, 2020 6:19pm Jun 23, 2020 6:19pm
Quoting neuron
{quote} i'm not sure what is implied here, a continuation after retesting resistance? (horizontal drawn lines)
The lines are points of resistance. Any step past it will invalidate it. Tail, or candle, much as it did last night. Last night we gapped down, and the gap obeyed the rules. Price went up.. closed the gap, and then continued along it's original way down. Today.. Gap down. Price moved up and closed the gap, and then started down. Check the 15m chart and you will see it. That is why I see price possibly doing the same as it did.
Don't compare your trades to others. Most often the masses are the asses
  • #82,988
  • Jun 23, 2020 6:20pm Jun 23, 2020 6:20pm
Quoting OBsayMkMoney
{quote} Sorry.. full explanation. I don't think we will see three. Just one this time. One nice full one to take us back to the lows and fill that tail. Then.. andiamo.. WAIT... patience is the key. If I am right we will revisit that 106.1 and the 15m chart will show the weekness there before we bounce up in time for the London open. If there is no weakness we may go lower. 105.1 being the next step. I don't think so though. I think it will fake out to the south fast.. get folks excited.. then pop. All conjecture for now This is a 4hr USD/JPY chart...
got it, thanks!
  • #82,989
  • Jun 23, 2020 6:39pm Jun 23, 2020 6:39pm
"Playing the gap" Google it....
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15m support broken... Now a retest.. and continuation of the support.
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Don't compare your trades to others. Most often the masses are the asses
  • #82,990
  • Jun 23, 2020 7:09pm Jun 23, 2020 7:09pm
Quoting OBsayMkMoney
"Playing the gap" Google it.... {image} 15m support broken... Now a retest.. and continuation of the support. {image}
yup i see, nice confluence with other signals too. close the gap + divergence + daily pivot
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  • #82,991
  • Jun 23, 2020 9:37pm Jun 23, 2020 9:37pm
Quoting neuron
{quote} yup i see, nice confluence with other signals too. close the gap + divergence + daily pivot {image}
Also these gaps get played repeatedly as each market opens. You can almost time them to markets opening. Why I love Sunday evenings.
Don't compare your trades to others. Most often the masses are the asses
  • #82,992
  • Jun 24, 2020 3:42am Jun 24, 2020 3:42am
Quoting OBsayMkMoney
{quote} Hmmm IF we continue to Rhyme.. then 109?
If we continue to rhyme then maybe even below 100
  • #82,993
  • Jun 24, 2020 7:17am Jun 24, 2020 7:17am
Quoting OBsayMkMoney
{quote} Sorry.. full explanation. I don't think we will see three. Just one this time. One nice full one to take us back to the lows and fill that tail. Then.. andiamo.. WAIT... patience is the key. If I am right we will revisit that 106.1 and the 15m chart will show the weekness there before we bounce up in time for the London open. If there is no weakness we may go lower. 105.1 being the next step. I don't think so though. I think it will fake out to the south fast.. get folks excited.. then pop. All conjecture for now This is a 4hr USD/JPY chart...

It broke the resistance.. for now. If it holds we may have our time to move. I still have not seen the flag though, unless the 1hr chart qualified as one, so I am still keeping my eye on that low.
Don't compare your trades to others. Most often the masses are the asses
  • #82,994
  • Jun 24, 2020 9:29am Jun 24, 2020 9:29am
hrmm might have some more downside here, looking at how we close against the trendline, but i have my eyes on those missed pivots as eventual targets
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  • #82,995
  • Jun 24, 2020 10:10am Jun 24, 2020 10:10am
hmmmm.... Is that you again?
Ignore trades.. this is a demo screen
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Don't compare your trades to others. Most often the masses are the asses
  • #82,996
  • Jun 24, 2020 10:17am Jun 24, 2020 10:17am
we could have one more leg up to tag the purple trend/weekly pivot before diving... its been a tricky read lately
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  • #82,997
  • Jun 24, 2020 1:14pm Jun 24, 2020 1:14pm
Quoting neuron
we could have one more leg up to tag the purple trend/weekly pivot before diving... its been a tricky read lately {image}
boop TP hit
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  • #82,998
  • Jun 24, 2020 8:17pm Jun 24, 2020 8:17pm
I consider the reversal near 106 to be confirmed

We are in bull territory again
its just a script. join the club
  • #82,999
  • Jun 24, 2020 9:04pm Jun 24, 2020 9:04pm
Long in at 107.20 target 107.58
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Don't trade what you think. Just what you see!!!
  • #83,000
  • Jun 25, 2020 7:45am Jun 25, 2020 7:45am
trying on a short here, bearish 1H divergence against monthly pivot ~107.3
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