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USD/JPY Discussion

  • #84,421
  • Jan 21, 2022 12:32am Jan 21, 2022 12:32am
Bought 113.893 SL 113.798 TP 113.988
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  • #84,422
  • Jan 21, 2022 4:17am Jan 21, 2022 4:17am
Sold 113.798 SL 113.90 TP 113.702
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  • #84,423
  • Jan 21, 2022 4:18am Jan 21, 2022 4:18am
Just waiting to see if we hold support at NY open before I buy.
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"A true speculator tries the market small." - Jesse Livermore
  • #84,424
  • Jan 21, 2022 6:08am Jan 21, 2022 6:08am
Follow the yellow brick road.
113 bounce to 114.25
Then to 112. You think the recessionary trade is here? Not yet.
Jan 26 is FOMC day. If my numbers are right he will kick the can one last time to get us to 118-120
Mar 16 will be our first hike IMO.
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Don't compare your trades to others. Most often the masses are the asses
  • #84,425
  • Jan 21, 2022 8:11am Jan 21, 2022 8:11am
Starting to get divergence in price and rsi on all tf's and we're sitting on support.

I'm buying.

I think it's more likely we go to 117 from here and finish the handle to our cup and handle pattern on the daily.

Take a breather around 117 and get a final leg up to 118 +.
"A true speculator tries the market small." - Jesse Livermore
  • #84,426
  • Jan 21, 2022 8:41am Jan 21, 2022 8:41am
Quoting OBsayMkMoney
Follow the yellow brick road. 113 bounce to 114.25 Then to 112. You think the recessionary trade is here? Not yet. Jan 26 is FOMC day. If my numbers are right he will kick the can one last time to get us to 118-120 Mar 16 will be our first hike IMO. {image}
100% agreed with u and gr8 anyalise there we have a 23% retracement 1.1224 of weekly chart than we go for 118.00 apprecieted ur work
  • #84,427
  • Jan 21, 2022 11:54am Jan 21, 2022 11:54am
Bullish wedge on the 4 hour chart.
"A true speculator tries the market small." - Jesse Livermore
  • #84,428
  • Edited Jan 22, 2022 8:43am Jan 21, 2022 2:56pm | Edited Jan 22, 2022 8:43am
Like this level.

I'll hold this even if we drop to 112.50 on the downside which is unlikely.

We're only a little over 100 pips away from the November low.

So it's possible we'll retest the lows I just don't think it's gonna happen.

Overall market is oversold.

I think going into this week you see markets bounce a bit pushing UJ up and then mid week see UJ take off to retest 116.30 after fed minutes on Wed.
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"A true speculator tries the market small." - Jesse Livermore
  • #84,429
  • Jan 22, 2022 2:21pm Jan 22, 2022 2:21pm
Did you know: the previous week was a 3-Bar Reversal? this Month's candle is shaping up to be an awesome Key Reversal?

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It takes a lot for me to IGNORE you, but you can try.
  • #84,430
  • Jan 24, 2022 12:29am Jan 24, 2022 12:29am
entered the Long position at current level 113.6x. TP open
  • #84,431
  • Jan 24, 2022 3:40am Jan 24, 2022 3:40am
Short @113.82
TP @113.05
SL @ 114.25
  • #84,432
  • Jan 24, 2022 7:23am Jan 24, 2022 7:23am
Quoting OBsayMkMoney
Follow the yellow brick road. 113 bounce to 114.25 Then to 112. You think the recessionary trade is here? Not yet. Jan 26 is FOMC day. If my numbers are right he will kick the can one last time to get us to 118-120 Mar 16 will be our first hike IMO. {image}
4hr train tracks ahead IMO. We will range here until the announcement. Perhaps that will give us a parabolic to close out the shorts.
Don't compare your trades to others. Most often the masses are the asses
  • #84,433
  • Edited 8:45am Jan 24, 2022 8:34am | Edited 8:45am
40 pip range.

I'm buying at the low end around 113.58 because there's more potential for upside surprise.

With this kind of volatility in the market probably trade options.
"A true speculator tries the market small." - Jesse Livermore
  • #84,434
  • Jan 24, 2022 8:42pm Jan 24, 2022 8:42pm
I’m short currently target 112.55
  • #84,435
  • Jan 25, 2022 6:37am Jan 25, 2022 6:37am
Sold at 113.976 SL 114.156 TP 113.796
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  • #84,436
  • Jan 25, 2022 8:06am Jan 25, 2022 8:06am
Quoting ForexGoose
I'm thinking about buying now and putting a stop under 113.9, target profit 115+ I still have a feeling that it could go down further though {image}
I don't see much change on the chart and it still looks bullish.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #84,437
  • Jan 25, 2022 8:38am Jan 25, 2022 8:38am
It's funny how we look at a chart differently. I see it as bearish 114 is a big level .
  • #84,438
  • Jan 25, 2022 9:07am Jan 25, 2022 9:07am
The FEd has said they expect 2% inflation this year. The arrows in the first image below are the FEDS first rate disclosure in 2018. Tomorrow is the same event and comparison. If they tell you 2%, then yes lets expect 2% inflation But remember they do not use CPI. No rate hike tomorrow.

Price action of waves repeats the yearly cycle at the beginning of year with the retreat. Tomorrow the FED has no reason to lift rates. Price should continue the down trend. But first we might see a retrace.

Price may touch 114.294 before the continued down trend to roughly 112.5, who knows how long the market will take to get to these levels.

The first image is 2018 when The Fed and Mr. Powell were trying to lift rates when short term bonds were starting to lift above .25. The one difference this year compared to 2018 is volatility is much lower. Currency markets having a more forgiving range.
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Learn, a forex trader must, unlearn and relearn he will.
  • #84,439
  • Jan 25, 2022 12:05pm Jan 25, 2022 12:05pm
Quoting COGSx86
The FEd has said they expect 2% inflation this year. The arrows in the first image below are the FEDS first rate disclosure in 2018. Tomorrow is the same event and comparison. If they tell you 2%, then yes lets expect 2% inflation But remember they do not use CPI. No rate hike tomorrow. Price action of waves repeats the yearly cycle at the beginning of year with the retreat. Tomorrow the FED has no reason to lift rates. Price should continue the down trend. But first we might see a retrace. Price may touch 114.294 before the continued down trend...
do you have prices on your chart????
  • #84,440
  • Edited 2:24pm Jan 25, 2022 2:06pm | Edited 2:24pm
Nice channel up forming on the 4 hour chart.

Doesn't matter for me right now.

Only trading pa at session open right now to limit risk and time in the market.

Probably look for a buy after Europe opens or early AM.
"A true speculator tries the market small." - Jesse Livermore
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