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USD/JPY Discussion

  • #84,821
  • Apr 6, 2022 10:47am Apr 6, 2022 10:47am
Quoting ForexGoose
{quote} hawkish FOMC Meeting Minutes today will likely result in a test of the high near 125.2 {image}
Agreed. Not expecting much from it though. The run up we had before was PRE FOMC, so with little follow through afterwards, I don't see it going that far on minutes. I could be wrong though, but the hike was expected thus the early run up, and then we had FED testimony, so I think we may have all the news already.
Don't compare your trades to others. Most often the masses are the asses
  • #84,822
  • Edited 2:42pm Apr 6, 2022 2:32pm | Edited 2:42pm
Quoting fxmasterdxb
According to what i see, bear train has started moving! No further upside move except possible fake out move during FOMC minutes (which i really doubt)
So no fake up move by Fomc so I can bet we are starting wave down, but I could be wrong too, this pin bar can mix something buy Im hoping not, cheers!
Edit By now this H4 candle doesnt look good but we have one more hour to change this
People don't plan to lose. They lose because they don't plan.
  • #84,823
  • Apr 6, 2022 7:59pm Apr 6, 2022 7:59pm
Quoting ScalaFX
{quote} So no fake up move by Fomc so I can bet we are starting wave down, but I could be wrong too, this pin bar can mix something buy I'm hoping not, cheers! Edit By now this H4 candle doesnt look good but we have one more hour to change this

We just hit the resistance set by the FOMC minutes pin. I don't think we will break that level yet though. Tomorrow we have important news in the morning. I believe we will range until it comes out then revisit the top of this range before moving down. If we break it before the news however things will be interesting to say the least. Novice bulls are still out there. You know those of us who second guess the trend until it is almost over then try to wish it higher? (We have all been there I think). I will be watching the minutes before the news to see where price runs to and will counter it. IMO we need a stop hunt to the top before we move down. Let's see.

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Don't compare your trades to others. Most often the masses are the asses
  • #84,824
  • Apr 6, 2022 11:48pm Apr 6, 2022 11:48pm
Quoting fxmasterdxb
According to what i see, bear train has started moving! No further upside move except possible fake out move during FOMC minutes (which i really doubt)
I exited all my shorts, will re-assess later
  • #84,825
  • Apr 7, 2022 4:12am Apr 7, 2022 4:12am
Selling again @ 123.75, tight SL @ 124.10
  • #84,826
  • Edited 6:56pm Apr 7, 2022 10:51am | Edited 6:56pm
Quoting OBsayMkMoney
{quote} We just hit the resistance set by the FOMC minutes pin. I don't think we will break that level yet though. Tomorrow we have important news in the morning. I believe we will range until it comes out then revisit the top of this range before moving down. If we break it before the news however things will be interesting to say the least. Novice bulls are still out there. You know those of us who second guess the trend until it is almost over then try to wish it higher? (We have all been there I think). I will be watching the minutes before...
Added another. 119.8 TP 124.3 hedge trade (sl)
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Don't compare your trades to others. Most often the masses are the asses
  • #84,827
  • Apr 7, 2022 11:57am Apr 7, 2022 11:57am
Is something wrong with this pair, others slippin down UJ consolidate, disrribution will be hard and fast but which way up or down? I hope down to minimum 120
People don't plan to lose. They lose because they don't plan.
  • #84,828
  • Apr 7, 2022 12:14pm Apr 7, 2022 12:14pm
Maybe now formed double top and wave B/4 is ready and starting C/4 I hope
People don't plan to lose. They lose because they don't plan.
  • #84,829
  • Apr 7, 2022 1:39pm Apr 7, 2022 1:39pm
Quoting ScalaFX
Is something wrong with this pair, others slippin down UJ consolidate, disrribution will be hard and fast but which way up or down? I hope down to minimum 120


Wave 2 was long and flat, so if the rules are followed this wave (4) should be sharp. As long as we don't bump this lower high off that 125 this is a classic Wave B of a wave 4 ABC. IMO that is..
Don't compare your trades to others. Most often the masses are the asses
  • #84,830
  • Apr 7, 2022 1:45pm Apr 7, 2022 1:45pm
Looking good so far. Unemployment news had little effect. FOMC even less. As long as this lower high is held we are within perfect pattern ranges. I am fading the wave B off of what I believe to be the termination of a wave 3. Wave 4 is usually an ABC formation. An ABC formation ends below the A level when Bearish and above it when bullish. Areas to watch for possible consolidation or additional trades circled.

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Don't compare your trades to others. Most often the masses are the asses
  • #84,831
  • Apr 7, 2022 1:58pm Apr 7, 2022 1:58pm
It’s almost as if usdjpy is scared to touch 124.00….
  • #84,832
  • Apr 7, 2022 2:06pm Apr 7, 2022 2:06pm
Quoting OBsayMkMoney
Looking good so far. Unemployment news had little effect. FOMC even less. As long as this lower high is held we are within perfect pattern ranges. I am fading the wave B off of what I believe to be the termination of a wave 3. Wave 4 is usually an ABC formation. An ABC formation ends below the A level when Bearish and above it when bullish. Areas to watch for possible consolidation or additional trades circled. {image} {image}
Exatcly! I wish for this C wave, we can go much deeper as 120 but must be carefull in that level becouse from here pair can go sharp too, thanks for this! Cheers!
People don't plan to lose. They lose because they don't plan.
  • #84,833
  • Apr 8, 2022 2:39am Apr 8, 2022 2:39am
So, is this posible we are now in 5 already? This is it? Thats all for correction? I hope not, today is friday so anything can happen, trade safe folks!
People don't plan to lose. They lose because they don't plan.
  • #84,834
  • Apr 8, 2022 7:07am Apr 8, 2022 7:07am
Quoting fxmasterdxb
Selling again @ 123.75, tight SL @ 124.10
Next stop for me now is 125.50-70, ill be selling from there, most probably by next week
  • #84,835
  • Apr 8, 2022 7:55am Apr 8, 2022 7:55am
Quoting fxmasterdxb
{quote} Next stop for me now is 125.50-70, ill be selling from there, most probably by next week
Yes we can broke top today, i cut loss too
People don't plan to lose. They lose because they don't plan.
  • #84,836
  • Apr 8, 2022 8:07am Apr 8, 2022 8:07am
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #84,837
  • Edited 9:21am Apr 8, 2022 8:42am | Edited 9:21am
Risking some shorts 124.60
Edit BE
People don't plan to lose. They lose because they don't plan.
  • #84,838
  • Apr 8, 2022 10:16am Apr 8, 2022 10:16am
Quoting ScalaFX
Risking some shorts 124.60 Edit BE
TF4H road block...but this pattern not to strong...

UJ right now not follow any pattern..hehehehhe
  • #84,839
  • Apr 8, 2022 11:05am Apr 8, 2022 11:05am
Quoting zauha4
{quote} TF4H road block...but this pattern not to strong... UJ right now not follow any pattern..hehehehhe
This time when h4 closes like this can respect and drop some more, trade safe!
People don't plan to lose. They lose because they don't plan.
  • #84,840
  • Apr 8, 2022 11:36am Apr 8, 2022 11:36am
Quoting OBsayMkMoney
Looking good so far. Unemployment news had little effect. FOMC even less. As long as this lower high is held we are within perfect pattern ranges. I am fading the wave B off of what I believe to be the termination of a wave 3. Wave 4 is usually an ABC formation. An ABC formation ends below the A level when Bearish and above it when bullish. Areas to watch for possible consolidation or additional trades circled. {image} {image}
Hi mate!
are you still holding this to play out? Im thinking to add some shorts but Im lite afraid becouse price has taken little to far, but! Thats can be still 4b and now can start 4c, sooo, Im courius about your opinion, cheers!
People don't plan to lose. They lose because they don't plan.
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