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USD/JPY Discussion

  • #85,801
  • Aug 23, 2022 7:52am Aug 23, 2022 7:52am
Quoting ForexGoose
{quote} It is still strong today and it can reach 140 or exceed easily. Bears need to be careful.
I went long @ 137.27. TP at least 138.50. I am confident price will reach HH, but what will happen after that who knows, it might just continue the trend and create a new HH..
  • #85,802
  • Aug 23, 2022 8:28am Aug 23, 2022 8:28am
Quoting Matej.FX
{quote} I went long @ 137.27. TP at least 138.50. I am confident price will reach HH, but what will happen after that who knows, it might just continue the trend and create a new HH..
Quoting mosya
{quote} No, I’m buying up to 138.5 and then retesting from 137.5 to 140 if everything is fine

My old post
  • #85,803
  • Aug 23, 2022 8:50am Aug 23, 2022 8:50am
OOF @ you bulls.
BOHICA Bears!

135.6 short term goal. Not going that far yet IMO. IF we break 134 though..
Don't compare your trades to others. Most often the masses are the asses
  • #85,804
  • Aug 23, 2022 8:51am Aug 23, 2022 8:51am
I've closed my short at 136.69. Nice day for me.
  • #85,805
  • Aug 23, 2022 8:55am Aug 23, 2022 8:55am
Quoting Matej.FX
{quote} I went long @ 137.27. TP at least 138.50. I am confident price will reach HH, but what will happen after that who knows, it might just continue the trend and create a new HH..

This guy trades fundamentals with a BIG account balance. If you are indeed new I would not follow his style unless you are trading .01 lots with a $4000 account.
Don't compare your trades to others. Most often the masses are the asses
  • #85,806
  • Aug 23, 2022 9:04am Aug 23, 2022 9:04am
Quoting OBsayMkMoney
{quote} This guy trades fundamentals with a BIG account balance. If you are indeed new I would not follow his style unless you are trading .01 lots with a $4000 account.
I was lucky as lucky a man can get. Just took the profit from Euro, Pound and USD vs Yen before they news.. Oh man....
  • #85,807
  • Edited 9:51am Aug 23, 2022 9:23am | Edited 9:51am
IMO Bulls have another leg up. I expect it soon.. but I am impatient, so.. grain of salt. This bearish news I believe scared the fundamentalists, but the fear will fade as throughout the day it won't go that much further down unless 134 is assaulted.


Closed my shorts off that fade. Engaging longs at this level. The day may show another leg down, but after that IMO.. we finish the bull move.

CAREFUL 134.6-8 is still out there. this looks to be a 3 leg down move (wave 4)
Don't compare your trades to others. Most often the masses are the asses
  • #85,808
  • Aug 23, 2022 1:43pm Aug 23, 2022 1:43pm
Quoting OBsayMkMoney
IMO Bulls have another leg up. I expect it soon.. but I am impatient, so.. grain of salt. This bearish news I believe scared the fundamentalists, but the fear will fade as throughout the day it won't go that much further down unless 134 is assaulted. Closed my shorts off that fade. Engaging longs at this level. The day may show another leg down, but after that IMO.. we finish the bull move. CAREFUL 134.6-8 is still out there. this looks to be a 3 leg down move (wave 4)

Caught the retracement up... now going short again to end the US Market. Should take out the LOD before moving again. Jackson Hole incoming, so we may sell the emporium, and buy when it is over.
Attached Image (click to enlarge)
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Don't compare your trades to others. Most often the masses are the asses
  • #85,809
  • Aug 23, 2022 7:24pm Aug 23, 2022 7:24pm
Quoting OBsayMkMoney
{quote} Caught the retracement up... now going short again to end the US Market. Should take out the LOD before moving again. Jackson Hole incoming, so we may sell the emporium, and buy when it is over. {image}
Yes, trend has changed. Now it's a bearish market. Traders waiting for 140.00 must wait. I'll try to open short position at 137.40 again.
  • #85,810
  • Aug 23, 2022 8:03pm Aug 23, 2022 8:03pm
Long USD/JPY. First TP 150, Second 250 and the third 1500
However funny this sounds, we might even see 150 who knows.

But this is good actually. It really teaches us that if you follow the trend of the pair, even those short term loses, however grand they are will disappear sooner then later if you stick with the trend. I will close my short and add long long term and that's it. Now, I am convinced USD is going to get to at least 140 very soon, Euro below parity again tells me that.
  • #85,811
  • Aug 23, 2022 11:04pm Aug 23, 2022 11:04pm
Quoting Matej.FX
Long USD/JPY. First TP 150, Second 250 and the third 1500 However funny this sounds, we might even see 150 who knows. But this is good actually. It really teaches us that if you follow the trend of the pair, even those short term loses, however grand they are will disappear sooner then later if you stick with the trend. I will close my short and add long long term and that's it. Now, I am convinced USD is going to get to at least 140 very soon, Euro below parity again tells me that.

Easy there killer. Everything comes to an end. What you are experiencing is the end of wave three. the longest one, and usually the one that people fight the most because they keep thinking it has to stop soon. Then they get that reprieve.. wave 4. But the fucked up one is that wave 5. Why because it makes you think that price is about to go just as far as it just did.. and it isn't. So yes. we are going up. But not that far in my opinion. Just enough for you to get excited that you are right.. then.. boom. Down.

Long to 139.4 short from there unless something happens.
Don't compare your trades to others. Most often the masses are the asses
  • #85,812
  • Aug 23, 2022 11:31pm Aug 23, 2022 11:31pm
Quoting OBsayMkMoney
{quote} Easy there killer. Everything comes to an end. What you are experiencing is the end of wave three. the longest one, and usually the one that people fight the most because they keep thinking it has to stop soon. Then they get that reprieve.. wave 4. But the fucked up one is that wave 5. Why because it makes you think that price is about to go just as far as it just did.. and it isn't. So yes. we are going up. But not that far in my opinion. Just enough for you to get excited that you are right.. then.. boom. Down. Long to 139.4 short from...
Okey then. See you at 139.4! Long till 139
  • #85,813
  • Aug 23, 2022 11:41pm Aug 23, 2022 11:41pm
Quoting OBsayMkMoney
{quote} Easy there killer. Everything comes to an end. What you are experiencing is the end of wave three. the longest one, and usually the one that people fight the most because they keep thinking it has to stop soon. Then they get that reprieve.. wave 4. But the fucked up one is that wave 5. Why because it makes you think that price is about to go just as far as it just did.. and it isn't. So yes. we are going up. But not that far in my opinion. Just enough for you to get excited that you are right.. then.. boom. Down. Long to 139.4 short from...
1. Agree about the count, this is could be wave 3.
2. Yesterday drop was 4th, who said its done?
3. Its only a 5 waves pattern if we will see a new HH!
4. If we look on daily chart most reasonable scenario is 5 wave cycle down from now.
Which will be 5-3-5 zigzag, and now its time to the past 5 waves down as long now higher high.

For me is SHORT only!


will draw the chart
later
  • #85,814
  • Aug 23, 2022 11:47pm Aug 23, 2022 11:47pm
I was waiting the yen above 137.40 to open short but the price crossing 136.74 surprised me. I've opened short position at 136.50 with a reduced size in case the market surprises me again and send the yen to 137.40.
  • #85,815
  • Aug 23, 2022 11:56pm Aug 23, 2022 11:56pm
Closed my short at 136.43. I don't want to take a great risk. I guess that i'll watch de C wave of the correction.
  • #85,816
  • Edited 8:54am Aug 24, 2022 6:24am | Edited 8:54am
Looking at this and feel this could be a Bull flag... Might take trade!!! What do you think?

Taken trade!
Attached Image (click to enlarge)
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Don't trade what you think. Just what you see!!!
  • #85,817
  • Aug 24, 2022 6:50am Aug 24, 2022 6:50am
Quoting Konichiwhaat
Just a little trade idea (from inside Japan). We are still closed to independent tourist and have been for years now. Only people tourists on guided tours, family and business people can come, but it is still very strict. The borders may open up to people in the next couple of months (from what we have heard), but no guarantees. The international tourist demand is now bubbling over, people really want to get into Japan for what ever reasons. When Japan opens, the demand for Yen from overseas banks to meet demand may be so humongous! Just something...
Sound like a good idea. What's the cost of living in Japan? And feeling of people regarding economy. Here in Britain the cost of living is through the roof and just doom and gloom with the people.
Don't trade what you think. Just what you see!!!
  • #85,818
  • Aug 24, 2022 6:52am Aug 24, 2022 6:52am
Quoting josip
{image}
I just have to say that I think your TA is damned good. The area you're pointing out looks to be fitting in with a great Supply zone too. Good work!
I'm more a fundamental based trader, so I will wait longer for potential demand. But that's a nice short TA set up.
  • #85,819
  • Aug 24, 2022 10:20am Aug 24, 2022 10:20am
Short from 136.84. My tp at 135.80.
  • #85,820
  • Aug 24, 2022 5:26pm Aug 24, 2022 5:26pm
6:24 PM EST.
My chart is looking alot like it did before the last drop. We have GDP news tomorrow 8:30 am EST. Much as we did on the 22nd. That drop started at 8:30 PM the night before. Let's see if they telegraph the news once again shall we?
Don't compare your trades to others. Most often the masses are the asses
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