USD/JPY Discussion

Quoting OBsayMkMoney

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{quote} Short... target the wick bottom for now. (Exploratory trade, probably a market maker testing the market to see how low buyers are), 134.8 - 134.5 on the extreme side, then some sideways action before going north. Looking like a possibly dovishfed report, but let's see what the next couple of weeks bring. For now IMO DXY has a small pullback then finishes the uptrend that will then give us 7-10 days of bearish then sideways movement. Wed March 15th I switch back to bullish if my previous call downward pans out {image}.

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Quoting SilentFather

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I made simple resistance analysis today on USD/JPY, but I forget to trade it.. LOL. I'm a d*** {image} {image} SF

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Quoting OBsayMkMoney

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{quote} Why I use Limit\Stop orders my friend. You can always put it under if you see a possible bearish move, or above. Also great for when you identify an area of consolidation right before news. Just put a SL on it just in case. It is great to wake up, open your phone and see all that blueness.

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Quoting SilentFather

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{quote} I know my dear friend. However I trade on 350 EUR account with 0.3 -> 0.5 lots so I must sit in front of my PC and my SL must be under 6 pips & also the trade must be opened on low (if buy) or high (if I want to sell) not othewise!. This is sadly not possible with Limit/Stop orders. Yes I can do it, but I need to see price action happening. If I miss anything from this, account will blow up.

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Quoting OBsayMkMoney

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{quote} Ahhhh... the funded account rules. understood. Us rogues out here trading like savages lol

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Quoting SilentFather

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{quote} That's the problem.. I can't do funded accs probably. Because scalping is prohibited there :/ This is my acc with 350 eur. I want to build equity. 😆

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Quoting OBsayMkMoney

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{quote} Bro... then you can do it! I have accounts I start with as little as 50 for friends, that I trade .01 on with limit orders. Just don't open them with a .50 lot. My daughter's account for instance she started with 400$ US. She is up to 850 now. When at the screen she uses standard sizes commensurate with the account level, but if she sees something forming she will leave a limit\stop there with .01 on it. Stop loss and all. The stop stops her out with a 5$ loss. The TP is open most times. If you aren't comfortable try it in Demo first with...

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Quoting OBsayMkMoney

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{quote} Bro... then you can do it! I have accounts I start with as little as 50 for friends, that I trade .01 on with limit orders. Just don't open them with a .50 lot. My daughter's account for instance she started with 400$ US. She is up to 850 now. When at the screen she uses standard sizes commensurate with the account level, but if she sees something forming she will leave a limit\stop there with .01 on it. Stop loss and all. The stop stops her out with a 5$ loss. The TP is open most times. If you aren't comfortable try it in Demo first with...

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Quoting Butters

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{quote} That's cool you got your daughter into trading. With more and more jobs being automated over time, including white collar jobs, trading is a good skill set to have imo. If my job ever gets automated I have a fall back. Plus since I went to school for programming, I can leverage that in the trading world too, not just the tech industry. Maybe see if she'd be interested in learning Python too. Trading + programming is a good way to eventually write your own ticket.

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Quoting KeenPips

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USDJPY price action on the daily time frame is retesting the 134.140/138.400 horizontal resistance zone (red) and presently experiencing some bearish challenge. Although the dominant technical structure is bullish, we may still see southward liquidity engineering before further northward drive. I may be wrong. Trade safe and prosper. KP {image}

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