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USD/JPY Discussion

  • #86,601
  • Mar 15, 2023 5:28am Mar 15, 2023 5:28am
Quoting OBsayMkMoney
I don't like that price is so high today. Makes me think the next 7 days may end up being bullish, and if THAT is true.. I am going to be sitting on my hands for longer than I want to waiting for Bitcoin to tank because it will instead be heading to 35.

Ooh what a diff a day makes. Looking nice for the wed before FOMC! Looks like .25 folks.
Don't compare your trades to others. Most often the masses are the asses
  • #86,602
  • Mar 15, 2023 5:53am Mar 15, 2023 5:53am
Quoting COGSx86
Psych lol {image}
You were close. It just had to finish it's trip north. Your first square was a wave 5 strarting.
Don't compare your trades to others. Most often the masses are the asses
  • #86,603
  • Mar 15, 2023 6:10am Mar 15, 2023 6:10am
Yeah, I gotta get up earlier. lol London has the best/easiest/most obvious setups. Pin bar rejection at the high of the week, pin bar rejection off the broken trend line, and a pullback entry that would have fit my criteria. Three opportunities for good entries that I missed because I was sleeping. Stupid time zone. lol I think I can manage getting up at 4am and going to bed at 8pm. Just gotta commit to it and do it already.
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Virtue signaling is for those who are devoid of actual virtue
  • #86,604
  • Mar 15, 2023 8:07am Mar 15, 2023 8:07am
We may be on the wrong line...
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Don't compare your trades to others. Most often the masses are the asses
  • #86,605
  • Mar 15, 2023 8:42am Mar 15, 2023 8:42am
Looking for setups in the NY session kinda sucks. Choppy, sloppy, sometimes floppy seconds. lol
Virtue signaling is for those who are devoid of actual virtue
  • #86,606
  • Mar 15, 2023 8:49am Mar 15, 2023 8:49am
Maybe.
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Virtue signaling is for those who are devoid of actual virtue
  • #86,607
  • Mar 15, 2023 7:20pm Mar 15, 2023 7:20pm
Does anyone know why the USDUPY has begun moving in direct correlation with other dollar pairs (EURUSD, AUDUSD, etc) especially today, when USDJPY AND EURUSD both made ginormous moves down at the same time and then retraced in a similar manner? Never seen that so obvious before.
  • #86,608
  • Mar 15, 2023 10:08pm Mar 15, 2023 10:08pm
Quoting 1candlepower
Does anyone know why the USDUPY has begun moving in direct correlation with other dollar pairs (EURUSD, AUDUSD, etc) especially today, when USDJPY AND EURUSD both made ginormous moves down at the same time and then retraced in a similar manner? Never seen that so obvious before.

Pre Fomc fuckery. they do it all the time.
Don't compare your trades to others. Most often the masses are the asses
  • #86,609
  • Mar 16, 2023 5:23am Mar 16, 2023 5:23am
Investors
Let's regard interest differential of Japanese yen as the dollar.
Do a major economic power, the armaments, the issue of declining birthrate, which currency have value?
  • #86,610
  • Mar 16, 2023 8:25am Mar 16, 2023 8:25am
Wondering if this is the bottom. Major support zone, positive divergence, lots of sudden buying interest... Went long and set a wide TP. We'll see what happens.
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Virtue signaling is for those who are devoid of actual virtue
  • #86,611
  • Mar 16, 2023 8:44am Mar 16, 2023 8:44am
Stop moved to break even. Gonna let it ride. I used a wider stop than usual so I cut my position size down. Initial risk was still under 1.5%. If this was in fact the bottom then I'll look to scale in to a larger position.
Virtue signaling is for those who are devoid of actual virtue
  • #86,612
  • Mar 16, 2023 11:16am Mar 16, 2023 11:16am
Quoting OBsayMkMoney
{quote} Pre Fomc fuckery. they do it all the time.
"all the time?" It frequently goes out of inverse relation for short periods (a few hours, maybe) but, I'm talking a couple of days - like this week and yesterday in particular. It's something I watch... carry trade liquidation maybe? (sheer flow magnitude could push it down like that despite the EURUSD's strong downward momentum,) or some other popular trade being opened or closed. Not sure about the mechanics either, banks would know all about these things...
  • #86,613
  • Mar 17, 2023 4:43am Mar 17, 2023 4:43am
Dear Investor,
It would be foolish to sell the dollar when the US 2-Year Yield or 10-Year Yield is falling!
Consider the interest rate differential with the yen. If you always hold US dollars, you can get swap points every day. Buying dollars will be the norm now.
  • #86,614
  • Mar 17, 2023 5:46am Mar 17, 2023 5:46am
I got stopped out for about +90.

New rule: If I open a trade during U.S. hours then that trade must be closed before the close of the NY session. I gave about 1/3 of the profit back trying to hold for a swing. I'm a day trader so I need to stick to what I'm good at. Forecasts aren't my strong suit at all, but I'm pretty good at reacting to what is happening right now. I need to leverage my strengths and not my weaknesses.

Onto the next one.
Virtue signaling is for those who are devoid of actual virtue
  • #86,615
  • Mar 17, 2023 5:50am Mar 17, 2023 5:50am
Quoting ty235685
Dear Investor, It would be foolish to sell the dollar when the US 2-Year Yield or 10-Year Yield is falling! Consider the interest rate differential with the yen. If you always hold US dollars, you can get swap points every day. Buying dollars will be the norm now.
There is crisis these days. Money flees to JPY.
  • #86,616
  • Mar 17, 2023 6:40am Mar 17, 2023 6:40am
Quoting 1candlepower
{quote} "all the time?" It frequently goes out of inverse relation for short periods (a few hours, maybe) but, I'm talking a couple of days - like this week and yesterday in particular. It's something I watch... carry trade liquidation maybe? (sheer flow magnitude could push it down like that despite the EURUSD's strong downward momentum,) or some other popular trade being opened or closed. Not sure about the mechanics either, banks would know all about these things...
We are saying the same thing my friend. "all the time" is a colloquial term for something that happens frequently.
Don't compare your trades to others. Most often the masses are the asses
  • #86,617
  • Mar 17, 2023 6:49am Mar 17, 2023 6:49am
UJ Long 132.2 level. Exploratory trade. SL 131.6
Don't compare your trades to others. Most often the masses are the asses
  • #86,618
  • Mar 17, 2023 6:53am Mar 17, 2023 6:53am
Could be forming an inverse H&S. If price revisits the support zone I'll look to get back long.
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Virtue signaling is for those who are devoid of actual virtue
  • #86,619
  • Mar 17, 2023 7:45am Mar 17, 2023 7:45am
Watching that 131.71 level, the low of the week.
Virtue signaling is for those who are devoid of actual virtue
  • #86,620
  • Mar 17, 2023 8:41am Mar 17, 2023 8:41am
Probably gonna stay flat today. Starting Monday I'm going to start getting up at 4am to catch the London action. The NY session can suck it. lol
Virtue signaling is for those who are devoid of actual virtue
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