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USD/JPY Discussion

  • #87,241
  • Sep 28, 2023 2:36am Sep 28, 2023 2:36am
Quoting ty235685
‘Mr. Yen’ Says Japan Will Fret if Rate Hits 155, May Intervene (c)2023 Bloomberg L.P. https://news.yahoo.co.jp/articles/69...582144c74171da
its mean that they are start selling USD
  • #87,242
  • Sep 28, 2023 5:37am Sep 28, 2023 5:37am
omg my long will get killed? tried to scalp n my broker just eat me widen the spread
  • #87,243
  • Sep 28, 2023 5:44am Sep 28, 2023 5:44am
Quoting FreeGary
omg my long will get killed? tried to scalp n my broker just eat me widen the spread
Never scalp before a news event my friend.
Don't compare your trades to others. Most often the masses are the asses
  • #87,244
  • Sep 28, 2023 5:47am Sep 28, 2023 5:47am
Quoting OBsayMkMoney
{quote} Never scalp before a news event my friend.
manage to get out got lucky a few times. will take note in future this experience.
  • #87,245
  • Sep 28, 2023 6:30am Sep 28, 2023 6:30am
Quoting FreeGary
{quote} manage to get out got lucky a few times. will take note in future this experience.
For me that is the downside to scalping. In order to make decent money you need a big account, otherwise you find yourself staying in trades longer than you need to just to make a decent amount. At least I do. I didn't become successful until I started trading amounts I wasn't afraid to lose. .01 per 100 dollars. Be careful out there..
Don't compare your trades to others. Most often the masses are the asses
  • #87,246
  • Sep 28, 2023 7:06am Sep 28, 2023 7:06am
Quoting Rossidi
{quote} its mean that they are start selling USD
Yes it does, but just keep in mind that their previous interventions didn't last long. On the chart they look more like retracements with large wicks.
Don't compare your trades to others. Most often the masses are the asses
  • #87,247
  • Sep 28, 2023 7:07am Sep 28, 2023 7:07am
Quoting chickenrice
I am still learning so definitely not an advice but by observing the chart looks like it's a correction pulling back to 149 (or even further to 148.8) then going back up tomorrow if there is no intervention from BOJ. Let's see how it goes {image}

In some things innocence is better than knowledge. In innocence we trust ourselves more.
Don't compare your trades to others. Most often the masses are the asses
  • #87,248
  • Sep 28, 2023 9:26am Sep 28, 2023 9:26am
Southward bound with stops at 148.9 and 148.7
I don't expect to be out until tomorrow, and will continue buying Sunday. If BOJ is coming in at 155. I am aiming for that, although I am thinking more 157, so 155 intervention sends us down a bit. Just in time for FOMC minutes to send us up? Let's see.
Don't compare your trades to others. Most often the masses are the asses
  • #87,249
  • Sep 28, 2023 9:53am Sep 28, 2023 9:53am
Quoting FreeGary
omg my long will get killed? tried to scalp n my broker just eat me widen the spread
Also... any move that happens 15-20 minutes before news is most likely going to be reversed when the news hits. So if you are at 150 and price dives to 149 right before the news, that price will most likely jump back up to 150 and beyond. Hope this helps
Don't compare your trades to others. Most often the masses are the asses
  • #87,250
  • Sep 28, 2023 5:59pm Sep 28, 2023 5:59pm
Quoting Lbrto
No indication of BOJ intervening yet no?
Quoting chickenrice
I am still learning so definitely not an advice but by observing the chart looks like it's a correction pulling back to 149 (or even further to 148.8) then going back up tomorrow if there is no intervention from BOJ. Let's see how it goes {image}
Quoting OBsayMkMoney
{quote} Yes it does, but just keep in mind that their previous interventions didn't last long. On the chart they look more like retracements with large wicks.
Very important indeed. All their 2022 intervention effect seems to be erased now.
But I am careful, as it also means that they will probably NOT intervene in the same manner it has last year = anything can happen.

Their previous attempts, mainly in 1998, worked seemed to have had more durability than these last ones, but I am not letting appearances fool me, and trading accordingly, for if they need to have more effective interventions, they will get them.

I am mostly clueless about all of this. 99% technical trader.

But still is interesting :
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,251
  • Sep 29, 2023 6:18am Sep 29, 2023 6:18am
Brewing Big Short it seems

Here is the Trade Screenshot

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Target is 148.437 for now
  • #87,252
  • Sep 29, 2023 6:24am Sep 29, 2023 6:24am
Quoting LongTrmTrdng
Brewing Big Short it seems Here is the Trade Screenshot {image} {image} Target is 148.437 for now
GL! If something is indeed brewing and I think it is, 148 is nothing.
  • #87,253
  • Sep 29, 2023 10:05am Sep 29, 2023 10:05am
Quoting TheWraith
{quote} GL! If something is indeed brewing and I think it is, 148 is nothing.
148 is nothing. Post Your Trade.
  • #87,254
  • Sep 29, 2023 10:41am Sep 29, 2023 10:41am
Situation Doesnt Change At All Add more Short

I will hold the Short for Target Lets see how it goes

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Target is Slightly Upgraded To 148.496
  • #87,255
  • Oct 1, 2023 4:00am Oct 1, 2023 4:00am
Tonight is the night?

https://www.forexlive.com/news/boj-t...ates-20230929/
  • #87,256
  • Oct 1, 2023 4:11am Oct 1, 2023 4:11am
Quoting OBsayMkMoney
Southward bound with stops at 148.9 and 148.7 I don't expect to be out until tomorrow, and will continue buying Sunday. If BOJ is coming in at 155. I am aiming for that, although I am thinking more 157, so 155 intervention sends us down a bit. Just in time for FOMC minutes to send us up? Let's see.

155 a bit to high this time, but aside for later, my guess will reach ~151, and drop. I will be looking for signs before jumping in. Blns are waiting for this intervention, will happen in a blink.
  • #87,257
  • Oct 1, 2023 4:21am Oct 1, 2023 4:21am
JPY/USD Futures top COT date 26/09, shifting to long JPY
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  • #87,258
  • Oct 1, 2023 12:37pm Oct 1, 2023 12:37pm
USDJPY price action on the daily time frame is sideways. Presently, it is tacking the 150.000 horizontal resistance area (purple).

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #87,259
  • Oct 2, 2023 4:09am Oct 2, 2023 4:09am
Quoting Jolita
Tonight is the night? https://www.forexlive.com/news/boj-t...ates-20230929/
Its a very tricky situation just holding I have sl in place for the trade now and I am looking to go long thereabouts
  • #87,260
  • Oct 2, 2023 4:17am Oct 2, 2023 4:17am
Quoting LongTrmTrdng
Situation Doesnt Change At All Add more Short I will hold the Short for Target Lets see how it goes {image} {image} Target is Slightly Upgraded To 148.496
Alright This is a Critical Update

I have sl in place for this trade and will be looking to go long in the region 149.800 - 149.900

Here is the Trade Continuation Screenshot

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Target is upgraded to 149.219 lets see how it goes
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