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USD/JPY Discussion

  • #87,461
  • Nov 5, 2023 10:38am Nov 5, 2023 10:38am
Quoting Tradder
…am n big trouble with usdjpy.It will be great if anyone can help me out.Thanx in advance. My RM opened a sell in 136 with lot size of 1.75.with no sL.am still holding it.now.Any suggestions for comming weeks….
136? My man... You are going to be in that trade until 2025. The Fed just kicked the rate decision down the pike, and is projected to do so for the foreseeable future. Some aren't expecting a cut until next September, and you would be paying swap fees the whole way unless you put your expiration out that far as well. Here is an ALL TIME monthly chart. Most MT4's don't have all this data, so I can understand how some might think bearishly. Notice how we bottomed. Then look at how we are currently past those first peaks at 144. What is next? I see 160 on mine. So IMO.. 160 is the next stop as it is the next MONTHLY S/R.
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Don't compare your trades to others. Most often the masses are the asses
  • #87,462
  • Nov 5, 2023 2:24pm Nov 5, 2023 2:24pm
USDJPY price action on the daily time frame made a bullish drive to the 150.00/152.00 horizontal resistance zone (purple) on Tuesday but bears pushed back. Presently, price action is disposed bearish and the technical impulse favours further southward move.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #87,463
  • Nov 5, 2023 4:20pm Nov 5, 2023 4:20pm
Quoting Tradder
…am n big trouble with usdjpy.It will be great if anyone can help me out.Thanx in advance. My RM opened a sell in 136 with lot size of 1.75.with no sL.am still holding it.now.Any suggestions for comming weeks….
Watch the following levels IMO

152.3 for bullish. If we close above that you may get another retest before we really go for it.

144.3 for Bearish. If we close below that we are possibly going sideways and you may have access to 127 through 137.5. Good Luck
Don't compare your trades to others. Most often the masses are the asses
  • #87,464
  • Nov 5, 2023 10:00pm Nov 5, 2023 10:00pm
Thanku so much for responding.Am basically new and Donno much in technical side.All these happened from my broker,now no help from their side and all on my shoulders.If I can contact you or any one in personal for more proper guidance,it will be very helpful.Please don’t feel bad or don’t take it any other way,I don’t have much options thatsy….
  • #87,465
  • Nov 8, 2023 1:38am Nov 8, 2023 1:38am
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  • #87,466
  • Nov 10, 2023 1:27am Nov 10, 2023 1:27am
Any updated strategy for UJ in small TF as 1H ?
  • #87,467
  • Nov 10, 2023 12:48pm Nov 10, 2023 12:48pm
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  • #87,468
  • Nov 12, 2023 2:54pm Nov 12, 2023 2:54pm
USDJPY price action on the H4 time frame is experiencing a decline in bullish momentum as it navigates the 150.00/152.00 multi-year horizontal resistance zone (purple) for a potential retest of the 152.00 psychological number. Technically, recent patterns of price action portend a southward correction, but we may still see further northward move. Personally, as a swing trader, I am not trading this pair until a directional breach of the 152.00 psychological number or its bearish rejection on a weekly closing basis.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #87,469
  • Nov 12, 2023 5:51pm Nov 12, 2023 5:51pm
Quoting Dimsum25
Any updated strategy for UJ in small TF as 1H ?
I limit my UJ trading to position, swing trading and scalping. Usually, I would trade more intraday, but UJ have been getting regularly above average spikes these last weeks. For me it's been better be in and out as fast as possible or holding for long-term, which has been most profitable, as my shares attest.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,470
  • Nov 12, 2023 5:53pm Nov 12, 2023 5:53pm
Quoting Tradder
…am n big trouble with usdjpy.It will be great if anyone can help me out.Thanx in advance. My RM opened a sell in 136 with lot size of 1.75.with no sL.am still holding it.now.Any suggestions for comming weeks….
Hello Tradder! May I ask what your holding of this short is based on exactly? Cheers !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,471
  • Nov 12, 2023 10:50pm Nov 12, 2023 10:50pm
Hi, I have hedged it .To be frank I don’t have much idea.May be, interest rate cut will bring it down….hoping .If u have any suggestions plz guide me…thanks
  • #87,472
  • Nov 12, 2023 10:58pm Nov 12, 2023 10:58pm
im just trading on the long side with trailing stops. nothing fancy just the basic trend is your friend idea.
  • #87,473
  • Nov 12, 2023 11:08pm Nov 12, 2023 11:08pm
Quoting mtako
{quote}Hello Tradder! May I ask what your holding of this short is based on exactly? Cheers !
Look what will happened when it reach previous high from october 2022! It will be sighnificant!
  • #87,474
  • Nov 12, 2023 11:16pm Nov 12, 2023 11:16pm
Do let us know when your order activates, or if you have a change of mind. We may want to key in and ride together.
Quoting bigiivan
{quote} Look what will happened when it reach previous high from october 2022! It will be sighnificant!
  • #87,475
  • Nov 12, 2023 11:18pm Nov 12, 2023 11:18pm
Quoting bigiivan
{quote} Look what will happened when it reach previous high from october 2022! It will be sighnificant!
Price did reach considerable lows since that high also, which gives weight to the idea that it is in the highs of an indecisive period, making it a good place to short.
But, it's back up there, and with force.
Many underestimated the power of this trend in 2021-22.
Many might be doing the same mistake again.
So I'm only trend trading with this baby !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,476
  • Nov 12, 2023 11:27pm Nov 12, 2023 11:27pm
Quoting Tradder
Hi, I have hedged it .To be frank I don’t have much idea.May be, interest rate cut will bring it down….hoping .If u have any suggestions plz guide me…thanks
If you don't know why you are holding it, then why are you holding it? Don't take it the wrong way. I myself constantly ask myself that question and I have developed the reflex to simply close when I do not know anymore or realize that I was not prepared enough. I go back to the drawing table.

Anyhow, hedging one position is just like closing it, so you have already gone through it. Well done. Now, I would ask myself : what could I do with those funds instead? Something that does not raise the question : what am I doing?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,477
  • Nov 12, 2023 11:54pm Nov 12, 2023 11:54pm
Quoting Maverick02
Do let us know when your order activates, or if you have a change of mind. We may want to key in and ride together. {quote}
I would sell at 151,39 but don't have free money. I am already short at EUR/JPY.
  • #87,478
  • Nov 12, 2023 11:58pm Nov 12, 2023 11:58pm
Quoting mtako
{quote}If you don't know why you are holding it, then why are you holding it? Don't take it the wrong way. I myself constantly ask myself that question and I have developed the reflex to simply close when I do not know anymore or realize that I was not prepared enough. I go back to the drawing table. Anyhow, hedging one position is just like closing it, so you have already gone through it. Well done. Now, I would ask myself : what could I do with those funds instead? Something that does not raise the question : what am I doing?
You know better, this is your money. Everybody say: the trend is your friend. I don't understand why is that, but whatever.
  • #87,479
  • Edited 12:31am Nov 13, 2023 12:02am | Edited 12:31am
I prepared accordingly by stopping my buying at 147:
Quoting mtako
..Finally, after so many months, an attack on the <147.0 action that started the 18xxpips correction of this oh so beautiful uptrend is a possibility this week ! Could mean it's top of ranging period, because of size and formation of the correction compared to said trend. Hence why my last buy stop is 147 and why I will no longer buy until momentum has regained satisfactory quality, that is, if it ever does before I exit my positions ! Also, this movement right here right now could be the resumption of the trend, and we know what kind of beast this one was and that it can still transform back into that steady hi-volatility monster ! So I sent some of my best taco's to the monster, trying to calm him down. Hoping that it will give us the time to properly prepare our trading plan Cheers all, and may your week be everything you wish for!!! {image}
From here need support above the century's high.

Almost there !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #87,480
  • Nov 13, 2023 12:06am Nov 13, 2023 12:06am
Quoting bigiivan
{quote} You know better, this is your money. Everybody say: the trend is your friend. I don't understand why is that, but whatever.
I personally do not have any preference for trend trading or countertrend. I do both happily. But both I treat very differently. Many ways to do both + ranging.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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