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USD/JPY Discussion 7 replies

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USD/JPY Discussion

Quoting Donadoney
Depends on your broker.
Just opened on mine...nice! Looking for 107 before I get out.
yea est doesn't get to play till 5
USD Est Non Mortuus
Bounced off previous session low of 108.43 Looking to retest now. If it breaks through I am looking at the daily S1 pivot of 108.30 as the next support.
It's only one snapshot of the market. The other time frames tell a different story.

For example last week was an inside bar. Daily tf has been making lower highs/lows etc etc.

Quoting hard1head1
I think this says it all.

J
I understand its going down, but it could keep this wave going for awhile as it heads on down.

Jim

Quoting fxprocessor
It's only one snapshot of the market. The other time frames tell a different story.

For example last week was an inside bar. Daily tf has been making lower highs/lows etc etc.
True, I see what you are saying now.

Quoting hard1head1
I understand its going down, but it could keep this wave going for awhile as it heads on down.

Jim
So now Id say maybe we fill the gap and head up to say circa 109.50 and then back down.

Quoting fxprocessor
True, I see what you are saying now.
Thats a cool 100 pips if it follows thru. Not a shabby start for a holiday.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 29 KB
but do you really think it will stay true to the channel and fill the gap to 109.25? On Friday it couldn't even break 108.80
Quoting seesaw
but do you really think it will stay true to the channel and fill the gap to 109.25? On Friday it couldn't even break 108.80
Well always keep in mind he could be right, but you are responsible for your actions in the end, his thoughts are rational, but so are yours...what decision are U going to make?
I have closed my shorts and will re-short if the gap is closed. Will add to short if the triangle is re-tested.

It could easily hit your target but thats my plan.

cheers
FXP

Quoting hard1head1
Thats a cool 100 pips if it follows thru. Not a shabby start for a holiday.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 16 KB
Good point, you should never place a trade just because someone says a channel may be followed. Wait for signals and usze your own judgement. Remember, these thing break out all the time and can at any time.

Jim

Quoting seesaw
but do you really think it will stay true to the channel and fill the gap to 109.25? On Friday it couldn't even break 108.80
Tweezer bottoms forming on the 15 Min TF
Quoting Donadoney
Well always keep in mind he could be right, but you are responsible for your actions in the end, his thoughts are rational, but so are yours...what decision are U going to make?
It is interesting...Sunday's price actions are never to be trusted tho, IMO
so, what now quick down?
Quoting hard1head1
Good point, you should never place a trade just because someone says a channel may be followed. Wait for signals and usze your own judgement. Remember, these thing break out all the time and can at any time.

Jim
Pay attention to Gustav and oil is at 116.65!
Quoting pepbullish
Attachment

Price 109.31

SL 110.81
Closed 108.21
Currently @ 108.33

Open Order:

Sell-limit @ 108.80 SL 109.17 TP 107.70
Quoting pepbullish
Closed 108.21
You're getting up there.. +175 now.

Wow, nicely done
"I spilled spot remover on my dog. He's gone now." - Steven Wright
UJ gapped down..will it be filled??

sonic
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