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USD/JPY Discussion

  • #16,221
  • Jun 4, 2010 12:18pm Jun 4, 2010 12:18pm
is this the signal for sell off?
  • #16,222
  • Jun 4, 2010 12:27pm Jun 4, 2010 12:27pm
Quoting Capital Gain
is this the signal for sell off?
no signals
When life gives you lemons, make lemonade
  • #16,223
  • Jun 4, 2010 12:30pm Jun 4, 2010 12:30pm
I was stopped out on my short for +30 pips..will look to re-enter but waiting now as I don't really see a solid signal atm.
  • #16,224
  • Jun 4, 2010 12:33pm Jun 4, 2010 12:33pm
this 4h close will be interesting on the gold chart
When life gives you lemons, make lemonade
  • #16,225
  • Jun 4, 2010 12:34pm Jun 4, 2010 12:34pm
Quoting micho
what is this Fibonacci that you have on the chart? which trend?
the very last swing down in the channel (range) on the daily chart and the uptrend channel on the weekly
Attached Images
  • #16,226
  • Jun 4, 2010 12:44pm Jun 4, 2010 12:44pm
Quoting TheArcher
the very last swing down in the channel (range) on the daily chart and the uptrend channel on the weekly
no man, this is the last fibo on the daily. u need to chose the most effective one. chose the trend with the black candles and good volume...
choosing the trend is 99% of the job
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When life gives you lemons, make lemonade
  • #16,227
  • Jun 4, 2010 12:45pm Jun 4, 2010 12:45pm
think it over in ur head, look at the candles and analyze how the trend started and where to be able to pick ur correct targets
When life gives you lemons, make lemonade
  • #16,228
  • Jun 4, 2010 12:47pm Jun 4, 2010 12:47pm
use candle sticks instead of the bars
When life gives you lemons, make lemonade
  • #16,229
  • Jun 4, 2010 12:59pm Jun 4, 2010 12:59pm
Quoting micho
i like to post everything here cause its a quiet thread...
Let's keep it to only USDJPY only. Improves focus . Reduces distraction.



Quoting micho

i will post my statement once i close the trade
would love see it !
  • #16,230
  • Jun 4, 2010 1:04pm Jun 4, 2010 1:04pm
Quoting micho
i like to post everything here cause its a quiet thread...

for my USDJPY trades, i hope to be able to close the two open shorts today or next week at 91.30 for a total loss of -290 for both.
this will break my month to a +1316-290= +1026 similar to last month

i will post my statement once i close the trade
Why not start a thread? I took ya off ignore..
  • #16,231
  • Edited 2:11pm Jun 4, 2010 1:05pm | Edited 2:11pm
Quoting micho
u need to chose the most effective one. chose the trend with the black candles and good volume...
choosing the trend is 99% of the job
u mean :

look for a long black daily candle with heavy volume and follow the retrace back to the range of that black candle ..100% at the open and 0% at the close ...?

IF today's candle closes like this .. is this how u would fibo ?
Attached Images
  • #16,232
  • Jun 4, 2010 1:15pm Jun 4, 2010 1:15pm
Quoting TheArcher
u mean :

look for a long black daily candle with heavy volume and follow the retrace back to the range of that black candle ..100% at the open and 0% at the close ...?
the candle doesnt need to be a giant candle, but if u chose a trend u need to chose full candles at the middle of the trend. if u see a full bear trend followed by another trend with long wicks relatively and then another 3rd full bear candle following them, u cant say its a trend because the candle with wicks ruined the flow of the price.

circles are good trends
squares are bad trends
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When life gives you lemons, make lemonade
  • #16,233
  • Jun 4, 2010 1:26pm Jun 4, 2010 1:26pm
i would play it as breakout with heavy volume , and resistance turned support

but from now on i will look out for what u have highlighted

once again , thank you very much for giving me another perspective

Attached Image
  • #16,234
  • Jun 4, 2010 1:29pm Jun 4, 2010 1:29pm
Quoting TheArcher
i would play it as breakout with heavy volume , and resistance turned support

but from now on i will look out for what u have highlighted

once again , thank you very much for giving me another perspective

breakout doesn't work
When life gives you lemons, make lemonade
  • #16,235
  • Jun 4, 2010 1:35pm Jun 4, 2010 1:35pm
Quoting micho
breakout doesn't work
why ?
  • #16,236
  • Jun 4, 2010 1:40pm Jun 4, 2010 1:40pm
Quoting TheArcher
why ?
because they are random and depend on luck
there is nothing scientifically natural about them just like trendlines, pitchfork, head and shoulders bla bla bla
are we drawing or trading
When life gives you lemons, make lemonade
  • #16,237
  • Jun 4, 2010 1:41pm Jun 4, 2010 1:41pm
Quoting micho
if u see a full bear trend followed by another trend with long wicks relatively and then another 3rd full bear candle following them, u cant say its a trend
yes it is not a trend .... its called range or consolidation
  • #16,238
  • Jun 4, 2010 1:49pm Jun 4, 2010 1:49pm
Quoting micho
because they are random and depend on luck
isn't it all about probability then ?


Quoting micho
there is nothing scientifically natural about them
how is candlestick scientific then ... how would i know if the next candle will finish as a doji or a spin top or a long black candle ?

Quoting micho
trendlines, pitchfork, head and shoulders bla bla bla
u mean we have been duped with garbage ? ... pains to learn that have lost 4 years learning garbage

Quoting micho
are we drawing or trading
i want to trade
  • #16,239
  • Jun 4, 2010 1:53pm Jun 4, 2010 1:53pm
Quoting micho

circles are good trends
squares are bad trends
short wicks are good trend ?
long wicks are bad trend ?

i don't understand .. how is one good trend and another bad trend ?
  • #16,240
  • Jun 4, 2010 1:54pm Jun 4, 2010 1:54pm
a long order i had was just triggered. i don't recommend following me on this one
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