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USD/JPY Discussion

  • #35,161
  • Jul 16, 2013 11:01am Jul 16, 2013 11:01am
Quoting domino
{quote} I wanna say the buying in here is building stops under the 22 region to power the move through the support zone that when last touched traded with low volume.. thats why all the compression i suppose .. in that case break should come soon and hopefully with power as those sell limits push price down if price doesnt move soon tho the only option ill have left is seppuku to kill the boredom

closed all

to the next
Don't give up
  • #35,162
  • Jul 16, 2013 11:37am Jul 16, 2013 11:37am
Quoting domino
{quote} I wanna say the buying in here is building stops under the 22 region to power the move through the support zone that when last touched traded with low volume.. thats why all the compression i suppose .. in that case break should come soon and hopefully with power as those sell limits push price down if price doesnt move soon tho the only option ill have left is seppuku to kill the boredom
broken lets see where we go
  • #35,163
  • Jul 16, 2013 12:18pm Jul 16, 2013 12:18pm
entered long with tight SL
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  • #35,164
  • Jul 16, 2013 5:42pm Jul 16, 2013 5:42pm
taking a stab at a long here...since we are at the bottom of the wedge...target is the top of wedge
  • #35,165
  • Jul 17, 2013 4:23am Jul 17, 2013 4:23am
Should be interesting what the price action will be around this trend line
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  • #35,166
  • Jul 17, 2013 8:26am Jul 17, 2013 8:26am
looks like we have a deathroll on the daily and strong resistance
  • #35,167
  • Jul 17, 2013 9:23am Jul 17, 2013 9:23am
I made good pips following the D1 trend on Monday, but since then I believe that US data and Bernanke have been so hit and miss that technical analysis is not enough for the moment. I'm going to take vacation for the rest of the week, unless we crack 100.00 again and then I'll be back on the desk!
  • #35,168
  • Jul 17, 2013 10:34am Jul 17, 2013 10:34am
What's now?

I have open positions at 99,09. Can I go sleep with the opened position or is it better to close it? I mean I'm confident that in two weeks uj will touch again 104...but will it happen before retracing again? It seems that the market is still very liquid and I am not happy on watching the cross dancing around 99.68...
  • #35,169
  • Jul 17, 2013 10:53am Jul 17, 2013 10:53am
Quoting apfrezza
What's now? I have open positions at 99,09. Can I go sleep with the opened position or is it better to close it? I mean I'm confident that in two weeks uj will touch again 104...but will it happen before retracing again? It seems that the market is still very liquid and I am not happy on watching the cross dancing around 99.68...
For all it's worth, Most of my losing trades is when I'm sleeping. Waking up to a loss... sucks. Even if it is a retrace. You can always wait for another opportunity (so many actually).

I personally would not sleep on trades, unless it's a very small trade and the risk is so low.

My 2 cents.
insanity: Doing the same thing over... and expecting different results -AE
  • #35,170
  • Jul 17, 2013 12:16pm Jul 17, 2013 12:16pm
Now it seems usdjpy is going back south...I will be really more than angry if will close under 99,09!!!
  • #35,171
  • Edited 6:25pm Jul 17, 2013 6:02pm | Edited 6:25pm
Waiting for a breakout signal
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A trade should be based on an assumption based on facts
  • #35,172
  • Jul 17, 2013 7:01pm Jul 17, 2013 7:01pm
yeah...waiting for that wedge to break too

thought benny was going to do it...but nothing happen

benny will get another chance tomorrow...let's see what happen
  • #35,173
  • Jul 17, 2013 7:31pm Jul 17, 2013 7:31pm
Thoughts anyone?
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A trade should be based on an assumption based on facts
  • #35,174
  • Jul 17, 2013 11:29pm Jul 17, 2013 11:29pm
Sold a big one at 100. Had enough with this fool after I scalped at 99.7 and it shot up to 100.

TP 97.656.
A 1 pip gain is better than a 1 pip loss.
  • #35,175
  • Jul 17, 2013 11:39pm Jul 17, 2013 11:39pm
bull trap?
  • #35,176
  • Jul 17, 2013 11:53pm Jul 17, 2013 11:53pm
There is a rising channel, although the top has already been hit. It kinda looks like a head and shoulders too.

But I've read somewhere that strong trends will retrace to 38.2 and continue and this is indeed what it has done so far.

It could either spring on higher or we could see 50 - 61.8 retracement.
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Click to Enlarge Name: USDJPY 18 July 2013 Daily.png Size: 81 KB
A 1 pip gain is better than a 1 pip loss.
  • #35,177
  • Jul 18, 2013 3:03am Jul 18, 2013 3:03am
Quoting aeternum
There is a rising channel, although the top has already been hit. It kinda looks like a head and shoulders too. But I've read somewhere that strong trends will retrace to 38.2 and continue and this is indeed what it has done so far. It could either spring on higher or we could see 50 - 61.8 retracement. {image}
4H Bullish Divergence from yesterday brought it past 100 so far. I'm trying a new way to trade by getting rid of my faster Stochastic for %R.
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Click to Enlarge Name: USDJPY 18 July 2013 4H Bullish Divergence.png Size: 84 KB
A 1 pip gain is better than a 1 pip loss.
  • #35,178
  • Jul 18, 2013 3:21am Jul 18, 2013 3:21am
Quoting aeternum
{quote} 4H Bullish Divergence from yesterday brought it past 100 so far. I'm trying a new way to trade by getting rid of my faster Stochastic for %R. {image}
The 1H pin bar allowed USDJPY to drop. Honestly, how far will it go
A 1 pip gain is better than a 1 pip loss.
  • #35,179
  • Jul 18, 2013 8:33am Jul 18, 2013 8:33am
So will BB talk the dollar up or down today? There is a definite trend of reducing claims for unemployment, and that may bolster belief that tapering will start sooner...
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #35,180
  • Edited 9:22am Jul 18, 2013 9:12am | Edited 9:22am
1H Bearish Divergence appearing on both my Stochastics and %R. Perhaps we go down?
A 1 pip gain is better than a 1 pip loss.
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