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USD/JPY Discussion

  • #39,121
  • Nov 8, 2013 12:09pm Nov 8, 2013 12:09pm
Quoting stylinex
This market is so rigged lol.. You can feel the strings being pulled like as if they were on a YoYo
It's not rigged. Uj should be much higher than where it currently is. To many people with poor entries and even worse stops and then a shit load of panic. Uj will continue its uptrend and leave all this choppy trade behind along with the people that got burnt and the people who don't know what they're doing.
"A true speculator tries the market small." - Jesse Livermore
  • #39,122
  • Nov 8, 2013 12:13pm Nov 8, 2013 12:13pm
Ben speaks a few minutes before markets close. No clue if that will affect anything today. Mighty have to wait out Monday
  • #39,123
  • Nov 8, 2013 12:29pm Nov 8, 2013 12:29pm
Strong Bull Market. We must see upper gap open next week.
Attached Image (click to enlarge)
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  • #39,124
  • Nov 8, 2013 12:56pm Nov 8, 2013 12:56pm
Quoting kweiss10
Ben speaks a few minutes before markets close. No clue if that will affect anything today. Mighty have to wait out Monday
many pairs are out of their least square channel… this imply that there must be a retracement/correction… Piece of cake for Mr Ben
The good thing with the future is that it is progressively approaching...
  • #39,125
  • Nov 8, 2013 1:19pm Nov 8, 2013 1:19pm
rejoice bulls it's not dropping not like yesterday, but it's not rising either. This is going to be a slow slow movement upwards to 100 if it ever occurs. Close of the week is coming very soon and you know during these gaps anything happens and i am inclined to think it's going to gap downwards cos all along bullish movements take so long to occur but bearish movements occur so quickly and most of the time. So yes bullish movement will occur eventually but you could try building the great wall while it happens.
  • #39,126
  • Nov 8, 2013 2:00pm Nov 8, 2013 2:00pm
Quoting forex_fairy
rejoice bulls it's not dropping not like yesterday, but it's not rising either. This is going to be a slow slow movement upwards to 100 if it ever occurs. Close of the week is coming very soon and you know during these gaps anything happens and i am inclined to think it's going to gap downwards cos all along bullish movements take so long to occur but bearish movements occur so quickly and most of the time. So yes bullish movement will occur eventually but you could try building the great wall while it happens.
it's a shake off before a big movement. This a money game like a gamble.

1 hour chart
Attached Image (click to enlarge)
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  • #39,127
  • Nov 8, 2013 3:16pm Nov 8, 2013 3:16pm
so whats up? did bernie say anything worthwhile?
  • #39,128
  • Nov 8, 2013 4:03pm Nov 8, 2013 4:03pm
well it's ended above the 99 at least.
  • #39,129
  • Nov 8, 2013 4:26pm Nov 8, 2013 4:26pm
Quoting sanacasta
{quote} it's a shake off before a big movement. This a money game like a gamble. 1 hour chart {image}
took big numbers to push up and big numbers to push back down again. Those are not the average investor numbers. More like an invisible hand behind the scenes.
  • #39,130
  • Nov 8, 2013 6:31pm Nov 8, 2013 6:31pm
Quoting stylinex
{quote} took big numbers to push up and big numbers to push back down again. Those are not the average investor numbers. More like an invisible hand behind the scenes.
After Thursday's incident, I will not consider this something difficult to do...
  • #39,131
  • Nov 8, 2013 9:24pm Nov 8, 2013 9:24pm
Wondering where will the open gap heading later on monday. Hmmm...
  • #39,132
  • Nov 9, 2013 5:13am Nov 9, 2013 5:13am
Quoting mademoiselle
Wondering where will the open gap heading later on monday. Hmmm...

Willing to bet downwards. Movement maybe 20 pips below 99 around 98.8 area. Reason is if you check the last hourly candle it's a bearish black one and if you notice the candles always open in the direction where the last candle closed. The daily candle on friday is a huge bullish one starting from around 98 and ending above 99 so the opening daily candle on monday wouldn't shoot below the friday one so i am willing to bet it would go below 99 opening at 98.8 shoot downwards around the 98.5 region and range there, then when the UK and US markets open especially the US market time it will shoot upwards towards the 99 but if it touches the 99.2 region it won't go higher but drop down. Since the end of september bearish movements have been stronger than the bullish ones and the 99 region has been rarely touched
  • #39,133
  • Nov 9, 2013 5:29am Nov 9, 2013 5:29am
This is going to break through 100 strongly and not look back. Both JPY and USD are in 3rd waves.

initial target: 109.
Build good relationships with others.
  • #39,134
  • Nov 9, 2013 5:50am Nov 9, 2013 5:50am
Quoting IBBinary
i like your style. Stops set to BE going into news
Hehe, thx. Its actually not only about those news (I just beertrade news), but it is part of my whole silly trading plan. Am trying to leverage UJ up to 40:1 somwhere in zone below 98,8 and ride to 104. But the problem is, if I want to load such a leverage and aim for such a long term target, SL would be too expensive, so am just always loading on intraday/intraweek retracements and always setting at BE, waiting for final break. In the result I am loading this position for like three weeks and always get kicked out at BE, till we finally break and then I laugh. May be stupid, dunno , I just like it. Anyway, it is kind of heavy mental pressure to be constantly loosing huge floatings, as right now, I wasnt able to trade properly on Friday and closed trades too early as brain wasnt working after such a week and I was expecting correction down. Wonder where we gap on Monday.
T
"I know one thing, that I know nothing." Sokrates
  • #39,135
  • Nov 9, 2013 9:06am Nov 9, 2013 9:06am
just put a pending order long&short in last sup&res +7 pips in long&-7pips in short few minutes before news..and BOOOOMMM no matter where the market is going your profit its growth like a crazyyy,,thats how to kick the market ASS..
  • #39,136
  • Nov 9, 2013 12:50pm Nov 9, 2013 12:50pm
Quoting Tom_D_Trader
{quote} Hehe, thx. Its actually not only about those news (I just beertrade news), but it is part of my whole silly trading plan. Am trying to leverage UJ up to 40:1 somwhere in zone below 98,8 and ride to 104. But the problem is, if I want to load such a leverage and aim for such a long term target, SL would be too expensive, so am just always loading on intraday/intraweek retracements and always setting at BE, waiting for final break. In the result I am loading this position for like three weeks and always get kicked out at BE, till we finally...
My tp levels Im watching are 106 and then 110. There are several layers of resistance along the way and what I like to do is get a buffer of about 100 pips. I add on the pull back and have profit to spare just to be safe. That way if it continues to go lower my profit might be zeroed out but I don't incur huge losses while looking for a great trade.
"A true speculator tries the market small." - Jesse Livermore
  • #39,137
  • Nov 10, 2013 4:41am Nov 10, 2013 4:41am
Because the DXY is trading in the ceiling of the upper channel (the same with usdjpy) in the next week I am expecting a correction to 98.6 at least ...
Attached Image (click to enlarge)
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The good thing with the future is that it is progressively approaching...
  • #39,138
  • Nov 10, 2013 6:20am Nov 10, 2013 6:20am
expecting nothing/everything. the market is full of surprises, the only thing i can do is to leave the buy orders open so it will end in big profit or small loss. fundamentally speaking tightening in usa is behind the corner and boj is just warming up. ok, in usa there are more rumors about tightening than some action but japan doesn't have even that. us10y notes rejected from previous support now resistance at 128 and bearish daily candle from friday points to more lower levels in the following week - good for usdjpy. if mr.market doesn't have any nasty surprises for uj bulls, there comes the profit .
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #39,139
  • Nov 10, 2013 8:08am Nov 10, 2013 8:08am
I still see a correction for the USD / JPY, it will have to adjust prices at: support at 98.600 while waiting for the decision of Fed Chairman Bernanke on Thursday to 11/14/2013
following chart shows that:
Attached Image
  • #39,140
  • Nov 10, 2013 9:07am Nov 10, 2013 9:07am
Hi Traders, here is all possible wave counts you need to know for USDJPY pair!
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYElliottWave.png Size: 158 KB


Enjoy,
-nd-
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