USD/JPY Discussion

Hi Smash, I am fine thanks, I hope your poker went Ok.....

It is not a strange hour for me, I am in the UK, but if you are in Chicago I guess you are doing an all-nighter.

Had to go out and run around for a while, in the car that is, I have a gentle attitude to keeping fit.
Now that I'm back my additional UJ long which I opened this morning @ .55 seems to be delivering.
Which is good, I had a tough week last week....

double top on 1 hr.. short to 101.44.

On the 10 and 25 sma going up. Seeing the channel 101.97, next stop

looking to the same area, but for different reasons

I think that bears dont have more power.I'm reversing to short.

also long on a trendline strategy but im playing a lil safe and targeting a kiss on the 200sma @ .920

USDJPY showing clear signs of a break-down, but the same would be confirmed it breaks below the horizontal line support of the triangular pattern near 101.00-100.80.
USDJPY then could be vulnerable to continue drifting lower below 100.00 psychological mark.

Haresh, UJ appears to be locked into the weekly ichimoku cloud. Sometimes previous and external S/R matters in the cloud, but more often does not. It may make an attempt to leave the cloud at about 102 (and possibly get rejected down again), or may now sink towards cloud bottom at about 98 - which also happens to be the previous triangle apex area. FYI, triangle theory often expects a return to the apex, so 98 ish would make sense in that regard.

I know that Smash will scoff at such a suggestion.

It hit the .618 fib from the June '07 decline just about perfectly but only a dead cat bounce. Fed is wrapping things up while BoJ is just getting underway. I'm hoping to buy on a retracement after the consolidation breaks.

Malaysian airliner news sell-off?!

Just added fuel to the geopolitical tensions with Russia. Risk follows the Dow Jones like a puppy dog follows his master

My view is long. I have a critical trendline from the base of 2012 that hit the last point down recently. We are at that point again either break up or down from here, my opinion is up. Long @ 101.29 tight stop.

Close up view of those two recent points that are currently touching, and third point going back to 2012.

I see many folks are thinking long. I'm looking at the daily and weekly and thinking the support floor is going to be broken. How many times can you hammer on a support before it gives way?

Hahahaha Mpt, you know me well!!

I reject that argument wholeheartedly, but how are you, my friend?! Making them pips still on the beast?

As many as they want!!! Harrr harr harrr

Actually, I just looked up the definition for "scoff" and my intent is not to mock you, insult you, or make fun of you at all. I totally respect you here as a contributing FF member (heck, I subscribe to ya!). And if anything, I know your approach is like nothing I've traded before, so it's an interesting and different perspective. I would like to learn Ichimoku and Elliot Waves one day, and also sharpen my Fibonnaci, but from what I've experimented with those things, it seems ambiguous and tough to say the least and I would much rather trade with my MTF stochastics.

Anyways, I just like to challenge ur opinion dude.

I posted once and I was not trying to mock you, but just state that I thought it was funny you always seem to post "well, this might happen 50% of the time, and this might happen the other 50% of the time". No offense or anything (seriously, I don't mean any), because I understand that there are different ways of trading, and ultimately the only thing that matters is your P&L chart.

And I would still bet that yours is better than mine right now, whatever approach you're using

I'm an extremely aggressive trader and my style is big risks, all the time. Of course there are lots of losses in the process, but I know that it will be worth the effort once I make it all work out... and I know I am almost there.

Anyways, just wanted to make a friendly attempt to tell you that my goal is in no way to mock or make fun of you, I respect you as a trader and our differences as traders, like for example I consider myself almost 100% technical and I couldn't care less about the fundamentals (even though I have a degree in Economics... lol). You seem to be more into that stuff, or at least different technical stuff that I'm not into like Ichimoku, Fibs, Waves, etc., and although I'd like to learn it one day I question it's validity and ambiguity if that makes sense but especially compared to my approach which is simple MTF Stochs + ADX/DMI.

One reason that I remain interested in those (your) approaches though, is because I've heard a few stories of people just using Ichimoku, Fibs, and Waves, etc (like I said above) so remarkably well that they can pinpoint tops and bottoms to a 80%+ degree of accuracy months, or years, before they happen. Stories like The Fibonnaci Queen, if you've heard of her. I've heard of her, but that's it... I don't subscribe. But still, some remarkable stories which keeps me interested in the approach

Scoff, as in mildly laugh in a gentle manner whilst disagreeing.

I'm fine mate and all is well here.

Well then let me LOL still...

I'm glad to hear it, buddy!

I'm 400,000 long on yen @101.150. holding on for a long time on this one.
top hedge funds and major institutions or long on yen big time! dont forget this major point!