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USD/JPY Discussion

  • #48,581
  • Sep 30, 2014 9:14am Sep 30, 2014 9:14am
sell-off on worst than expected consumer confidence was nicely absorbed

looking on 5m
  • #48,582
  • Sep 30, 2014 10:00am Sep 30, 2014 10:00am
Quoting Dead.Boy
sell-off on worst than expected consumer confidence was nicely absorbed looking on 5m
It's probably going to test the 109.2 margin in the hours to come. The consumer confidence results aren't THAT important enough to warrant an extreme sell off given that we've already had the pair drop almost to oversold levels just prior to the announcement, so it'll be a steady decline for the time being. The RSI levels rarely retain a dip below 30 for an extended period unless something extremely big happens (such as a coincide of bearish momentum and one bearish news report after another). I can't imagine the bulls managing to try and test the 109.9/110 mark right now, given 3 consecutive bad reports for the USD (one minor, one medium, one important). If it does happen, then I'll have to take a few hits.

Still bullish on the USD/JPY even in the day-by-day short term, but I'll sit back and watch once we hit 110-110.6. Right now, Just waiting the prices to drop to reload.
  • #48,583
  • Sep 30, 2014 10:19am Sep 30, 2014 10:19am
Quoting Vermillion
{quote} It's probably going to test the 109.2 margin in the hours to come.
don't see that deep atm

instead, have a down-busted double bottom bull flag (can be wedge bottom, but with trapped bears) and 3 pushes down / climaxes on last drop from bull's extreme

at the end, 2 leg up

ps. seems uj is in range 50-85
  • #48,584
  • Sep 30, 2014 10:26am Sep 30, 2014 10:26am
pps. must work on my patience, closed long with +3 before price rocketed above my target, where i can get 3X

lack of understanding of my patterns

must keep working
  • #48,585
  • Sep 30, 2014 10:29am Sep 30, 2014 10:29am
79 on the head, sl below 64

prob - around 60%
  • #48,586
  • Sep 30, 2014 10:47am Sep 30, 2014 10:47am
Forex is not as predictable as we often like to think it is. Sometimes it is wise to just take a position, sit back, relax and watch how it unfolds. Don't get caught in the assumed predictability. Go long, go strong and watch our for reversals across all time frames.
The price will go where it has to go.
  • #48,587
  • Sep 30, 2014 11:56am Sep 30, 2014 11:56am
Quoting Dead.Boy
{quote} don't see that deep atm instead, have a down-busted double bottom bull flag (can be wedge bottom, but with trapped bears) and 3 pushes down / climaxes on last drop from bull's extreme at the end, 2 leg up ps. seems uj is in range 50-85
agreed 109.50 to 109.85 for 2 days now is my best call. NFP will take it to 110 or 108
  • #48,588
  • Sep 30, 2014 12:07pm Sep 30, 2014 12:07pm
Quoting giveachance
{quote} agreed 109.50 to 109.85 for 2 days now is my best call. NFP will take it to 110 or 108
111 and 107
  • #48,589
  • Sep 30, 2014 12:56pm Sep 30, 2014 12:56pm
Quoting mitrapips
Forex is not as predictable as we often like to think it is. Sometimes it is wise to just take a position, sit back, relax and watch how it unfolds. Don't get caught in the assumed predictability. Go long, go strong and watch our for reversals across all time frames.
touche... scalping is a motherf... catch you with your pants down lol
  • #48,590
  • Sep 30, 2014 1:06pm Sep 30, 2014 1:06pm
Quoting mitrapips
Forex is not as predictable as we often like to think it is. Sometimes it is wise to just take a position, sit back, relax and watch how it unfolds. Don't get caught in the assumed predictability. Go long, go strong and watch our for reversals across all time frames.
Quoting Liam0530
{quote} touche... scalping is a motherf... catch you with your pants down lol
can catch some nice 1:1 R:R momentum trades with scalp, though too many positions in a day especially at the start can lead to "open window of last floor"
  • #48,591
  • Sep 30, 2014 1:15pm Sep 30, 2014 1:15pm
Quoting Fx-gtg
{quote} 111 and 107
Positive call m8 GL
Heed the lessons of failure.
  • #48,592
  • Sep 30, 2014 1:30pm Sep 30, 2014 1:30pm
Quoting Liam0530
{quote} touche... scalping is a motherf... catch you with your pants down lol
Yah, I have been naked many a times like that. It is hard to resist that rush of adrenalin you get by scalping a few pips here, a few there. After sufficient losses, the winners learn eventually.
The price will go where it has to go.
  • #48,593
  • Sep 30, 2014 2:58pm Sep 30, 2014 2:58pm
I scalped for about 60 pips last night! Baaam! It does work
Please check out my blog at https://from-zero-to-hero . net
  • #48,594
  • Sep 30, 2014 3:03pm Sep 30, 2014 3:03pm
Quoting smash1820
I scalped for about 60 pips last night! Baaam! It does work
Good for you. It feels great when it does.
The price will go where it has to go.
  • #48,595
  • Sep 30, 2014 3:28pm Sep 30, 2014 3:28pm
Quoting Exodus
{quote} Sorry, got distracted by being the wrong way in a Cable trade.... Here it is, times are UK BST {image}
Ah I knew it. It's a low-impact news item. I got it filtered out. Well, seeing how little the pair moved to that news. I guess FF categorized it right as "low impact".

Thanks Exo. Good trading!
Make your losses in demo. Earn your profits live.
  • #48,596
  • Sep 30, 2014 4:17pm Sep 30, 2014 4:17pm
A break of 109.49 should open for a rally to 109.75 and next to 110.
  • #48,597
  • Sep 30, 2014 5:16pm Sep 30, 2014 5:16pm
opened a 2 lot short term buy last night at 109.32 . took profit on it at 109.68 ... now just waiting for a pullback MAYBE to the 350 area to reload for a nice long one.. lets see what happens

NFP can determine alot tom morning i think ......
  • #48,598
  • Sep 30, 2014 8:38pm Sep 30, 2014 8:38pm
... gonna break 110 now with ease ...
Please check out my blog at https://from-zero-to-hero . net
  • #48,599
  • Sep 30, 2014 8:45pm Sep 30, 2014 8:45pm
Quoting smash1820
... gonna break 110 now with ease ...

  • #48,600
  • Sep 30, 2014 9:19pm Sep 30, 2014 9:19pm
110!!!
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