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USD/JPY Discussion

  • #48,781
  • Oct 3, 2014 8:13am Oct 3, 2014 8:13am
Quoting sthobani
Apologies for my lack of knowledge could you explain what is fool play?
I just means that I think the short I entered may be a bit foolish considering the quick rise. Its not a good idea to just go the opposite of such a strong move without a valid reason. Foolish actually. But trading is about taking some risk so I'l take this one because the 4 hour chart looks weak.
  • #48,782
  • Oct 3, 2014 8:17am Oct 3, 2014 8:17am
well nfp shows good employment data and unemployment rate dropped below feds target rate of 6.0%... this is good news for that rate hike... since both of these are important to the fed... great for the dollar!

thank you everyone btw for your wishes
  • #48,783
  • Oct 3, 2014 8:21am Oct 3, 2014 8:21am
Quoting Trendzalore
{quote} I just means that I think the short I entered may be a bit foolish considering the quick rise. Its not a good idea to just go the opposite of such a strong move without a valid reason. Foolish actually. But trading is about taking some risk so I'l take this one because the 4 hour chart looks weak.
And within minutes looks like foolishness has been confirmed. . Still some hope but if it passes 109.65 im toast most likely.
  • #48,784
  • Oct 3, 2014 8:30am Oct 3, 2014 8:30am
Quoting Trendzalore
{quote} And within minutes looks like foolishness has been confirmed. . Still some hope but if it passes 109.65 im toast most likely.
Hold tight for now, there are some more numbers in half an hour.

However I have just been looking at the weekly chart and if 110 breaks I can see 111.40 as a likely target.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #48,785
  • Oct 3, 2014 8:35am Oct 3, 2014 8:35am
Quoting Exodus
{quote} Hold tight for now, there are some more numbers in half an hour. However I have just been looking at the weekly chart and if 110 breaks I can see 111.40 as a likely target.
Agreed.

109.65 may hold, if it does then my stop is safe at 109.75 though I think its a bit too close. My target remains 108.8 area but I will watch for momentum and adjust down if necessary. 4hr still looks weak to me but it could change quickly with the current information.
  • #48,786
  • Oct 3, 2014 8:37am Oct 3, 2014 8:37am
to me the Trend is still firmly UP...please see my Weekly chart of USDJPY pair.
i'm long this pair for several weeks now, and will buy until the Trend-according to my interpretation- is changing.

EDIT:: there is a Major Round Number just above price which may or may not stall/reverse price.
... see the Red Dotted Line on my chart.

Attached Image
  • #48,787
  • Oct 3, 2014 9:01am Oct 3, 2014 9:01am
Stopped out. Sidelines for me, drinks and a good weekend.
  • #48,788
  • Oct 3, 2014 9:20am Oct 3, 2014 9:20am
Ok after my backside was deep fried and handed out to me on beautiful piece of cutlery, I am happy to say I am back in the game. In various longs starting from just before the 8.30 release. Intend to hold, this time (hopefully) for the long run. The drop was simply stop hunting on the pretext of bad news. Nothing has changed. Onwards to 112.
The price will go where it has to go.
  • #48,789
  • Oct 3, 2014 9:55am Oct 3, 2014 9:55am
Quoting mitrapips
Ok after my backside was deep fried and handed out to me on beautiful piece of cutlery, I am happy to say I am back in the game. In various longs starting from just before the 8.30 release. Intend to hold, this time (hopefully) for the long run. The drop was simply stop hunting on the pretext of bad news. Nothing has changed. Onwards to 112.
broke even on my big 2 lots, (closed it out) .. and still going on my other 1 from 108.3, which ill probably leave open.. good stuff
thank God for patience,

  • #48,790
  • Oct 3, 2014 10:07am Oct 3, 2014 10:07am
Quoting Liam0530
{quote} broke even on my big 2 lots, (closed it out) .. and still going on my other 1 from 108.3, which ill probably leave open.. good stuff thank God for patience,
I wasn't as lucky. Sold at the worst place possible because of margin and really confusing pa. Hats off to you
The price will go where it has to go.
  • #48,791
  • Oct 3, 2014 10:13am Oct 3, 2014 10:13am
Quoting mitrapips
Ok after my backside was deep fried and handed out to me on beautiful piece of cutlery, I am happy to say I am back in the game. In various longs starting from just before the 8.30 release. Intend to hold, this time (hopefully) for the long run. The drop was simply stop hunting on the pretext of bad news. Nothing has changed. Onwards to 112.
It's confusing though especially after an article posted here this week that at 110 the weak yen is hurting Japanese consumers and may start to undermine seriously Abe's strategy. Meanwhile a stronger dollar is also not entirely favorable for US. The CBs all still seem to be in a race to the bottom. Anyway 110 is a strong resistance at least for the moment!
Enter Signature
  • #48,792
  • Oct 3, 2014 10:44am Oct 3, 2014 10:44am
Retail traders shorting it like crazy!
The price will go where it has to go.
  • #48,793
  • Oct 3, 2014 11:20am Oct 3, 2014 11:20am
Quoting mitrapips
Retail traders shorting it like crazy!
Follow the herd and get slaughtered. This horse ain't going anywhere but up...in my opinion
  • #48,794
  • Oct 3, 2014 4:14pm Oct 3, 2014 4:14pm
Quoting Spezial
{quote} Follow the herd and get slaughtered. This horse ain't going anywhere but up...in my opinion
Great weekly outside bar close
  • #48,795
  • Oct 3, 2014 4:27pm Oct 3, 2014 4:27pm
Quoting mitrapips
Retail traders shorting it like crazy!

Gidday Mit

I held on to longs

to 110.5 nest of the f&&&kers

ready to explode on a we burst

Still in a we short from the high

which I like to keep.

A good thing with this pair,its very cheap to trade

Was a bit worried as I tend to stack a forest of trades in the direction

which was showing signs off 110+

Then decided to take a dump,which it still may do.

See green take it fast in this pair
  • #48,796
  • Oct 3, 2014 4:50pm Oct 3, 2014 4:50pm
Quoting eliteincome
Gidday Mit I held on to longs to 110.5 nest of the f&&&kers ready to explode on a we burst Still in a we short from the high which I like to keep. A good thing with this pair,its very cheap to trade Was a bit worried as I tend to stack a forest of trades in the direction which was showing signs off 110+ Then decided to take a dump,which it still may do. See green take it fast in this pair
Yeah, U/J just did one of those strong "V"-shaped reversal patterns on 4H, meaning it will very easily break 110 next week and probably much more.
Please check out my blog at https://from-zero-to-hero . net
  • #48,797
  • Oct 3, 2014 8:28pm Oct 3, 2014 8:28pm
Quoting eliteincome
{quote} A good thing with this pair,its very cheap to trade Was a bit worried as I tend to stack a forest of trades in the direction which was showing signs off 110+ See green take it fast in this pair
Likewise bro. good luck to ya.
The price will go where it has to go.
  • #48,798
  • Oct 4, 2014 2:37am Oct 4, 2014 2:37am
TP - 112.25 this year
  • #48,799
  • Oct 4, 2014 2:44am Oct 4, 2014 2:44am
Quoting Spezial
{quote} Follow the herd and get slaughtered. This horse ain't going anywhere but up...in my opinion
Would you consider yourself not part of the herd? Good trading stats so far though. Keep it up!
A 1 pip gain is better than a 1 pip loss.
  • #48,800
  • Oct 4, 2014 3:36am Oct 4, 2014 3:36am
Quoting aeternum
{quote} Would you consider yourself not part of the herd? Good trading stats so far though. Keep it up!
I've no idea, I just assume the herd mentality is often/always wrong, like they would be selling when really they should be buying. etc

And thanks, I intend to
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