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USD/JPY Discussion

  • #50,361
  • Nov 16, 2014 11:27pm Nov 16, 2014 11:27pm
Gidday Traders

Back to the screen

an missed the 117

targets set to high

Way to greedy

an missed the short

Some longs taking diving lessons

went long again.
  • #50,362
  • Nov 16, 2014 11:31pm Nov 16, 2014 11:31pm
Quoting forex_fairy
{quote} Well will it go up or down then how can you choose both? What if it stays there? DUH!!!
I can guarantee price will go up or down, because it will always go up or down. It won't stay in one place. It never does. If you watch the price you will find that to be true.
  • #50,363
  • Nov 16, 2014 11:39pm Nov 16, 2014 11:39pm
Quoting forex_fairy
{quote} Of course it is. You don't actually learn anything at all. It's mostly punters that use some logic mostly by drawing lines that they call resistance, support levels, fib lvls and all that jazz then maybe 1 or 2 will post that they lost but they are usually in the minority. You will get mostly those that would be bragging oh i made x number of pips even had one guy post a screen shot of his trades in progress all in the green because he wouldn't be posting if they were in the red and even his total account size in monetary value was shown....
What exactly are you expecting to get out of your FF experience? Maybe you should get your money back. You don't seem satisfied.

That was a joke. I didn't mean any offense. But seriously, if you need to learn how to trade, then you should get some paid training. FF is not the place to come and try to learn how to trade, since, as you point out, you really don't know who is successful and who is not.

But as far as people bragging about their accomplishments, that's what (edit: some) people do. Just ignore it.
  • #50,364
  • Edited Nov 17, 2014 12:16am Nov 16, 2014 11:52pm | Edited Nov 17, 2014 12:16am
Targeting 116.37 on this bullish bounce. From there, probably look to short it back down to 115ish area. Then wait for a bullish reversal to go after 117 area again.

Of course, if at any time a bearish/bullish reversal pattern shows up, would go in whatever direction that points...

SL is 116.41, so we'll see what happens...

Edit:changed target to 116.64 due to reversal pattern on M15
  • #50,365
  • Nov 17, 2014 12:04am Nov 17, 2014 12:04am
i took a short at 116.36, s/l at 116.78, t/p 114.56
  • #50,366
  • Nov 17, 2014 12:09am Nov 17, 2014 12:09am
Quoting abokwaik
I suggest Shorting at these levels (or higher when possible), targeting the un-filled GAP around 112.50. Start with small volumes and add on the way down. Notice the Bearish Divergence on the Daily. Daily Chart: {image}
No Comment !

Attached Image (click to enlarge)
Click to Enlarge Name: USD_JPY_Oct17.JPG Size: 251 KB
No guts, no glory
  • #50,367
  • Nov 17, 2014 12:10am Nov 17, 2014 12:10am
Quoting PoundTrader
i took a short at 116.36, s/l at 116.78, t/p 114.56
Interesting. It is very possible that we will both be right

But you are making me wonder if I should target a little more on this bullish bounce first
  • #50,368
  • Nov 17, 2014 12:16am Nov 17, 2014 12:16am
Gidday Yen Masters

I missed the short

Better suck it up like a real trader

Better find my nut clamps

Teach me for over loading up the YEN bus

50/50 trading at these levels
Attached Image
  • #50,369
  • Nov 17, 2014 12:19am Nov 17, 2014 12:19am
Quoting benaiah
{quote} Interesting. It is very possible that we will both be right But you are making me wonder if I should target a little more on this bullish bounce first
GOOD point. Also waiting 116.3 level. currently long from 115.7
BlackHands
  • #50,370
  • Nov 17, 2014 12:20am Nov 17, 2014 12:20am
Quoting benaiah
{quote} Interesting. It is very possible that we will both be right But you are making me wonder if I should target a little more on this bullish bounce first
i just seen your post, lets see what happens
  • #50,371
  • Nov 17, 2014 12:28am Nov 17, 2014 12:28am
Quoting kaka310602
{quote} GOOD point. Also waiting 116.3 level. currently long from 115.7
Yep, and the M15 chart showed a nice little reversal pattern that gave me some confidence. Then, looking at H1 chart, I'm thinking we should see price retrace about half way up that bearish engulfing bar that kicked off this pull-back, so I put my TP at 116.64...

Plus, if price did go up that far, and turned back down, it would show a nice H&H pattern to short down to 115.

Wish I could stay up all night and watch, but will need to get some rest soon...
  • #50,372
  • Nov 17, 2014 12:35am Nov 17, 2014 12:35am
drop from here is extremely bearish 15 min pattern.
Build good relationships with others.
  • #50,373
  • Nov 17, 2014 12:43am Nov 17, 2014 12:43am
Quoting shellsnail
drop from here is extremely bearish 15 min pattern.
Was thinking the same, on the 1hr too
  • #50,374
  • Nov 17, 2014 12:52am Nov 17, 2014 12:52am
Quoting fxtradeabi
{quote} Was thinking the same, on the 1hr too
Price is very heavy... no break-out momentum...
Build good relationships with others.
  • #50,375
  • Nov 17, 2014 1:57am Nov 17, 2014 1:57am
Quoting benaiah
{quote} Interesting. It is very possible that we will both be right But you are making me wonder if I should target a little more on this bullish bounce first
  • #50,376
  • Nov 17, 2014 2:26am Nov 17, 2014 2:26am
Well this thread went quiet quickly...
  • #50,377
  • Nov 17, 2014 3:07am Nov 17, 2014 3:07am
Quoting abokwaik
{quote} No Comment ! {image}
You are using Windows XP!!!
  • #50,378
  • Nov 17, 2014 3:19am Nov 17, 2014 3:19am
Lets see about a close over 116
  • #50,379
  • Nov 17, 2014 3:21am Nov 17, 2014 3:21am
Quoting Yudi1354
{quote} You are using Windows XP!!!
On this computer, Yes. But Why ?
No guts, no glory
  • #50,380
  • Edited 4:36am Nov 17, 2014 4:02am | Edited 4:36am
Quoting AussieTones
Hi, I am quite new to this, so could anyone tell me why it retraced so much after the bad news from Japan. Shouldn't it of kept going Long after a minor retrace?
Big money repositions itself all the time. My guess is the Nikkei fell (or was expected to) on bad news. This gives currency strength but only because shares are liquidated into cash, effectively buying Yen. I don't care and if you were to find out why it happened, it would still be of no use for the future, other than, maybe, experience. Follow the weekly and monthly trend. Do anything you can to get into low leverage positions on any pull backs. Get your stop losses close so that you lose small when you are wrong. Keep trying to get in long and hold. I'm holding longs from 106 - 107 by doing that and will continue to add. Of course, I could be wrong.
Gone to a better place
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