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USD/JPY Discussion

  • #50,521
  • Nov 18, 2014 5:13pm Nov 18, 2014 5:13pm
Quoting JTattheRanch
{quote} Thats very much high risk, low reward. trying to make 30 pips when it's going to rise 100 over the next 2 days?
At roughly 10-20 bucks a pip I'm going to take it when the opportunity presents itself. I don't need shitload of pips going at $.50/pip before I make some chump change. Gl with your long though., I'll be napping then
  • #50,522
  • Nov 18, 2014 5:16pm Nov 18, 2014 5:16pm
Quoting poseikwame
well 117 just got hit again... au open and asia open with boj news should raise this babyyy!!
The logical question is who is buying at 117 levels? Everything should theoretically be priced in already what new news is possibly going to send this through obviously tough resistance at 117? I see profit taking and retail suckers who long at 116.8 levels getting stopped out then a rebound. If your not in short from around 117-116.90 with a tight stop looking for high R/R short it's best to stay out. Or of course long from 115.5 or lower.
  • #50,523
  • Nov 18, 2014 5:18pm Nov 18, 2014 5:18pm
Quoting benaiah
{quote} By the way, I respect your opinion and view of trading, as much as everyone else's. And I'm sure you realize some traders trade intra-day. There are a lot of opportunities in both directions to get 50-100 pips or more... Of course, I'd love to have jumped in long at some point in the distant past (as some traders have) and just keep adding to long positions, and several months later have a few thousand pips. But I just don't trade that way... And having said all of that, this is one thing we all have to keep in mind when viewing other's...

I've noticed over the last serveral years that more and more traders are influenced by these type readings on the internet. This wasn't the case 10 years ago of even 5 years ago. Now the market moves in HUGE SHARP movements with absolutely no retracements. Or if there is it's very rare. Used to be that the market would just wave along and go up a steady 1000 pips then down a 1000 pips. It's because everyone expects these retracements now, which is the exact reason why it doesn't and won't happen.
  • #50,524
  • Nov 18, 2014 5:19pm Nov 18, 2014 5:19pm
Quoting jayjb
{quote} Any idea when they will release the statement? Right when they open market?
Expect announcement around 2.30-3.30 gmt but could be before and after. Pressconf at 6.30 gmt
She is really a tease right now.. wanting to drop but still hanging there...
I don't even have a cool signature
  • #50,525
  • Nov 18, 2014 5:21pm Nov 18, 2014 5:21pm
Quoting thegmann
{quote} The logical question is who is buying at 117 levels? Everything should theoretically be priced in already what new news is possibly going to send this through obviously tough resistance at 117? I see profit taking and retail suckers who long at 116.8 levels getting stopped out then a rebound. If your not in short from around 117-116.90 with a tight stop looking for high R/R short it's best to stay out. Or of course long from 115.5 or lower.
Who's buying at these levels? Brokers and traders that make money.
The brokers are buying to cover all their clients positions and are bidding it higher, They don't care how high it goes, The higher the better, this is still pretty low to them. .
  • #50,526
  • Nov 18, 2014 5:25pm Nov 18, 2014 5:25pm
Quoting JTattheRanch
{quote} Who's buying at these levels? Brokers and traders that make money. The brokers are buying to cover all their clients positions and are bidding it higher, They don't care how high it goes, The higher the better, this is still pretty low to them. .
what institutional trader is buying at resistance... not saying its not going up but logically r/r is for downside.
  • #50,527
  • Nov 18, 2014 5:25pm Nov 18, 2014 5:25pm
Quoting JTattheRanch
{quote} I've noticed over the last serveral years that more and more traders are influenced by these type readings on the internet. This wasn't the case 10 years ago of even 5 years ago. Now the market moves in HUGE SHARP movements with absolutely no retracements. Or if there is it's very rare. Used to be that the market would just wave along and go up a steady 1000 pips then down a 1000 pips. It's because everyone expects these retracements now, which is the exact reason why it doesn't and won't happen.
But I'll have to disagree with you on your view of retracements. The sharp moves are either with-trend moves, or retracements. You just need to find the right time frame to get a clear picture in order to trade them. They happen all the time in any currency pair. Price never moves up or down in a straight line for long. Again, just my opinion...

Edit: should add there's obviously consolidation or ranging which can have sharp moves, and no trend, and maybe this is what you refer to, since most of the time price is not trending, but ranging, which requires similar trading style to entering on retracments, you just need to find the range, and trade the reversal at the boundary...
  • #50,528
  • Nov 18, 2014 5:30pm Nov 18, 2014 5:30pm
Quoting NoCoolNick
{quote} We have now had 3 visits at 117 with no break, i'm really surprised we got there again i have to admit so hats off to you guys who kept the long view. BUT a 4th try? TA wise that rarely happen.
a valid view, though i see supply @117 slowly giving way higher, and in my view, it's just a round number with stops above, nothing more (but nothing less!) ...however, i suppose this thing to turn around for a huge correction to at least 110ish, starting somewhere between 117.60 and 118.30 (max 119.80). BOJ today / FED minutes tomorrow could care for that pump'n'dump. indices performed great y-day, nikkei needs to catch up so i!m long to 117.50 then i'll look to short this fcuker finally

best of luck to everyone, bulls and bears
MarginTrader All Time Return: na
  • #50,529
  • Nov 18, 2014 5:41pm Nov 18, 2014 5:41pm
ill tell you this much, these news spikes... are very volatile, and not like they used to be a few weeks or months back, we are at a high level and big boys will make sure there is balance, so i wouldnt bank on data to profit as it comes out, play it as a slow burner...... price action is funny

still long from 115.5 and 116.7 ... open target... once 117.5 comes, will move stop to 117 or so..

lets go bulls

TREAD CAREFULLY unless you got alot of margin to hold, (if your establishing new longs)
  • #50,530
  • Nov 18, 2014 6:10pm Nov 18, 2014 6:10pm
117 finally broken!! Enroute to 120 baby
  • #50,531
  • Nov 18, 2014 6:11pm Nov 18, 2014 6:11pm
Quoting Liam0530
lets go bulls
MarginTrader All Time Return: na
  • #50,532
  • Nov 18, 2014 6:12pm Nov 18, 2014 6:12pm
asian session coming in Looking at the sky for the almighty i see
  • #50,533
  • Nov 18, 2014 6:25pm Nov 18, 2014 6:25pm
Quoting poseikwame
117 finally broken!! Enroute to 120 baby
indeed still holding my short at 116.95 haven't been stopped yet see what happens.
  • #50,534
  • Nov 18, 2014 6:25pm Nov 18, 2014 6:25pm
coommee onn bulllsss lets sky rocket this babyyy
  • #50,535
  • Nov 18, 2014 6:26pm Nov 18, 2014 6:26pm
Quoting Liam0530
asian session coming in Looking at the sky for the almighty i see
the hurdle:
Attached Image (click to enlarge)
Click to Enlarge Name: Y7jxRI8.png Size: 69 KB
MarginTrader All Time Return: na
  • #50,536
  • Nov 18, 2014 6:28pm Nov 18, 2014 6:28pm
Quoting MaryJane
{quote} the hurdle: {image}
Wrong chart or wrong thread or something.
  • #50,537
  • Nov 18, 2014 6:30pm Nov 18, 2014 6:30pm
Quoting benaiah
{quote} Wrong chart or wrong thread or something.
yea don't know what chart that is haha.
  • #50,538
  • Nov 18, 2014 6:31pm Nov 18, 2014 6:31pm
Quoting benaiah
{quote} Wrong chart or wrong thread or something.
sorry it's the nikkei 225; usually leading/ limiting USD/JPY in my experience
again sorry for not explaining it before
MarginTrader All Time Return: na
  • #50,539
  • Nov 18, 2014 6:34pm Nov 18, 2014 6:34pm
Quoting MaryJane
{quote} sorry it's the nikkei 225; usually leading/ limiting USD/JPY in my experience again sorry for not explaining it before
Well, one thing for sure, I'm not seeing the blast off I was hoping for. Hesitating way too soon. Only went up 10-15 pips and sputtering around a little.

Reminds of the fact that we have to remember we are sitting right up against weekly resistance. I would not be surprised if it gets slammed shortly...

Add: in fact I went ahead and TP on longs, and will stand aside and see what it wants to do.
  • #50,540
  • Nov 18, 2014 6:41pm Nov 18, 2014 6:41pm
Option barriers at 117.25 and 117.50 says forexlive
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