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USD/JPY Discussion

  • #50,541
  • Nov 18, 2014 6:41pm Nov 18, 2014 6:41pm
Quoting benaiah
{quote} 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.
yeah, nikkei just perfectly hit that supply created by the recent GDP drop. The UJ blast off was ok, now we need to see if nikkei manages to chew past that 17570 lvl then the way is really open for the bulls... considering recent pa in equities, it could work out before the BOJ announcement..
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  • #50,542
  • Nov 18, 2014 6:45pm Nov 18, 2014 6:45pm
It might be the ole classic trick, "Hey, time to go long! It's breaking out!"

"...right into resistance"

Sorry, bulls, but I'll be looking for a ride back down the mountain. Unless I see a breakout above AND rejection of 117.24.

Either that or a pull-back, and reversal for re-entry long if it pulls back enough for a big enough target...
  • #50,543
  • Nov 18, 2014 6:47pm Nov 18, 2014 6:47pm
jpy225 is too volatile and unpredictable for me to trade it...
  • #50,544
  • Nov 18, 2014 6:51pm Nov 18, 2014 6:51pm
Quoting poseikwame
jpy225 is too volatile and unpredictable for me to trade it...
i don't trade it either.. just using it as a leading indicator for UJ trading
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  • #50,545
  • Nov 18, 2014 6:54pm Nov 18, 2014 6:54pm
to clarify, all of my comments where pertaining to USDJPY not jpy225
  • #50,546
  • Nov 18, 2014 6:57pm Nov 18, 2014 6:57pm
Took the bait, short another 10 pips and I'm done for the night.
  • #50,547
  • Nov 18, 2014 7:00pm Nov 18, 2014 7:00pm
.... and back below 117 again...
  • #50,548
  • Nov 18, 2014 7:07pm Nov 18, 2014 7:07pm
back to targeting 115.32

If you are long, prepare for some pain. I wish it looked differently, but it looks like a bull trap to me.
  • #50,549
  • Nov 18, 2014 7:08pm Nov 18, 2014 7:08pm
Quoting fxtradeabi
Took the bait, short another 10 pips and I'm done for the night.
good nites fella...
  • #50,550
  • Nov 18, 2014 7:09pm Nov 18, 2014 7:09pm
Talk around the web is that this could be capped at 117.50 - 117.60 and then get sold hard... hmm could be that Boj will be the catalyst with some spike move. Have to say it was not much follow thru by bulls so it makes me think we could actually have run out of bulls.. as long as we stay above 117 stay with my small longs avg price 117.12 but am rethinking my target of 118.20.

Edit. Test of break or did we get f*cked?
I don't even have a cool signature
  • #50,551
  • Nov 18, 2014 7:11pm Nov 18, 2014 7:11pm
I am so totally shorting this pair right now, and will look for a fall of 100-200 pips.

Remember, 117.24 was weekly resistance.

Edit: as long as it stays below 117.24 the direction is down. But if it gets above 117.24, then maybe bull time
  • #50,552
  • Nov 18, 2014 7:11pm Nov 18, 2014 7:11pm
weee back below 117
still holding 116.95 hopefully pays off still waiting to see...
  • #50,553
  • Nov 18, 2014 7:11pm Nov 18, 2014 7:11pm
as long as we don't tread under 116.80 it's still
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  • #50,554
  • Nov 18, 2014 7:16pm Nov 18, 2014 7:16pm
This is one of those times to open another account with one of those $50 account opening bonuses just to go all in and short the crap out of this.
  • #50,555
  • Nov 18, 2014 7:32pm Nov 18, 2014 7:32pm
added more longs at 117, will be watching it closely.

let's see how it turns out!

BOJ announcement coming up,trade safe ​
  • #50,556
  • Nov 18, 2014 7:39pm Nov 18, 2014 7:39pm
this pair is so predictable , new highs followed by sell offs, for about what - a month(few weeks)??? :nerd:
buy the rumor, sell the news.......
buy on dips
hold dont fold

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  • #50,557
  • Nov 18, 2014 7:41pm Nov 18, 2014 7:41pm
Quoting MaryJane
as long as we don't tread under 116.80 it's still https://www.youtube.com/watch?v=0akBdQa55b4
A good trader follows his rules, but great trader knows when to break them
  • #50,558
  • Nov 18, 2014 7:42pm Nov 18, 2014 7:42pm
Quoting benaiah
back to targeting 115.32 If you are long, prepare for some pain. I wish it looked differently, but it looks like a bull trap to me.

It's not a bull trap. It's a bear trap. You actually think it's going lower? Even if it does with the very small % chance it does, it won't drop no 200 pip's that's for sure it may drop 30-40 pips but then get right back on the gravy train up that it's been on for the LAST 3 YEARS STRAIGHT

It's gone up 5000 pips in that time with only about 4-5 very small retracements of a mere 200 pips . Think about that. 4-5 times in the past 900 days it's retraced and you're sitting here saying this is one right now?
  • #50,559
  • Nov 18, 2014 7:44pm Nov 18, 2014 7:44pm
Quoting Liam0530
this pair is so predictable , new highs followed by sell offs, for about what - a month(few weeks)??? :nerd: buy the rumor, sell the news....... buy on dips hold dont fold {image}
it's the only pair i keep on trading in fx.. perhaps i'm an idiot but i really can't comprehend how anyone can trade things like eur/usd in TFs shorter than daily.... highest regards to all those who can...
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  • #50,560
  • Nov 18, 2014 7:45pm Nov 18, 2014 7:45pm
With the way it is sitting above 117 now, we could definitely see 117.50 tonight. The bears can't seem to drop it so easily this time.
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