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USD/JPY Discussion

  • #50,601
  • Nov 18, 2014 9:16pm Nov 18, 2014 9:16pm
waiting for the "shorting here" posts to come

LONG baby

dollar going up across board in tonight asian session ...
  • #50,602
  • Nov 18, 2014 9:18pm Nov 18, 2014 9:18pm
Quoting Oser
{quote} no sooner you post this... then boom!
Hahahaha right. Maybe 1 minute later
  • #50,603
  • Nov 18, 2014 9:23pm Nov 18, 2014 9:23pm
Quoting Liam0530
waiting for the "shorting here" posts to come LONG baby dollar going up across board in tonight asian session ...
Careful. Not good karma to gloat....
  • #50,604
  • Nov 18, 2014 9:24pm Nov 18, 2014 9:24pm
Price has entered a weekly supply zone that has never been tested. I would be very surprised if price just plowed right through it. Price has always pulled back at any weekly supply zone in the past. The last one pulled back 400 pips. Price could go higher, but i expect a significant pull-back soon, maybe not 400 pips, but I would expect at least 200-300 pips, back to the daily pivot, and possibly weekly pivot.

This my opinion, and I respect any who have an opposing opinion.
  • #50,605
  • Nov 18, 2014 9:27pm Nov 18, 2014 9:27pm
Quoting benaiah
Price has entered a weekly supply zone that has never been tested. I would be very surprised if price just plowed right through it. Price has always pulled back at any weekly supply zone in the past. The last one pulled back 400 pips. Price could go higher, but i expect a significant pull-back soon, maybe not 400 pips, but I would expect at least 200-300 pips, back to the daily pivot, and possibly weekly pivot. This my opinion, and I respect any who have an opposing opinion.
Good points..... and it appears price is doing as you predict... tightening stops accordingly.....
  • #50,606
  • Nov 18, 2014 9:28pm Nov 18, 2014 9:28pm
Quoting benaiah
Price has entered a weekly supply zone that has never been tested. I would be very surprised if price just plowed right through it. Price has always pulled back at any weekly supply zone in the past. The last one pulled back 400 pips. Price could go higher, but i expect a significant pull-back soon, maybe not 400 pips, but I would expect at least 200-300 pips, back to the daily pivot, and possibly weekly pivot. This my opinion, and I respect any who have an opposing opinion.
i too expect a nice snap back... maybe some big take profits......

lets see what BoJ offers and then FOMC minutes in the morning also....

i was going to tP now, but i think ill hold .. f it
  • #50,607
  • Nov 18, 2014 9:34pm Nov 18, 2014 9:34pm
Quoting benaiah
Price has entered a weekly supply zone that has never been tested. I would be very surprised if price just plowed right through it. Price has always pulled back at any weekly supply zone in the past. The last one pulled back 400 pips. Price could go higher, but i expect a significant pull-back soon, maybe not 400 pips, but I would expect at least 200-300 pips, back to the daily pivot, and possibly weekly pivot. This my opinion, and I respect any who have an opposing opinion.
where are you identifying weekly resistance? just curious (not arguing) - I want to see what you are seeing.
  • #50,608
  • Nov 18, 2014 9:34pm Nov 18, 2014 9:34pm
Quoting benaiah
Price has entered a weekly supply zone that has never been tested. I would be very surprised if price just plowed right through it. Price has always pulled back at any weekly supply zone in the past. The last one pulled back 400 pips. Price could go higher, but i expect a significant pull-back soon, maybe not 400 pips, but I would expect at least 200-300 pips, back to the daily pivot, and possibly weekly pivot. This my opinion, and I respect any who have an opposing opinion.
Where is the weekly pivot ? Tks.
  • #50,609
  • Nov 18, 2014 9:35pm Nov 18, 2014 9:35pm
Which is why I was calling this a bull trap earlier, because price had been fighting with 117 for so long, once it broke through, many traders will jump in long thinking that the sky is the limit, not paying attention to the even bigger obstacle lying ahead.

As I said before, price could go higher, I won't deny it. The weekly supply zone is around 100 pips wide, so some room there. But a lot of big money traders only enter and exit trades in these zones. So, there will be the potential for profit taking and short entries on the horizon until it gets past 118ish area. I'd expect a lot of volatility at the very least...
  • #50,610
  • Nov 18, 2014 9:37pm Nov 18, 2014 9:37pm
well BOJ still saying the currency is crap anyway... still Long to 118!!
  • #50,611
  • Nov 18, 2014 9:38pm Nov 18, 2014 9:38pm
Quoting slk
{quote} Where is the weekly pivot ? Tks.
Weekly is approx 115.65

Daily is 116.73

Of course the daily is recalculated each day, and weekly is recalculated each week...
  • #50,612
  • Nov 18, 2014 9:39pm Nov 18, 2014 9:39pm
Quoting poseikwame
well BOJ still saying the currency is crap anyway... still Long to 118!!
yeah, dont see any surprises, lets see how this goes through to the london session
  • #50,613
  • Nov 18, 2014 9:40pm Nov 18, 2014 9:40pm
Quoting Oser
{quote} where are you identifying weekly resistance? just curious (not arguing) - I want to see what you are seeing.
What do you mean by that?

Ha ha, just kidding.

Just a minute, I'll figure out the best way to post it...
  • #50,614
  • Nov 18, 2014 9:44pm Nov 18, 2014 9:44pm
Quoting Liam0530
{quote} yeah, dont see any surprises, lets see how this goes through to the london session
nothing new to see still sticking to fact that everything was already priced in.
  • #50,615
  • Nov 18, 2014 9:44pm Nov 18, 2014 9:44pm
Gidday Yen masters


Hope fully the retrace

is only 100 pips etc

My short is to 115:nerd:
Attached Image
  • #50,616
  • Nov 18, 2014 9:45pm Nov 18, 2014 9:45pm
Quoting benaiah
{quote} What do you mean by that? Ha ha, just kidding. Just a minute, I'll figure out the best way to post it...
I think the weekly supply you are talking about is back in October of 2007....correct?
  • #50,617
  • Nov 18, 2014 9:47pm Nov 18, 2014 9:47pm
Quoting thegmann
{quote} nothing new to see still sticking to fact that everything was already priced in.
fomc meeting minutes might have some surprises.. concerns of inflation etc etc...
  • #50,618
  • Nov 18, 2014 9:47pm Nov 18, 2014 9:47pm
Quoting Trendzalore
{quote} I think the weekly supply you are talking about is back in October of 2007....correct?
That's what I was tHinking he is referring to... I mean that is when the last time price was at that level on it's way down then...
  • #50,619
  • Nov 18, 2014 9:50pm Nov 18, 2014 9:50pm
Quoting Liam0530
{quote} yeah, dont see any surprises, lets see how this goes through to the london session
yhh London session should push it thru 11750 - 118 then fomc does the glorious 11950-120
  • #50,620
  • Nov 18, 2014 9:52pm Nov 18, 2014 9:52pm
Quoting Oser
{quote} where are you identifying weekly resistance? just curious (not arguing) - I want to see what you are seeing.
Yes, you guys found it, back in 10/2007. Price is currently trading right under the D1 area

Edit:Sorry, not D1, should be S1. i.e. supple or demand, in this case a supply area...
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