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USD/JPY Discussion

  • #50,741
  • Nov 19, 2014 3:28pm Nov 19, 2014 3:28pm
Quoting NoCoolNick
{quote} SO why do you feel you need to call other people idiots? i just don't get it..

Because he was advocating the rally higher yet talking about selling
  • #50,742
  • Nov 19, 2014 3:33pm Nov 19, 2014 3:33pm
Back in 2011 in this forum the same discussion was here but everybody was talking about a free fall

http://www.forexfactory.com/showthre...5505&page=1431
  • #50,743
  • Nov 19, 2014 3:33pm Nov 19, 2014 3:33pm
Quoting Liam0530
{quote} but still, i think actually getting the perfect short is super difficult, because even off of a supply zone, when polcies diverge, the supply zone can only push down so much, which would be perfect for scalping on shorts...(shorting the pullback)... but like i always say - big ups to you on your technique which is working for you and to the traders that profit from shorting this pair!
I think boils down to trading style and time frame, as you also allude to. I think if price is at a place where there is good R:R in either direction, then it makes sense to me to follow the price.

For example, 117.85 is a key level, if it can't stay above it, then should be a nice drop. If it bounces off of it again, a nice long entry. Either way is fine with me, as I trade the short term...

Edit: For me getting too attached to one price direction causes me to get tunnel vision, and lose money when the direction changes. That's why shorter term trading works for me. It keeps me from getting emotionally attached to any particular direction, and opens up more opportunities to gain. Anyway, just my style, I respect others who trade differently...
  • #50,744
  • Nov 19, 2014 3:40pm Nov 19, 2014 3:40pm
Quoting eliteincome
Harrow fellow Grasshoppers Man what a ride What a way to end the year with these massive moves reckon a lot traders would be way ahead Just have to keep the gains I got pending sell at 118.8 to 117
I agree with you potential selling opportunities at those levels, maybe even before it gets up there, but I'll need to see what the price does when it gets up there. No way I'm going to just pick a level and sell there, unless I see recent bounce off of it. Anyway, hope your trades work out...
  • #50,745
  • Nov 19, 2014 3:45pm Nov 19, 2014 3:45pm
Its so tempting to short the yen pairs, but if we look at daily it is very dangerous.

Usdjpy wants to hit 120
eurjpy wants 150 and gbpjpy wants 188/190, so there are a lot of room up left. And maybe more

The yen is following commodities path, its going one way without retracing. And there is no way to know where/when it will end

It could correct this week or the next one before reaching key areas. I'll attempt some small shorts in order to catch a big dip to get in for a buy
Make money by doing the opposite of Giveachance aka loser
  • #50,746
  • Nov 19, 2014 3:56pm Nov 19, 2014 3:56pm
I SEE PEOPLE ARE NOT REALLY LISTENING WHEN IT COMES TO YEN PAIRS... BUY THE BLOODY DIPS!!

WATCH THE VIDEO BELOW FROM MARYJANE!! https://www.youtube.com/watch?v=0akBdQa55b4
  • #50,747
  • Nov 19, 2014 4:06pm Nov 19, 2014 4:06pm
Quoting poseikwame
I SEE PEOPLE ARE NOT REALLY LISTENING WHEN IT COMES TO YEN PAIRS... BUY THE BLOODY DIPS!! WATCH THE VIDEO BELOW FROM MARYJANE!! https://www.youtube.com/watch?v=0akBdQa55b4

This

People just don't get it. They want to buck the trend then wonder why they get raped by the trend
  • #50,748
  • Nov 19, 2014 4:15pm Nov 19, 2014 4:15pm
If 117.85 doesn't hold, I'll be looking for short opportunities
  • #50,749
  • Nov 19, 2014 4:19pm Nov 19, 2014 4:19pm
120 definitely a possibility before the end of the week...then the question is, will it try to go higher?
Good luck and may the odds be ever in your favor!
  • #50,750
  • Nov 19, 2014 4:30pm Nov 19, 2014 4:30pm
Nice support level found a few pips above 117.85. Good sign for intra-day long positions...
  • #50,751
  • Nov 19, 2014 4:32pm Nov 19, 2014 4:32pm
Quoting benaiah
Nice support level found a few pips above 117.85. Good sign for intra-day long positions...
You have a good analysis! Keep up the good work
Good luck and may the odds be ever in your favor!
  • #50,752
  • Nov 19, 2014 4:35pm Nov 19, 2014 4:35pm
Quoting dbutton1990
120 definitely a possibility before the end of the week...then the question is, will it try to go higher?
look at 2006-2007 charts that is where the drop started... then you will understand
  • #50,753
  • Nov 19, 2014 4:38pm Nov 19, 2014 4:38pm
Quoting poseikwame
{quote} look at 2006-2007 charts that is where the drop started... then you will understand
124.03 is the highest this thing has ever been....maybe it will try and make a new high!
Good luck and may the odds be ever in your favor!
  • #50,754
  • Nov 19, 2014 4:53pm Nov 19, 2014 4:53pm
Surrender... Short from 108

Looks like last year... EurTry, nightmare
  • #50,755
  • Nov 19, 2014 5:01pm Nov 19, 2014 5:01pm
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  • #50,756
  • Nov 19, 2014 5:02pm Nov 19, 2014 5:02pm
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  • #50,757
  • Nov 19, 2014 5:03pm Nov 19, 2014 5:03pm
Posted H4, daily, weekly, monthly charts showing the channel price is moving in.

Eventual target 124

Edit:keeps breaking out of channels. Just move up a time frame to find the new channel it moves in. Of course this is long term, may take weeks, who knows?
  • #50,758
  • Nov 19, 2014 5:12pm Nov 19, 2014 5:12pm
Quoting benaiah
Posted H4, daily, weekly, monthly charts showing the channel price is moving in. Eventual target 124 Edit:keeps breaking out of channels. Just move up a time frame to find the new channel it moves in. Of course this is long term, may take weeks, who knows?
Who is still shorting UJ? must be some one?
  • #50,759
  • Nov 19, 2014 5:25pm Nov 19, 2014 5:25pm
Quoting OberonZhao
{quote} Who is still shorting UJ? must be some one?
hmm...

Well, not sure, but I do know that if a whole bunch of traders with a lot of money take some profit on long positions, then they are shorting the market, and if more money is being sold (i.e. closing longs to take profit), than money coming in to buy, then the price comes down...

On top of that, if the buyers (who became sellers when they took profit) move the market enough, then more sellers come in and perpetuate that move down...
  • #50,760
  • Nov 19, 2014 5:47pm Nov 19, 2014 5:47pm
Quoting benaiah
Posted H4, daily, weekly, monthly charts showing the channel price is moving in. Eventual target 124 Edit:keeps breaking out of channels. Just move up a time frame to find the new channel it moves in. Of course this is long term, may take weeks, who knows?
Older peaks:
'98 147
'02 135

Fundamentally, Japan is fiscal toast--why not 200
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