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USD/JPY Discussion

  • #50,981
  • Nov 20, 2014 11:07am Nov 20, 2014 11:07am
Quoting NoCoolNick
{quote} Don't ever underestimate the power of a level and banks TP. It can be brutal to the pip. The major levels I have had was 110.00 (yes to the pip) adn we got 110.08 ish and resulted in 500 pip retrace. Next level was 117.03 ish and the last level i wanted a reaction from, as you all know we banged that level for days.. but got only 155 pips retrace from that, but it was also just a mid target. The next is 120.17 ish and that is major fibwise, and also a round number and a major TP. At most you will get 10 pips extra on that and a retrace could...
Hi what is the major cause of the 500pips retraction in level 110ish ?
  • #50,982
  • Nov 20, 2014 11:09am Nov 20, 2014 11:09am
Quoting Didgeridoo
{quote} You have confidence it will drift higher? - if you do please share some.
YES:: look at 2006-07 charts!! similar trend movements!! dont forget history repeats it's self!!
  • #50,983
  • Nov 20, 2014 11:09am Nov 20, 2014 11:09am
Quoting Fx-gtg
{quote} shorting now 118.20
Yeah, understand that, not much of a pop. Very soon it needs to decide what direction. Will stay with longs for now
I don't even have a cool signature
  • #50,984
  • Nov 20, 2014 11:12am Nov 20, 2014 11:12am
Quoting poseikwame
{quote} YES:: look at 2006-07 charts!! similar trend movements!! dont forget history repeats it's self!!
thanks. will do.
  • #50,985
  • Nov 20, 2014 11:13am Nov 20, 2014 11:13am
just went long for 2 months........up 1.1 pips...

First profitable trade yet on this pair....lol

wow...

peace
  • #50,986
  • Nov 20, 2014 11:16am Nov 20, 2014 11:16am
Quoting ILOVEmoney2
just went long for 2 months........up 1.1 pips... First profitable trade yet on this pair....lol wow... peace
Buy on the dips... just dont think about shorting this pair!! go back a few pages theres a video posted by mary Jane!! Watch it and decide!!
  • #50,987
  • Nov 20, 2014 11:45am Nov 20, 2014 11:45am
Well, if it drops anywhere near 116.80, I'll DEFINITELY be looking how price is behaving, and seriously look at possible long positions. Anything that looks bullish before it gets "near" that level, I will be very suspicious of, and only view as short term opportunities.

Right now, it appears ready for another drop. But I am not pushing it down

This is only my opinion. Happy trading and lots of pips to everyone

Edit:or if it can get above 118.27ish area and show a bullish rejection, then I'm in!
  • #50,988
  • Nov 20, 2014 11:47am Nov 20, 2014 11:47am
breakout to the north or south pending...should be anytime now
Good luck and may the odds be ever in your favor!
  • #50,989
  • Nov 20, 2014 11:51am Nov 20, 2014 11:51am
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-mn1-fxdirectdealer.png Size: 50 KB


How can you go against this? What an uptrend!!!! Lost my butt on this one waiting for a turnaround...ain't gonna happen till 2015 from what the "experts" say.....

http://theeconomiccollapseblog.com/a...he-u-s-economy

Pretty cool to be able to flip a coin and say, "ALL IN".............

peace
  • #50,990
  • Nov 20, 2014 11:56am Nov 20, 2014 11:56am
Quoting gstock
{quote} Hi what is the major cause of the 500pips retraction in level 110ish ?
Profittaking at major level, often sparked by some fundamental stats or news..
I don't even have a cool signature
  • #50,991
  • Nov 20, 2014 12:21pm Nov 20, 2014 12:21pm
What a boring Thursday.
Good luck and may the odds be ever in your favor!
  • #50,992
  • Nov 20, 2014 12:26pm Nov 20, 2014 12:26pm
Will look for a little bull bounce around 117.65. But wouldn't expect it to go much higher than 118.10 if that... We'll see...
  • #50,993
  • Nov 20, 2014 12:27pm Nov 20, 2014 12:27pm
Added some longs at 117.93, my patience with this monkey is running out
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  • #50,994
  • Nov 20, 2014 12:29pm Nov 20, 2014 12:29pm
Quoting benaiah
Will look for a little bull bounce around 117.65. But wouldn't expect it to go much higher than 118.10 if that... We'll see...
Yeah, i have 117.63 that will be the last one...
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  • #50,995
  • Nov 20, 2014 12:30pm Nov 20, 2014 12:30pm
Quoting NoCoolNick
{quote} Yeah, i have 117.63 that will be the last one...
Why not wait for the reversal? It will come...
  • #50,996
  • Nov 20, 2014 12:35pm Nov 20, 2014 12:35pm
Quoting NoCoolNick
{quote} Yeah, i have 117.63 that will be the last one...
have same 117.63,3
  • #50,997
  • Nov 20, 2014 12:37pm Nov 20, 2014 12:37pm
By the way, one reason I don't have any confidence in anything that might look like a bullish reversal at the current level is because right above it is a bearish reversal. So, any bullish move will be quickly met with a ton of bears pushing it back down.

Just my opinion, but I always look for good R:R and room for trades to move. Right now bears have all the room in the world to go down. Bulls have no room at all to go up.

However, as always, price is dynamic. We'll see what it looks like several candles from now...

Edit: don't try to catch a falling knife. Wait for a floor to develop so that the knife will stick. Then pick it up and slaughter some bears. Ha ha, just kidding. Don't hurt anyone
  • #50,998
  • Nov 20, 2014 12:41pm Nov 20, 2014 12:41pm
Quoting benaiah
{quote} Why not wait for the reversal? It will come...
I'm not sure what this is doing anymore. The daily candle is starting to get very real unless US starts pumping it up. And that could put 120 on hold for a couple of weeks.. SO if pumping is starting we cant go to low now. Looking for 117.80 to keep this in place. Else I have to switch again but would like to do it higher..
I don't even have a cool signature
  • #50,999
  • Nov 20, 2014 12:47pm Nov 20, 2014 12:47pm
Quoting NoCoolNick
{quote} I'm not sure what this is doing anymore. The daily candle is starting to get very real unless US starts pumping it up. And that could put 120 on hold for a couple of weeks.. SO if pumping is starting we cant go to low now. Looking for 117.80 to keep this in place. Else I have to switch again but would like to do it higher..
Yes, and I totally don't expect the NY close daily candle to look bullish today, but we'll find out...

Also, check the H4 chart. Inside bar breakout to the downside. Expect bearish momentum, for awhile.... Again, only my opinion...
  • #51,000
  • Nov 20, 2014 12:53pm Nov 20, 2014 12:53pm
Quoting benaiah
{quote} Yes, and I totally don't expect the NY close daily candle to look bullish today, but we'll find out... Also, check the H4 chart. Inside bar breakout to the downside. Expect bearish momentum, for awhile.... Again, only my opinion...
Yeah, 4H also look ugly BUT this has been a bullish motherf*cker and each time one gets comfy with a short it turns on you ..
My gut feelings says down, but knowing how happy bulls are, i'm very careful now until i see 120.00 printed.
I don't even have a cool signature
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