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USD/JPY Discussion

  • #51,561
  • Nov 25, 2014 10:43am Nov 25, 2014 10:43am
Quoting Patron
{quote} USDJPY M30 Meanwhile, I'll try a triangle for the USDJPY. {image}
USDJPY M30

I'm out until the imaginary triangle is resolved ...

We can not force the market to draw a triangle, it's just supposed to start.
Attached Image (click to enlarge)
Click to Enlarge Name: uj rei.PNG Size: 94 KB
Donde hay Patron no manda Marinero
  • #51,562
  • Nov 25, 2014 10:53am Nov 25, 2014 10:53am
Quoting mk5
{quote} nice. i lost my confidence after getting wiped recently =/ well its 500 bucks.
Stay focused man! Wait for a move to get in again. I would say right now anything trying to break above 118.10 is a good sign to buy!
Good luck and may the odds be ever in your favor!
  • #51,563
  • Nov 25, 2014 10:54am Nov 25, 2014 10:54am
Quoting Patron
{quote} USDJPY M30 I'm out until the imaginary triangle is resolved ... We can not force the market to draw a triangle, it's just supposed to start. {image}
Yeah I saw this triangle too. I'm still holding longs from last week at 117.92, 118.05 and then I have a micro lot at 118.80 lol....darn thing popped 119 and then tanked. Tis the life of a trader I guess!
Good luck and may the odds be ever in your favor!
  • #51,564
  • Nov 25, 2014 11:05am Nov 25, 2014 11:05am
This pair has such a totally bullish bias it's not even funny. It's been consolidating for past 4 days. Look at the daily chart.

When price is in a strong uptrend and starts consolidating, is it time to short it? Or time to look for long entries?

Does consolidation = reversal? Um, no.

Of course, if you want to trade the range short term, that's also in play. But if you are waiting for lower prices outside of the range, you might be disappointed...
Attached Image (click to enlarge)
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  • #51,565
  • Nov 25, 2014 11:12am Nov 25, 2014 11:12am
Even if a bearish breakout of triangle, watch for a bull flag to come into play, and still eventual break out long, and trend continues on it's merry way...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 87 KB
  • #51,566
  • Nov 25, 2014 11:14am Nov 25, 2014 11:14am
Quoting benaiah
This pair has such a totally bullish bias it's not even funny. It's been consolidating for past 4 days. Look at the daily chart. When price is in a strong uptrend and starts consolidating, is it time to short it? Or time to look for long entries? Does consolidation = reversal? Um, no. Of course, if you want to trade the range short term, that's also in play. But if you are waiting for lower prices outside of the range, you might be disappointed... {image}
Beer after Whisky can be risky. EUR & USA cannot go toghether same direction.
  • #51,567
  • Nov 25, 2014 11:22am Nov 25, 2014 11:22am
Quoting x58
{quote} Beer after Whisky can be risky. EUR & USA cannot go toghether same direction.
Not sure what you mean. How are EUR and USD going in the same direction?
  • #51,568
  • Nov 25, 2014 11:24am Nov 25, 2014 11:24am
Quoting Patron
{quote} USDJPY M30 I'm out until the imaginary triangle is resolved ... We can not force the market to draw a triangle, it's just supposed to start. {image}
USDJPY M30

A "SELL STOP" to the scalper could be interesting...

Technical: the EMA233, at M30, would be violated.
Attached Image (click to enlarge)
Click to Enlarge Name: ij sellstop.PNG Size: 126 KB
Donde hay Patron no manda Marinero
  • #51,569
  • Nov 25, 2014 11:37am Nov 25, 2014 11:37am
Quoting benaiah
Even if a bearish breakout of triangle, watch for a bull flag to come into play, and still eventual break out long, and trend continues on it's merry way... {image}
The problem with triangles and descending channels is that there is higher chance of dipping lower and thus difficult to set stop loss levels.
use leverage with caution...
  • #51,570
  • Nov 25, 2014 11:42am Nov 25, 2014 11:42am
Looking to long for 120...................... sometime this yr maybe
  • #51,571
  • Nov 25, 2014 11:43am Nov 25, 2014 11:43am
Quoting jsshuai
{quote} The problem with triangles and descending channels is that there is higher chance of dipping lower and thus difficult to set stop loss levels.
I hear ya...

My comments were primarily for trading direction, not really saying anyone should jump in long right now. Just noting the directional bias.

But if anyone really wants to jump in long, SL is easily placed below 117.34, as it's only touched down near there twice in 4 days. That is the bottom, until proven otherwise. So, if price gets close enough to that level where the risk is acceptable, an extremely good entry point...
  • #51,572
  • Nov 25, 2014 11:57am Nov 25, 2014 11:57am
about to make another run at 118.40...

Edit: Only thing that would change this view is H1 close below 117.68
  • #51,573
  • Nov 25, 2014 12:21pm Nov 25, 2014 12:21pm
Quoting benaiah
{quote} I hear ya... My comments were primarily for trading direction, not really saying anyone should jump in long right now. Just noting the directional bias. But if anyone really wants to jump in long, SL is easily placed below 117.34, as it's only touched down near there twice in 4 days. That is the bottom, until proven otherwise. So, if price gets close enough to that level where the risk is acceptable, an extremely good entry point...
good point. what's ur opinion on setting a target for long based on H1 tf?
use leverage with caution...
  • #51,574
  • Nov 25, 2014 12:28pm Nov 25, 2014 12:28pm
Quoting jsshuai
{quote} good point. what's ur opinion on setting a target for long based on H1 tf?
Short-term, I'd look at 118.43 as the target...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 84 KB
  • #51,575
  • Nov 25, 2014 12:36pm Nov 25, 2014 12:36pm
The pattern so far this week seems to be rise during the intraday session, and then a drop at japan open, followed by consolidation.
Good luck and may the odds be ever in your favor!
  • #51,576
  • Nov 25, 2014 1:05pm Nov 25, 2014 1:05pm
Hola....what do you think where is going USD/JPY today? AUD/JPY is in bear (hourly)....is it time for correction?
  • #51,577
  • Nov 25, 2014 1:27pm Nov 25, 2014 1:27pm
smh...
  • #51,578
  • Nov 25, 2014 1:43pm Nov 25, 2014 1:43pm
Quoting dbutton1990
The pattern so far this week seems to be rise during the intraday session, and then a drop at japan open, followed by consolidation.
Yay.
Someone else is concentrating on timing patterns.
Es mui importante.

  • #51,579
  • Nov 25, 2014 1:51pm Nov 25, 2014 1:51pm
Quoting Orly
{quote} Yay. Someone else is concentrating on timing patterns. Es mui importante.
Agree! Starting to rise now!
Good luck and may the odds be ever in your favor!
  • #51,580
  • Nov 25, 2014 1:53pm Nov 25, 2014 1:53pm
Quoting dbutton1990
{quote} Agree! Starting to rise now!
A break above 118.20 will kill this downtrend...for now haha
Good luck and may the odds be ever in your favor!
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