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USD/JPY Discussion

  • #51,701
  • Nov 26, 2014 9:16am Nov 26, 2014 9:16am
Quoting Rizmeister
{quote} Eh this drop isn't too bad...I am not too worried...I am still drawing down and will do so for a bit more....absorbing bad data nicely. Bulls are still hanging around. Once the balance shifts of retail south bam north we go. Edit: If a bigger correction is in play then I will act accordingly
We can head down 500 to 1000 pips without changing the trend....just saying.
COT: The precious data ignored
  • #51,702
  • Nov 26, 2014 9:17am Nov 26, 2014 9:17am
Quoting kuroro001
{quote} We can head down 500 to 1000 pips without changing the trend....just saying.

Never said anyting about trend change...I said correction prior to continuation...hence why I said I would act according.


Edit:
  • #51,703
  • Nov 26, 2014 9:19am Nov 26, 2014 9:19am
Quoting Rizmeister
{quote} Eh this drop isn't too bad...I am not too worried...I am still drawing down and will do so for a bit more....absorbing bad data nicely. Bulls are still hanging around. Once the balance shifts of retail south bam north we go. Edit: If a bigger correction is in play then I will act accordingly
That boat may have sailed. Mid/late last week when a handful of folks here were suggesting a top could be in place (at least short term), the number of retail traders going long this pair (by published stats) jumped markedly over the figures from earlier weeks. The crowd will traditionally arrive at the last moment...
  • #51,704
  • Nov 26, 2014 9:21am Nov 26, 2014 9:21am
waiting this pussy to come to 117.35
As Above, So Below
  • #51,705
  • Nov 26, 2014 9:21am Nov 26, 2014 9:21am
Quoting Rizmeister
{quote} Never said anyting about trend change...I said correction prior to continuation...hence why I said I would act according. Edit:
Good luck with it
COT: The precious data ignored
  • #51,706
  • Nov 26, 2014 9:23am Nov 26, 2014 9:23am
Quoting Mpt
{quote} That boat may have sailed. Mid/late last week when a handful of folks here were suggesting a top could be in place (at least short term), the number of retail traders going long this pair (by published stats) jumped markedly over the figures from earlier weeks. The crowd will traditionally arrive at the last moment...
Most retailers are hammering longs to get the precious 120. So i guess plenty will risk a lot of pips to get a few pips.

Maybe we'll see that number, maybe we won't, i have no freaking ideas nor i care, lets trade what's actually being seen on chart
COT: The precious data ignored
  • #51,707
  • Nov 26, 2014 9:24am Nov 26, 2014 9:24am
Quoting kuroro001
{quote} Most retailers are hammering longs to get the precious 120. So i guess plenty will risk a lot of pips to get a few pips. Maybe we'll see that number, maybe we won't, i have no freaking ideas nor i care, lets trade what's actually being seen on chart

Really depends what chart youre looking at I guess.

I mean we have had a huge run up...correction is likely....but I don't "think" it will come prior to a new high is met MIN.

EDIT: Absorbing some meh data nicely. Bulls are hanging out.
  • #51,708
  • Nov 26, 2014 9:25am Nov 26, 2014 9:25am
slowly building longs
Attached Image (click to enlarge)
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As Above, So Below
  • #51,709
  • Nov 26, 2014 9:26am Nov 26, 2014 9:26am
Quoting tashkent
slowly building longs {image}

  • #51,710
  • Nov 26, 2014 9:26am Nov 26, 2014 9:26am
bull is in play...if we go under 117 we can speak about correction to 115
  • #51,711
  • Nov 26, 2014 9:30am Nov 26, 2014 9:30am
Quoting Rizmeister
{quote} Really depends what chart youre looking at I guess. I mean we have had a huge run up...correction is likely....but I don't "think" it will come prior to a new high is met MIN. EDIT: Absorbing some meh data nicely. Bulls are hanging out.
I'm looking at anything and everything that can be traded

I really thought we'd have a new high or very close to it before correcting, but it doesn't want to rise anymore.

And indeed bulls are still lurking around, for how long though? Below 117,3 it could open the gate to 116,40/50 and then to 114,40/115,50 on daily/Weekly.

If crosses can give up some gains, it should help to correct
COT: The precious data ignored
  • #51,712
  • Nov 26, 2014 9:31am Nov 26, 2014 9:31am
Quoting kuroro001
{quote} I'm looking at anything and everything that can be traded I really thought we'd have a new high or very close to it before correcting, but it doesn't want to rise anymore. And indeed bulls are still lurking around, for how long though? Below 117,3 it could open the gate to 116,40/50 and then to 114,40/115,50 on daily/Weekly. If crosses can give up some gains, it should help to correct

Indeed. If so adjustments/plan will be changed.. I am not gonna jump too early though. Daddy still wants 119.7x+ will it come yes...when is the question
  • #51,713
  • Nov 26, 2014 9:32am Nov 26, 2014 9:32am
Well we did manage to break that minor support at 117.70...however I will not change my outlook on this pair until we break below and close at 117.45. We are in a nice 100 pip consolidation range. Easy money if you ask me! If I were scalping, I would place a buy targeting 118.30 here.
Attached Image (click to enlarge)
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Good luck and may the odds be ever in your favor!
  • #51,714
  • Nov 26, 2014 9:33am Nov 26, 2014 9:33am
Quoting dbutton1990
Well we did manage to break that minor support at 117.70...however I will not change my outlook on this pair until we break below and close at 117.45. We are in a nice 100 pip consolidation range. Easy money if you ask me! If I were scalping, I would place a buy targeting 118.30 here. {image}

Bullish consolidation

Do it up buddy.
  • #51,715
  • Nov 26, 2014 9:48am Nov 26, 2014 9:48am
Quoting Rizmeister
{quote} Bullish consolidation Do it up buddy.
"BULLISH?" R U sure?
  • #51,716
  • Nov 26, 2014 9:50am Nov 26, 2014 9:50am
Quoting zoolc
{quote} "BULLISH?" R U sure?
Text book.

I am a dental hygienist sheesh!

EDIT: But what do I know. I know teeth.
  • #51,717
  • Nov 26, 2014 10:28am Nov 26, 2014 10:28am
Quoting kuroro001
{quote} I'm looking at anything and everything that can be traded I really thought we'd have a new high or very close to it before correcting, but it doesn't want to rise anymore. And indeed bulls are still lurking around, for how long though? Below 117,3 it could open the gate to 116,40/50 and then to 114,40/115,50 on daily/Weekly. If crosses can give up some gains, it should help to correct
Had a pending sell at 118.33 for the last 18 hrs, can't believe it wasn't triggered across 3 sessions with that many news items. Order pulled will wait for Tokyo. Would prefer to short a higher high also. No longs in play for me.
  • #51,718
  • Nov 26, 2014 10:41am Nov 26, 2014 10:41am
For all the persistent bulls in here, lots of love n Don't lose hope, maybe next yr
  • #51,719
  • Nov 26, 2014 10:45am Nov 26, 2014 10:45am
Quoting fxtradeabi
For all the persistent bulls in here, lots of love n Don't lose hope, maybe next yr

Lol yeah next year is one month away

Bears have gotten slaughtered..

And will continue to get slaughtered as the Yen becomes worth less than the toilet paper I wipe my ass with..
  • #51,720
  • Nov 26, 2014 10:47am Nov 26, 2014 10:47am
If we head back above 117.70 that is a strong sign for bulls
Good luck and may the odds be ever in your favor!
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