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USD/JPY Discussion

  • #52,561
  • Dec 5, 2014 9:12am Dec 5, 2014 9:12am
ThaTs what I did. But a little too early. Sigh.

Quoting Rizmeister
Careful if anyone is holding over the weekend. I would highly suggest consider taking some profit
  • #52,562
  • Dec 5, 2014 9:13am Dec 5, 2014 9:13am
Quoting mk5
ThaTs what I did. But a little too early. Sigh. {quote}

Yeah should have held off a little plenty of time left atleast 2 hours of good trading though it is Friday.
  • #52,563
  • Dec 5, 2014 9:15am Dec 5, 2014 9:15am
Yeah. I'm still not there yet. . Still learning from u guys

Quoting Rizmeister
{quote} Yeah should have held off a little plenty of time left atleast 2 hours of good trading though it is Friday.
  • #52,564
  • Dec 5, 2014 9:16am Dec 5, 2014 9:16am
Quoting mk5
Yeah. I'm still not there yet. . Still learning from u guys {quote}
We are all still learning buddy! It never stops!
  • #52,565
  • Dec 5, 2014 9:18am Dec 5, 2014 9:18am
Yeah thanks mate ! Willing to learn as much as u guys are willing to share ur views.
Quoting Rizmeister
{quote} We are all still learning buddy! It never stops!
  • #52,566
  • Dec 5, 2014 9:19am Dec 5, 2014 9:19am
Can't wait for Monday. There's no blues for me ever since I started trading
  • #52,567
  • Dec 5, 2014 9:20am Dec 5, 2014 9:20am
Quoting Rizmeister
Is this photo shopped baby? I AM IN HEAVY LETS GO!! @ FXTRADEABI {image}
hey riz, just wondering how you made that screenshot? I'm new to fxcm(recently switched from Oanda) and I'm having a fuck of a time figuring it out?
  • #52,568
  • Dec 5, 2014 9:20am Dec 5, 2014 9:20am
All hopes of retraces are gone, a few more hundred pips on the way now
COT: The precious data ignored
  • #52,569
  • Dec 5, 2014 9:22am Dec 5, 2014 9:22am
Quoting wyley187
{quote} hey riz, just wondering how you made that screenshot? I'm new to fxcm(recently switched from Oanda) and I'm having a fuck of a time figuring it out?
Its called snipping tool its for the pc! you can always use print screen button too.
  • #52,570
  • Dec 5, 2014 9:23am Dec 5, 2014 9:23am
Next resistance at 123.735.

I will be only trading short term today on lower time frames, as I also do not plan on holding over the weekend...

I would also look for some profit taking today to cause a little drop at some point, which would be a good opportunity to short just kidding

​Bull City all the way baby

Edit: Support at 121.42, then 120.98. as long as it stays above those 2 support levels, targeting 123 for today
  • #52,571
  • Dec 5, 2014 9:23am Dec 5, 2014 9:23am
Quoting benaiah
Next resistance at 123.735. I will be only trading short term today on lower time frames today, as I also do not plan on holding over the weekend... I would also look for some profit taking today to cause a little drop at some point, which would be a good opportunity to short just kidding ​Bull City all the way baby


  • #52,572
  • Dec 5, 2014 9:46am Dec 5, 2014 9:46am
Guys, will an increase in US Consumer Credit drive the USD/JPY upwards?
  • #52,573
  • Dec 5, 2014 9:57am Dec 5, 2014 9:57am
lets see as previous char posted about
Attached Image (click to enlarge)
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  • #52,574
  • Dec 5, 2014 9:58am Dec 5, 2014 9:58am
WOOOO HOOOO!!!!! 121 hit plus an extra 50 pips. Look for it to retrace now as 121 was D extension. I will post fib levels shortly!
Good luck and may the odds be ever in your favor!
  • #52,575
  • Dec 5, 2014 10:35am Dec 5, 2014 10:35am
Hardcore lurker here; have to thank all contributors though. Great thread to read at work !
  • #52,576
  • Dec 5, 2014 10:47am Dec 5, 2014 10:47am
Okay guys. Assuming that 121.69 was top, we are looking at a 200+pip retracement. Fib levels are as follows...


A Boundary is 117.24 and the B boundary is 121.69.

.382=119.98
.50=119.47
.618=118.94
.786=118.28
1.618=124.50

A reversal would occur if we breach 117.24.

I am short at 121.53 targeting the .50 retracement level. I believe the move is already starting. With abe's snap election next week, we could see a sell off and then a bull run after the election.
Attached Image (click to enlarge)
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Good luck and may the odds be ever in your favor!
  • #52,577
  • Dec 5, 2014 10:48am Dec 5, 2014 10:48am
Time to short
  • #52,578
  • Dec 5, 2014 10:48am Dec 5, 2014 10:48am
now 121 10 12 96
  • #52,579
  • Dec 5, 2014 11:06am Dec 5, 2014 11:06am
This would be too easy to just go for a retracement. Even if the price drops, first it will dance around the current level for quite a bit, then possibly decline. However, I still see some possible potential up towards 123 level. Based on the historical data some claim 124 level, which is right. Who knows. I am guessing the price can still go down towards 121 level, then possibly rebounce or continue to decrease. It would be safe to say, trading for this week is most likely done. Let's see, however, what the price action shows. For the moment, I will sit back and observe. A small percent of expected profit is still a profit!
  • #52,580
  • Dec 5, 2014 11:08am Dec 5, 2014 11:08am
Quoting myelbow4
Time to short
So risky
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