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USD/JPY Discussion

  • #53,141
  • Dec 10, 2014 3:06pm Dec 10, 2014 3:06pm
Quoting Liam0530
this market sell off is bullshit, dont really get it, all off of that nfp print highest in years...
dont read into anything.. look at the resistance on the monthly

not really surprised dollar has taken a hit this week after every media was saying how good it is
Do what's right for you
  • #53,142
  • Dec 10, 2014 3:09pm Dec 10, 2014 3:09pm
Quoting LouiseZA
{quote} Two hrs ago i would have said impossible. It looks well on it way to 117.200 and as you said even less!!
Im not kind of guy who likes to brag and say "i told you so" but hey nothing goes in one straight line! UJ was due for retrace but nfp numbers pushed it much further, hence the sharp declined occurred the week after.
Try to think of it as getting the opportunity to learn ng at a much better rate for a ride to new highs (not saying this is happening any soon, it all depends on when would PA stars to stall)
all the best!
  • #53,143
  • Dec 10, 2014 3:10pm Dec 10, 2014 3:10pm
Quoting momochi
{quote} dont read into anything.. look at the resistance on the monthly not really surprised dollar has taken a hit this week after every media was saying how good it is
yeah i posted a chart earlier this week of supply zone we entered, didnt follow my own PA and instincts and didnt short smh.. live and learn.......
  • #53,144
  • Dec 10, 2014 3:11pm Dec 10, 2014 3:11pm
Quoting fxmasterdxb
UJ was due for retrace but nfp numbers pushed it much further, hence the sharp declined occurred the week after
agree, the lack of rejection from 120 was telling
Do what's right for you
  • #53,145
  • Dec 10, 2014 3:12pm Dec 10, 2014 3:12pm
Quoting Liam0530
this market sell off is bullshit, dont really get it, all off of that nfp print highest in years.... like i have said, this correction probably needed before fomc suprises us next week got my margin tied up with longs, had to let a big 1 go... big loss this week, first loss since 101.7 pullback
as they say “The market can stay irrational longer than you can stay solvent!”
As Above, So Below
  • #53,146
  • Dec 10, 2014 3:19pm Dec 10, 2014 3:19pm
After a Long time jpy crossed the cloud in 4 hours.. we can seriously expect lot more downside.
Attached Image
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #53,147
  • Dec 10, 2014 3:29pm Dec 10, 2014 3:29pm
Quoting Liam0530
{quote} yeah i posted a chart earlier this week of supply zone we entered, didnt follow my own PA and instincts and didnt short smh.. live and learn.......
Cry Baby
  • #53,148
  • Dec 10, 2014 3:34pm Dec 10, 2014 3:34pm
Quoting sgkrishn
After a Long time jpy crossed the cloud in 4 hours.. we can seriously expect lot more downside.
Yes, true. There is a crossover coming up early next week on 4h. The election results will play it's part. Hope it will be good news for the longs!
  • #53,149
  • Dec 10, 2014 5:15pm Dec 10, 2014 5:15pm
Quoting skyway
Anybody listening?
Nobody listens to me anymore
Please check out my blog at https://from-zero-to-hero . net
  • #53,150
  • Dec 10, 2014 5:19pm Dec 10, 2014 5:19pm
anyone trading this thing during asia?
  • #53,151
  • Dec 10, 2014 5:21pm Dec 10, 2014 5:21pm
Quoting society
anyone trading this thing during asia?
Everybody does
  • #53,152
  • Edited 6:27pm Dec 10, 2014 6:16pm | Edited 6:27pm
Quoting smash1820
{quote} Nobody listens to me anymore
All is good. Some peeps have quietly sold this baby who knows. Anyway BoJ Kuroda intervention is seen at the same lower 118 level but failed. You know what that means right ?

***Kuroda is around with agenda.....Bears remember to take your profit or set trailing stop at 118. TP target 115.5
  • #53,153
  • Dec 10, 2014 6:18pm Dec 10, 2014 6:18pm
More printing!?
  • #53,154
  • Dec 10, 2014 6:24pm Dec 10, 2014 6:24pm
Quoting Rizmeister
More printing!?
Too soon. New gov to settle in then decide what to do with the mess.
  • #53,155
  • Dec 10, 2014 6:33pm Dec 10, 2014 6:33pm
Quoting skyway
{quote} Too soon. New gov to settle in then decide what to do with the mess.
New gov? It's pretty much guarenteed to be Abe though isnt it?
  • #53,156
  • Dec 10, 2014 6:38pm Dec 10, 2014 6:38pm
Quoting Sunsilk
{quote} Profit is profit.
Read your last post over the other thread .....A bit of advice mate. The permanent bull bias is a definite big influence on your trading style, much more than you think. On any other given day I believe you are flexible enough to have shorted according to your rules. If you stay on with it you will become a permanent bull regardless whether the market is bullish or bearish. Is this your preferred trading style ?
  • #53,157
  • Dec 10, 2014 6:48pm Dec 10, 2014 6:48pm
Quoting skyway
{quote} Read your last post over the other thread .....A bit of advice mate. The permanent bull bias is a definite big influence on your trading style, much more than you think. On any other given day I believe you are flexible enough to have shorted according to your rules. If you stay on with it you will become a permanent bull regardless whether the market is bullish or bearish. Is this your preferred trading style ?
Thanks for the advice. For this pair you are right, it was definitely. I haven't hidden that. Trading UJ isn't the same as trading other pairs. This before this week the pair was ridiculously bullish. To be honest because I have been looking for opportunities to go long I have missed the short. But oh well. Can't be expected to get every set up.
  • #53,158
  • Dec 10, 2014 7:19pm Dec 10, 2014 7:19pm
There you are ... patience is virtue,,, 61.8 is also hit. 5th wave completed. Congrats to those who shorted . Now expect a deep retracemet unless 5th wave decides to extend itself but UJ looks very oversold at the moment. here is the chart

Retracement targets are on next chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ 61.8.JPG Size: 150 KB
Click to Enlarge Name: UJ ret.JPG Size: 164 KB
STING
  • #53,159
  • Dec 10, 2014 7:22pm Dec 10, 2014 7:22pm
Quoting stringfx
There you are ... patience is virtue,,, 61.8 is also hit. 5th wave completed. Congrats to those who shorted . Now expect a deep retracemet unless 5th wave decides to extend itself but UJ looks very oversold at the moment. here is the chart Retracement targets are on next chart {image} {image}
Hey String,

You trade Elliot wave theory right?

I am not familiar with it. If the wave 5 chose to over extend, is there an average it usually overextends?

Does that make sense?
  • #53,160
  • Dec 10, 2014 7:30pm Dec 10, 2014 7:30pm
Quoting momochi
tried long, was waiting for it to touch 117.69 - didnt catch it there though, 117.80is stop at 117.59
tried again at 117,50 should of waited a tad more. out now with overall proft. looks like its going for it now but tired and content will check in morning
Do what's right for you
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