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  • #841
  • Dec 12, 2014 10:50am Dec 12, 2014 10:50am
Ok, so you mean because of London activity (heavy) plus thin liquidity it moves a lot, whatever up or down.
  • #842
  • Dec 12, 2014 10:50am Dec 12, 2014 10:50am
Quoting bccorp
Ok, so you mean because of London activity (heavy) plus thin liquidity it moves a lot, whatever up or down.
Precisely.
  • #843
  • Dec 12, 2014 10:52am Dec 12, 2014 10:52am
got to go for a bit be back a little later... here's to UJ Bulls having taken control by then
  • #844
  • Dec 12, 2014 10:54am Dec 12, 2014 10:54am
Ok thanks.

Then what do you think is behind the UP side of EURO (apologize I know this thread is only on USD/JPY, in some cases other markets are of indications for understanding)? I mean on the informations side? Or would it be purely technically...? I am every time puzzling about this because I believe there is always an information reason behind moves, past effects or futur expactions or contrast between several markets inter-attached...
  • #845
  • Dec 12, 2014 10:55am Dec 12, 2014 10:55am
In view of price being trapped between D1 8/20 EMAs, and consolidating, if you're into the triangle type of thing, there's also that, to show the consolidation.

But again, if price starts moving below the D1 20 EMA (or 200 EMA as posted by Susilk) then there's a concern.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 53 KB
  • #846
  • Dec 12, 2014 10:59am Dec 12, 2014 10:59am
Riz London closes at 5pm so next 3 mins or so.

Taking profit day as well on friday - so might have been let the bulls have their way then just take the profits.
  • #847
  • Dec 12, 2014 11:00am Dec 12, 2014 11:00am
Also, in above chart, notice the last punch through 8 EMA (yellow), and latest support of 20 EMA. Could this show bulls strength keeping above 20 EMA and bears weakness unable to keep it below 8 EMA? Maybe just me, but I believe when price is around these 2 EMAs, it says a lot about who's in control...

Having said all of what I just posted, though, it doesn't appear to me that we'll see any decisive move from the price action today, but will probably remain in consolidation. That is unless either Bulls lose the 20, or Bears lose the 8, but just seems like there's more consolidation to play out...
  • #848
  • Dec 12, 2014 11:02am Dec 12, 2014 11:02am
Quoting Sunsilk
Riz London closes at 5pm so next 3 mins or so. Taking profit day as well on friday - so might have been let the bulls have their way then just take the profits.
Whoops you are right...I forgot central time is one hour behind me! LOL
  • #849
  • Dec 12, 2014 11:05am Dec 12, 2014 11:05am
Quoting Rizmeister
{quote} Whoops you are right...I forgot central time is one hour behind me! LOL
Lol it should start using that support to bounce off. We finish the day slightly higher with the election results (if go to Abe) pushing this up to around the 200EMA on H1.

This definitely gets your blood pumping ha.
  • #850
  • Dec 12, 2014 11:06am Dec 12, 2014 11:06am
Quoting Sunsilk
{quote} Lol it should start using that support to bounce off. We finish the day slightly higher with the election results (if go to Abe) pushing this up to around the 200EMA on H1. This definitely gets your blood pumping ha.

  • #851
  • Dec 12, 2014 11:11am Dec 12, 2014 11:11am
Here's a close up view of good low risk buying opportunity right now. If I was at my computer on the last swing up, I would have TP. Should be a nice bull push rest of day, hopefully...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 53 KB
  • #852
  • Dec 12, 2014 11:12am Dec 12, 2014 11:12am
Quoting benaiah
Here's a close up view of good low risk buying opportunity right now. If I was at my computer on the last swing up, I would have TP. Should be a nice bull push rest of day, hopefully... {image}

  • #853
  • Dec 12, 2014 11:16am Dec 12, 2014 11:16am
Quoting benaiah
Here's a close up view of good low risk buying opportunity right now. If I was at my computer on the last swing up, I would have TP. Should be a nice bull push rest of day, hopefully... {image}
It loves to stutter around this point. 118.26-50

Waiting for it to break upwards a bit.

I am happy still..Nice for this bar to close in green then move higher.
  • #854
  • Dec 12, 2014 11:20am Dec 12, 2014 11:20am
Quoting Sunsilk
{quote} It loves to stutter around this point. 118.26-50 Waiting for it to break upwards a bit. I am happy..Nice for this bar to close in green then move higher.
Good point.
  • #855
  • Dec 12, 2014 11:28am Dec 12, 2014 11:28am
Quoting dbutton1990
Guys....bulls are dead...I feel this HS pattern is going to dump this pair back down to 115-110 {image}
You may be right. However, this is actually really interesting.

I feel if it would have gone down to 115 it would have started making in roads to that already.

I think that if it was any kind of trend reversal we would have seen the last significant low of 117.25 broken on a daily chart. I recon that would have given it significant traction to move further down and test lower levels.

Of course it still might but I think this corrective phase is starting to look more on the upside now.

A restest of the lower level and a break of that and then I would be looking at significant shorting opportunities
  • #856
  • Dec 12, 2014 11:29am Dec 12, 2014 11:29am
I'm back in long after seeing the bulls defended the 118 level nicely. I made some pips on the way back down though Hopefully we make new highs from here!
Good luck and may the odds be ever in your favor!
  • #857
  • Dec 12, 2014 11:29am Dec 12, 2014 11:29am
Quoting Sunsilk
{quote} You may be right. However, this is actually really interesting. I feel if it would have gone down to 115 it would have started making in roads to that already. I think that if it was any kind of trend reversal we would have seen the last significant low of 117.25 broken on a daily chart. I recon that would have given it significant traction to move further down and test lower levels. Of course it still might but I think this corrective phase is starting to look more on the upside now. A restest of the lower level and a break of that and...

  • #858
  • Dec 12, 2014 11:30am Dec 12, 2014 11:30am
Quoting dbutton1990
I'm back in long after seeing the bulls defended the 118 level nicely. I made some pips on the way back down though Hopefully we make new highs from here!


Nice.

Seems like a good trade to take.

I am in with ya
  • #859
  • Dec 12, 2014 11:36am Dec 12, 2014 11:36am
No worries yet guys! Bulls are alive and strong. I think the weird price action (and spikes) can cause panic from time to time. We need to focus on the bigger picture.

Obviously opportunities both ways in this ranging environment. And one reason for 2 threads bulls/bears, is that it is easier to see where most traders are posting and what their bias is. We have several obviously experienced traders in this thread. If they all go to the bears thread, then we can all give up our longs, or follow them to the bears thread. Safe trading everyone!
  • #860
  • Dec 12, 2014 11:36am Dec 12, 2014 11:36am
Quoting Sunsilk
{quote} Nice. Seems like a good trade to take. I am in with ya
Good to hear! This thread definitely keeps me grounded. It's a pleasure to be trading with all of you!
Good luck and may the odds be ever in your favor!
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