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USD/JPY Discussion

  • #55,041
  • Jan 28, 2015 6:37pm Jan 28, 2015 6:37pm
I have been long since Friday at 117.756 with a longer term TP at around 120. I'm viewing this yen rally as retracement on weekly TF that hopefully won't go more than 200 pips against me when/if it reverses
  • #55,042
  • Jan 28, 2015 6:43pm Jan 28, 2015 6:43pm
Quoting Trenderer
I have been long since Friday at 117.756 with a longer term TP at around 120. I'm viewing this yen rally as retracement on weekly TF that hopefully won't go more than 200 pips against me when/if it reverses
Agreed. Be patient. We may go to 116 first. Check the Fib retrace levels at 38.2 and 50. I'm buying at both.
Mark
  • #55,043
  • Jan 28, 2015 7:35pm Jan 28, 2015 7:35pm
Looks kind of like descending triangle to me. Quit the longs here and maybe reload sub-117 or if it breaks above 118.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #55,044
  • Jan 28, 2015 7:44pm Jan 28, 2015 7:44pm
Looks like 117.7sh acts as resistance for now, let see if the bulls can break above it.
if 117.7sh stands solid, TP1 117
I short 117.4.
Trade safe, watch your mm
  • #55,045
  • Edited 8:15pm Jan 28, 2015 8:00pm | Edited 8:15pm
Lol that h1 candle! Just wants to break daily R. Moving stops to 117,578.
edit: m15 also on fire. almost marubozu. We reached top of shoulder with last close.
"I know one thing, that I know nothing." Sokrates
  • #55,046
  • Jan 28, 2015 8:15pm Jan 28, 2015 8:15pm
Quoting Idkurv
Looks like 117.7sh acts as resistance for now, let see if the bulls can break above it. if 117.7sh stands solid, TP1 117 I short 117.4. Trade safe, watch your mm
Ouch..break above 117.75
Seek to add short, will see
  • #55,047
  • Jan 28, 2015 8:24pm Jan 28, 2015 8:24pm
Quoting Tom_D_Trader
Lol that h1 candle! Just wants to break daily R. Moving stops to 117,578. edit: m15 also on fire. almost marubozu. We reached top of shoulder with last close.
Great PA reader!
I entered too early, my bad
  • #55,048
  • Jan 28, 2015 8:28pm Jan 28, 2015 8:28pm
Quoting Idkurv
{quote} Ouch..break above 117.75 Seek to add short, will see
Will it break above118.3?
I wish it is not but let see what happens
  • #55,049
  • Edited 8:58pm Jan 28, 2015 8:29pm | Edited 8:58pm
Quoting Idkurv
{quote} Great PA reader! I entered too early, my bad
Nah, just lucky now. Am totally in loss today, floating does not count . Anyway, approaching dangerous levels 118,252 - 118,3 - would be HH, if close above, confirm attempt to break mid. So think we should correct now.
Edit: Squeeeeze! Bam, you aint stopping next H1 candle to be real bad.
"I know one thing, that I know nothing." Sokrates
  • #55,050
  • Jan 28, 2015 8:32pm Jan 28, 2015 8:32pm
Quoting Idkurv
{quote} Will it break above118.3? I wish it is not but let see what happens
i think soo....becoz fed not gave much dovise than marcket thought...bt we will see.at least it will touch 118.24..
  • #55,051
  • Jan 28, 2015 9:14pm Jan 28, 2015 9:14pm
I call it microhold and developing wannabeFlag. Hope my entries will be fine , but think should test 117,8 breakpoint.
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"I know one thing, that I know nothing." Sokrates
  • #55,052
  • Jan 28, 2015 9:53pm Jan 28, 2015 9:53pm
this was my obvious trade today , price bounced for the six time this level O.o is this normal?

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  • #55,053
  • Jan 28, 2015 10:24pm Jan 28, 2015 10:24pm
Short at 118, stop above the high. Can't believe I'm short this thing. Market must be at or very near a bottom.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #55,054
  • Jan 28, 2015 10:36pm Jan 28, 2015 10:36pm
Quoting whatever007
Short at 118, stop above the high. Can't believe I'm short this thing. Market must be at or very near a bottom.
Hello

Got a couple pending shorts above

118.7 to 117 etc

been expecting we bounce

might move this up if it climbs
  • #55,055
  • Jan 28, 2015 10:40pm Jan 28, 2015 10:40pm
Quoting whatever007
Short at 118, stop above the high. Can't believe I'm short this thing. Market must be at or very near a bottom.
I think you shorted a tiny, little bit early.. on 5 minute we just finished a wave 3 and now wave 4 is playing out if it goes very deep then you are saved but if it ends around fib 38.2 it can go higher at least to 118.40.. so please take this into consideration.. my half cents..

Happy Trades
Focus only on what truly matters!
  • #55,056
  • Jan 28, 2015 11:57pm Jan 28, 2015 11:57pm
Would love to see this tank with US markets, but I tend to think downside is limited. Would be nice to get back into the 116's though..
  • #55,057
  • Jan 29, 2015 2:12am Jan 29, 2015 2:12am
I think bear win this battle. Now Find the way to load short at 180
  • #55,058
  • Jan 29, 2015 2:12am Jan 29, 2015 2:12am
Gidday Yen

Enough to give you the screaming shits

did the old jumbo whopper revenge trade

at 117.8 an it dropped 3 times

now my ass is all brand new again

117.9 we bit more would be nice
  • #55,059
  • Jan 29, 2015 2:43am Jan 29, 2015 2:43am
Half of my profit today gone trading gu, gn, ga placing too much lot due to greed.
uj still fine and i place proper lot.
Still making stupid mistake due to bad mm and greed!
  • #55,060
  • Jan 29, 2015 2:49am Jan 29, 2015 2:49am
Quoting Idkurv
Half of my profit today gone trading gu, gn, ga placing too much lot due to greed. uj still fine and i place proper lot. Still making stupid mistake due to bad mm and greed!
Another lesson to learn: if the train has departed, dont chase it, you better stay and wait it comes back and pick you up.
what if it never comes back?
get another train!
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manishsingh