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USD/JPY Discussion

  • #56,021
  • Feb 17, 2015 5:38pm Feb 17, 2015 5:38pm
Quoting erjagope
Can the BoJ Press Conference help us to brake the 119.33 | 119.50 resistence? or help us to complete the head shoulder pattern?
Yes and no. There will be a lot of support in the mid 118's.
Mark
  • #56,022
  • Edited 9:49pm Feb 17, 2015 9:07pm | Edited 9:49pm
went short usdyen 11913 and 11916 on inside break of 23.4 an 73.6 stoch -- fib made on Y/days range
the 100 and 0 are from the high/low of yesterday..
--Target as well as stop is when the 1 hour stoch crosses back over 76.4--
emergency stop above 2 prior candles @11935
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Learn THEN Unlearn
  • #56,023
  • Feb 17, 2015 9:38pm Feb 17, 2015 9:38pm
Trying short ..........

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  • #56,024
  • Feb 17, 2015 9:50pm Feb 17, 2015 9:50pm
Short..... Target 118.70...... I'M looking for short profit at the moment.....today we have FOMC minute....a lot of traders I think its waiting for FOMC Minutes

It is my humble opinion.
  • #56,025
  • Feb 17, 2015 10:41pm Feb 17, 2015 10:41pm
Quoting jasakreatif
imo , so far, technically at daily look good for short only , i'm waiting at one place for reentry {image}
spike down , interesting to in short

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  • #56,026
  • Feb 18, 2015 3:13am Feb 18, 2015 3:13am
19.35 to 18.85 ....ranging ....
Position sizing, risk & phycology management are real definition of trading
  • #56,027
  • Feb 18, 2015 3:26am Feb 18, 2015 3:26am
Quoting Hr4x
19.35 to 18.85 ....ranging ....
whatever is gonna happen is gonna happen within the next 2 hours... ive reloaded for the night Lets hope we see nothing but profits in the morning
  • #56,028
  • Feb 18, 2015 4:35am Feb 18, 2015 4:35am
My longs are looking good so far!
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  • #56,029
  • Feb 18, 2015 4:36am Feb 18, 2015 4:36am
Quoting emanco
My longs are looking good so far! {image}
wow reminds me of the day in december when people like you got chopped when suddenly usd/jpy fell 200 pips
  • #56,030
  • Feb 18, 2015 4:59am Feb 18, 2015 4:59am
Quoting emanco
My longs are looking good so far! {image}
you have balls of steel! I have only one long from 118.50, would be happy if it reaches 120.40 ...
edit: you are buying heavy and everybody is shorting the 'shoulder' that's why price stacked @119.20
Money is made by sitting, not trading. Jesse L. Livermore
  • #56,031
  • Feb 18, 2015 5:18am Feb 18, 2015 5:18am
I don't trust much H&S but if the pattern can drive price to E than we could hopefully end this 4th wave and move higher for the 5th.
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Per aspera ad astra
  • #56,032
  • Feb 18, 2015 6:08am Feb 18, 2015 6:08am
short 119 70 - 120 and pull back
  • #56,033
  • Feb 18, 2015 6:18am Feb 18, 2015 6:18am
Quoting sam69
{quote} you have balls of steel! I have only one long from 118.50, would be happy if it reaches 120.40 ... edit: you are buying heavy and everybody is shorting the 'shoulder' that's why price stacked @119.20
Nah, I just have big picture in mind. USDJPY is bullish on the daily chart. I'm covered by the early entry. Patience is key. I could just scalp the thing, but it's stressful. This way I just leave pending orders and let it run. It should breach 120 in the next weeks.
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  • #56,034
  • Feb 18, 2015 6:37am Feb 18, 2015 6:37am
Maybe I'm imagining this but don't you guys see a H/S (with the right shoulder slowly forming) on the 4hr?
Lost....
  • #56,035
  • Feb 18, 2015 7:48am Feb 18, 2015 7:48am
Guys, am really, really confused here. Does it only look like this, but you actually aint focusing on the same thing like me? See, was a massive uptrend breaking triangle up and running to new highs. Then came a very clear hoax BoJ is ending with easing and all idiots panicked and bought Yen. So now, when BoJ officially denied these rumours.... am wondering wtf is Yen headed. Yeah, looking at cable, Geppy better trade, but imo Yen overall very clear trade.
"I know one thing, that I know nothing." Sokrates
  • #56,036
  • Feb 18, 2015 7:59am Feb 18, 2015 7:59am
Quoting Tom_D_Trader
Guys, am really, really confused here. Does it only look like this, but you actually aint focusing on the same thing like me? See, was a massive uptrend breaking triangle up and running to new highs. Then came a very clear hoax BoJ is ending with easing and all idiots panicked and bought Yen. So now, when BoJ officially denied these rumours.... am wondering wtf is Yen headed. Yeah, looking at cable, Geppy better trade, but imo Yen overall very clear trade.
To me looks like 119.20 is line in the sand. Decent sized wicks on 4 hour candles. Seems like it should be going up but it is being held back. I guess its waiting on fomc minutes
  • #56,037
  • Feb 18, 2015 8:00am Feb 18, 2015 8:00am
Quoting Tom_D_Trader
Guys, am really, really confused here. Does it only look like this, but you actually aint focusing on the same thing like me? See, was a massive uptrend breaking triangle up and running to new highs. Then came a very clear hoax BoJ is ending with easing and all idiots panicked and bought Yen. So now, when BoJ officially denied these rumours.... am wondering wtf is Yen headed. Yeah, looking at cable, Geppy better trade, but imo Yen overall very clear trade.
Looks like a big sideways consolidation to me, 115-120. Overall up trend hasn't changed any but could take a few more weeks even months to get going again.

We could dip back to the 118.3 weekly low area if FOMC minutes are dovish this afternoon. Good experienced traders can make money boths ways. Hacks like myself should probably stick to buying the dips.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #56,038
  • Feb 18, 2015 8:17am Feb 18, 2015 8:17am
Quoting whatever007
{quote} Looks like a big sideways consolidation to me, 115-120. Overall up trend hasn't changed any but could take a few more weeks even months to get going again. We could dip back to the 118.3 weekly low area if FOMC minutes are dovish this afternoon. Good experienced traders can make money boths ways. Hacks like myself should probably stick to buying the dips.
Oh yes. Thats unfortunately pretty valid scenario. Not that they were stopping with easing, but as far as I understood BoJ wishes to keep UJ in 110-120 corridor, so maybe the hoax was just on purpose to keep UJ in range. Am focusing the same like you, beeing dip on FOMC. Could be fast and I believe 118,54 monthly holds +- few - 118,3 would be perf low for me before testing new highs. Think Geppy now better trade, USD dangerous.

+ chart - currently fighting for golden weekly and preparing to thrust to 118,7-118,8 to complete dislocated shoulder. Should weekly hold, we get cup n handle break above. I hope. But now am very inclined for mid retest.
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"I know one thing, that I know nothing." Sokrates
  • #56,039
  • Feb 18, 2015 8:34am Feb 18, 2015 8:34am
Yeah, I'll probably try some longs at 118.80/90 if we get there today and see if they stick.

GJ looks good. Even EJ. Maybe from a bit lower than it is now. That thing is 1500 pips off it's high from December. Have to figure euro is due for a dead cat bounce if nothing else. The Greece crap always seems to end the same way. Kick the can down the road and forget about it until next year.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #56,040
  • Feb 18, 2015 8:45am Feb 18, 2015 8:45am
Yeh I saw many people trading E/J. Yesterday was Eur buy, my portfolio sinked a bit. But I have already scubadived up and floating profit now . Hope fkin Eur wont turn around again.
"I know one thing, that I know nothing." Sokrates
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