USDJPY takes out 122.00 offers and triggers stops in a rush | Forex Factory

  • USDJPY takes out 122.00 offers and triggers stops in a rush

    From forexlive.com

    I said earlier that the pair looked supported but faced a fresh wave of offers at 122.00 Well it didn't take long to clear them out and now hearing of stops triggered to post 122.36 so far EURUSD also buckling under the USD demand at 1.0914 with GBPUSD lower again at 1.5430 support lines finding further demand from EURGBP selling to 0.7073 so far USDCAD also enjoying a leg up toward 1.2329 Asian highs

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michaelpelly
May 26, 2015 1:20pm
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Dude, 215 pips is ridiculous with the risk of possible reversal bellow 121.xx.

I did 4000+ pips on the cable movement from 1.46xx to 1.58xx with several positions - not using bots, or whatever...and the risk was minimal after cable started to climb and got my first positions zero-profited.
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michaelpelly
May 26, 2015 2:40pm
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Quoting iumoren
When my vigilant bots have anchored profits at current Stop Loss of 122.562 (versus entry points of 120.8xx)....with 176+ Pips secured profit, there is nothing ridiculous. The trades are winners.
You missed the point - daily reversals have huge advantage in R:R ratio compared to daily breakouts.
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Josh44
May 26, 2015 6:15am
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Funny thing is the 5 day ADR is around 60. You could say it passed that a little. With that kind of momentum I dont see it going below the 50% ret of the daily low. Maybe even the 38 with that kind of momentum.
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Nilfmonkey
May 26, 2015 9:01am
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Quoting Guest
how much would you loose if your stop loss would have been triggered?
mmm I don't trade with an sl, soooo that's kind of a philosophical question for me.....

Quoting michaelpelly
Cool! :-)

When you gonna give us a ride? ;-)
Anytime, I'll just airlift it to Bulgaria for you, ok? My winnings should cover that too B)
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Davit
May 26, 2015 2:53am
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Euro weakness triggering panic moves.On its own US data is actually negative but does not stop Yellen about rates endlessly causing extreme volatility.
That women should stop talking
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michaelpelly
May 26, 2015 2:41am
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Quoting Nilfmonkey
whoever caused that just bought me a new car
Cool! :-)

When you gonna give us a ride? ;-)
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dbutton1990
May 26, 2015 1:28pm
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USDJPY finally breaking out of consolidation. Let's see where it will take us!! Forecasts earlier this year said 130.xx
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tomiko
May 26, 2015 2:55am
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Quoting manahil
drama
can't agree more, mate.
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tomiko
May 26, 2015 2:56am
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Quoting Guest
How could this possibly have happened? My RSI was already showing overbought.
"they" don't use RSI to move the market, pal.
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Ojiego
May 26, 2015 2:58am
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No drama guys, Market Makers are doing their job, which is to bring about volatility!! So, nothing to see here I am afraid.
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love.l0ve
May 26, 2015 4:21am
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Why i use price action and win, other use RSI and lose?
Both of them is TA, so what cause a result?
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clasgolf
May 26, 2015 4:42am
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Ignore the indices...trade the movement of the charts...the old and tested ABCD. Traders get to technical in my view.
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clasgolf
May 26, 2015 4:45am
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i only made 87 pips..just over $400. But thats in the bank...now waiting for the retracement and another buy in the usd/jpy at maybe around 122.50
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clasgolf
May 26, 2015 4:47am
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2.30hrs to important us news
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senanata
May 26, 2015 1:51am
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Awesome!!
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Nilfmonkey
May 26, 2015 1:57am
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whoever caused that just bought me a new car
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iumoren
May 26, 2015 12:57pm
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I have earlier said to my audience today:

"With best trading tools, Forex outperforms all other businesses by profitability."

Why all these guess works in Forex?

There is no room for guessing here!

And I have added:

"Forex exists because there are "WINNERS" and "LOSERS". "LOSERS" prevail to maintain equilibrium (market balance)!"

To avoid biting hard your fingers when you miss excellent trading chances, why not settle down and spend time to learn this "tricky" but "intelligent business" named "Forex"?

Since 20th May my bots went long on USDJPY, and are still holding positions till now....with floating 215+ Pips gains!

Why the hell all the guess works when Forex is pure science packed with mathematical possibilities?
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iumoren
May 26, 2015 1:55pm
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Quoting michaelpelly
Dude, 215 pips is ridiculous with the risk of possible reversal bellow 121.xx.
When my vigilant bots have anchored profits at current Stop Loss of 122.562 (versus entry points of 120.8xx)....with 176+ Pips secured profit, there is nothing ridiculous. The trades are winners.
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iumoren
May 26, 2015 6:10pm
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Quoting michaelpelly
You missed the point - daily reversals have huge advantage in R:R ratio compared to daily breakouts.
Noted, but my bots do not hunt for quick, daily profits. They focus on the "average price" of an instrument "now" and "in the near future".
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manahil
May 26, 2015 1:41am
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drama
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Trader#AC74
May 26, 2015 2:20am
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Quoting Guest
How could this possibly have happened? My RSI was already showing overbought.
laughing my butt off, oscillators can stay in those area for a long time while it rallies up or down. newbie.
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ndog
May 26, 2015 3:42am
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fvckin strong USDJPY gonna reach what? 130? 150? 200? or even 1000?
yes, market makers are doing their job, which is playin drama. lol.
they breaks the high to slam, and they dip to fly. hahaha
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Harmonic07
May 26, 2015 4:20am
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drama ?? lololol the CPI 0.3% last week already signaled a break above of the daily triangle. Nothing is unexpected here. Let the 'catch the top' game begin
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winnervps
May 26, 2015 4:36am
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8 years high??? cool! what will be the next target then? 125?
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iumoren
May 29, 2015 2:20am
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USDJPY likely to target 5-year high of 135.014 before it retreats.

My bots opened new BUY USDJPY positions yesterday at 123.9XX entry points.
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Trader#2D9C
May 26, 2015 2:09am
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How could this possibly have happened? My RSI was already showing overbought.
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Trader#14BD
May 26, 2015 2:29am
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Quoting Nilfmonkey
whoever caused that just bought me a new car
how much would you loose if your stop loss would have been triggered?
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Trader#E8D2
May 26, 2015 2:39am
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hahaha there is no concrete over bought/sold in fact.. .its just shows the momentum or sentiment of the trade....
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Trader#B5DD
May 26, 2015 2:42am
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Quoting Nilfmonkey
whoever caused that just bought me a new car
whoever caused that just bought me a new house.
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Trader#B5D1
May 26, 2015 4:50am
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I use Rsi and macd an i was long The indicators are awesome
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