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USD/JPY Discussion

  • #57,721
  • Aug 20, 2015 5:49am Aug 20, 2015 5:49am
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  • #57,722
  • Aug 20, 2015 7:44pm Aug 20, 2015 7:44pm
I have sold all my YEN ​and take holiday today.
  • #57,723
  • Aug 20, 2015 7:48pm Aug 20, 2015 7:48pm
Quoting roger44
I have sold all my YEN ​and take holiday today.
Good. Its due for a bounce anyways. glad somebody caught the move even if it wasn't me
  • #57,724
  • Aug 20, 2015 8:38pm Aug 20, 2015 8:38pm
Buy UJ 123.42. Green pips to all
  • #57,725
  • Aug 20, 2015 9:45pm Aug 20, 2015 9:45pm
have long trades open, floating negative, Do you guys think the dollar would continue to weaken? Or would it bounce? Seems like fomc minutes still beArish since no rAte hike COMING Till in september
  • #57,726
  • Aug 20, 2015 10:14pm Aug 20, 2015 10:14pm
Yen is strong across the board, every yen pair is falling along with the Nikkei. I would at least start to hedge if you haven't already she blew right passed 123. If it stays above 122.800 it may come back next week or even later today but if not it will probably fall to 122. Good luck all still in it, sold all my yen for the week as well going to take a day and spend with the wife.

Cheers,
  • #57,727
  • Edited 10:36pm Aug 20, 2015 10:24pm | Edited 10:36pm
High probability for a bounce. Let the trade come to you. Long @122.85 looking for a bounce to 123.35 with tight SL @122.70

RR a shade better than 3:1

Monthly Pivot - 122.91
Daily S2 - 122.81
50%FIB - 122.84
TL
4H RSI below 20
Daily RSI Below 30

Have a great weekend!
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Pride always comes before destruction.... -Proverbs 16:18
  • #57,728
  • Aug 20, 2015 10:47pm Aug 20, 2015 10:47pm
Quoting Expo33
High probability for a bounce. Let the trade come to you. Long @122.85 looking for a bounce to 123.35 with tight SL @122.70 RR a shade better than 3:1 Monthly Pivot - 122.91 Daily S2 - 122.81 50%FIB - 122.84 TL 4H RSI below 20 Daily RSI Below 30 Have a great weekend! {image}
bring it all the way back to 123.47,123.70,124.00..... sell limits waiting, I can't see 125 again unless boj intervenes. After your bounce I'll take it down!
  • #57,729
  • Aug 20, 2015 10:51pm Aug 20, 2015 10:51pm
Quoting Expo33
High probability for a bounce. Let the trade come to you. Long @122.85 looking for a bounce to 123.35 with tight SL @122.70 RR a shade better than 3:1 Monthly Pivot - 122.91 Daily S2 - 122.81 50%FIB - 122.84 TL 4H RSI below 20 Daily RSI Below 30 Have a great weekend! {image}
Hello Expo33

thanks for sharing this review of the market, I had a hard time finding support, this correlates with my analysis.
I think this is very good research work, I like what you did, I still in the process of learning and I would like to ask:

Question---> what is the name of the indicators that you use on this case, or what is the name of the technique used, so I can research and learn more about it.

once again, thanks for your contribution.

have a successful trade.
  • #57,730
  • Edited 11:25pm Aug 20, 2015 11:07pm | Edited 11:25pm
Quoting zyphex
{quote} Hello Expo33 thanks for sharing this review of the market, I had a hard time finding support, this correlates with my analysis. I think this is very good research work, I like what you did, I still in the process of learning and I would like to ask: Question---> what is the name of the indicators that you use on this case, or what is the name of the technique used, so I can research and learn more about it. once again, thanks for your contribution. have a successful trade.
Thanks!

Nothing complex just the Fibonacci retracement and the Relative Strength Index (RSI), and of course pivot points

The trend lines and channels are just hand drawn, not random, but no set in stone, certainly subjective on my part.

I am looking for confluence (a situation in which two or more things come together or happen at the same time) in this case a level of support confirmed from different indicators, etc etc

Already 20 pips in the green, SL moved to BE. Free trade, done for the week (well except for my Kiwi short disaster)
Pride always comes before destruction.... -Proverbs 16:18
  • #57,731
  • Aug 20, 2015 11:10pm Aug 20, 2015 11:10pm
Quoting Patient1
{quote} bring it all the way back to 123.47,123.70,124.00..... sell limits waiting, I can't see 125 again unless boj intervenes. After your bounce I'll take it down!
Well, it's not my bounce it is just price action which is out of my control. Sounds like you are an MMA fighter "taking price down" to the mat for submission to your will. I wonder if price will "tap out" when it gives in to your strangle hold

GL greens pips to you
Pride always comes before destruction.... -Proverbs 16:18
  • #57,732
  • Aug 20, 2015 11:25pm Aug 20, 2015 11:25pm
Quoting Expo33
{quote} Well, it's not my bounce it is just price action which is out of my control. Sounds like you are an MMA fighter "taking price down" to the mat for submission to your will. I wonder if price will "tap out" when it gives in to your strangle hold GL greens pips to you
haha well sometimes it goes to my will, other times...........with fed and sept getting divorced, I'm thinking the market going to be pricing out some of this usd strength at least in the short term. China devaluing and cutting, sending deflation to usd direct and oil falling with stocks priced generously seems a bad combo. fed really cant move in sept now, they would risk market overshooting, smarter to see how this plays out. Plus if usd did weaken bit here might help curb the fall in stocks and oil until china gets situated......... Not sure price going to get all of the levels, but I think a good chance to see 121.xx and I think 125.xx in short term 1-2 weeks unlikely..
  • #57,733
  • Aug 20, 2015 11:57pm Aug 20, 2015 11:57pm
Quoting Expo33
{quote} Thanks! Nothing complex just the Fibonacci retracement and the Relative Strength Index (RSI), and of course pivot points The trend lines and channels are just hand drawn, not random, but no set in stone, certainly subjective on my part. I am looking for confluence (a situation in which two or more things come together or happen at the same time) in this case a level of support confirmed from different indicators, etc etc Already 20 pips in the green, SL moved to BE. Free trade, done for the week (well except for my Kiwi short disaster)
thanks for the info.

I will devote a couple of weeks to study the topics that you mention, thanks again for sharing.

Im glad to hear that you had a good week, have a great weekend.
  • #57,734
  • Aug 21, 2015 12:24am Aug 21, 2015 12:24am
Quoting Expo33
{quote} Well, it's not my bounce it is just price action which is out of my control. Sounds like you are an MMA fighter "taking price down" to the mat for submission to your will. I wonder if price will "tap out" when it gives in to your strangle hold GL greens pips to you

no trading is one hundred percent, but the technicals always work better when your on the right side fundamentally
  • #57,735
  • Aug 21, 2015 2:45am Aug 21, 2015 2:45am
Seems that the UJ is in mood to re-test 121.80-70 area.
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  • #57,736
  • Aug 21, 2015 4:08am Aug 21, 2015 4:08am
I am expecting UJ to retest 123.80 - 124sh
will see.
  • #57,737
  • Aug 21, 2015 7:26am Aug 21, 2015 7:26am
The pair is likely to trade in the lower ranges as long as it trades below the key level 122.91. As long as the pair trades below the key level, I go short the tagret 122.
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  • #57,738
  • Aug 21, 2015 8:18am Aug 21, 2015 8:18am
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  • #57,739
  • Aug 21, 2015 9:04am Aug 21, 2015 9:04am
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  • #57,740
  • Aug 21, 2015 9:04am Aug 21, 2015 9:04am
Quoting SteeP7
{image}
Dollar index Chart
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