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USD/JPY Discussion

  • #58,101
  • Oct 7, 2015 7:03pm Oct 7, 2015 7:03pm
1 lot short
119.900

TP1 119.500
  • #58,102
  • Oct 7, 2015 7:06pm Oct 7, 2015 7:06pm
didn't expect this to happen this fast

looking for long entry, until than short
  • #58,103
  • Oct 7, 2015 7:54pm Oct 7, 2015 7:54pm
Quoting SunTrader
If someone is going to go short (or long for that matter) when price is stuck in a range, the time to do it is when it at the top of the range (short) or bottom (long). Not the other way around. HTH
Agree, I was assuming it will break the bottom ... should've take those +2 pips, well .... that's what you get for assuming in forex .... hehe

Trying another short 119.95, sl 120.15
  • #58,104
  • Oct 7, 2015 8:36pm Oct 7, 2015 8:36pm
Quoting liquidice
{quote} Agree, I was assuming it will break the bottom ... should've take those +2 pips, well .... that's what you get for assuming in forex .... hehe Trying another short 119.95, sl 120.15
Don't understand that response.

You agree but yet you are doing it again?
  • #58,105
  • Oct 7, 2015 8:56pm Oct 7, 2015 8:56pm
Quoting SunTrader
{quote} Don't understand that response. You agree but yet you are doing it again?
Hehe ... still learning to analyze here .... I see the price near my MA 200 ... and it was bouncing back down few times on M5 ...

I'm out +2 ... Now I properly waiting for the clear HL cheers.
  • #58,106
  • Oct 7, 2015 9:37pm Oct 7, 2015 9:37pm
Quoting liquidice
{quote} Hehe ... still learning to analyze here .... I see the price near my MA 200 ... and it was bouncing back down few times on M5 ... I'm out +2 ... Now I properly waiting for the clear HL cheers.
Learning is good. All good.

Now as for using a MA of length of 200 on a M5 chart - rethink that. Or a H1 or a H4. I don't see the value on any time frame but if you are going to use a MA the length has to make sense.

A MA5 chart is 1/12 an hour so multiples of 12 - 24/36/48/60/72/84 etc would be more appropriate. Maybe even 288 which would represent a complete 24 hour cycle.
  • #58,107
  • Oct 7, 2015 9:52pm Oct 7, 2015 9:52pm
Quoting SunTrader
{quote} Learning is good. All good. Now as for using a MA of length of 200 on a M5 chart - rethink that. Or a H1 or a H4. I don't see the value on any time frame but if you are going to use a MA the length has to make sense. A MA5 chart is 1/12 an hour so multiples of 12 - 24/36/48/60/72/84 etc would be more appropriate. Maybe even 288 which would represent a complete 24 hour cycle.
Hm.. It does make sense .. so the calculation won't be odd yes? I'm gonna try out few numbers ... thanks buddy ...
  • #58,108
  • Oct 7, 2015 10:04pm Oct 7, 2015 10:04pm
Quoting liquidice
{quote} Hm.. It does make sense .. so the calculation won't be odd yes? I'm gonna try out few numbers ... thanks buddy ...
back at you.
  • #58,109
  • Oct 8, 2015 12:04pm Oct 8, 2015 12:04pm
Quoting liquidice
{quote}Trying another short 119.95, sl 120.15
I took this trade as well but not untill two hours into Tokyo session. Took profit right after London open at 119.700. I can see what Sun is saying and have to admit these 40-60 pip range days are getting old. Might have to start trading G/J instead. At least that pair is still having 100 pip range on the day...
  • #58,110
  • Oct 8, 2015 12:12pm Oct 8, 2015 12:12pm
Quoting hippiedog
{quote} Hey Ngp just updated image url to the thread if you do want more info. Cheers.
Been following along. The strategy makes sense and looks very promising. I guess I would just prefer to hedge my trades as apposed to going into large draw-downs. Other than the great entry spots this kind of reminds me of a grid strategy that you could martingale as well.

US tax code makes me trade on an almost daily basis in order to be considered a day trader or intraday trader. I've gotten used to making daily entries getting 25 pips and just shutting down and going to bed. Some days entering more than once and ridding a larger movement if I get a good entry for it. But lately this pair has found its happy spot and not moving...
  • #58,111
  • Oct 8, 2015 10:49pm Oct 8, 2015 10:49pm
Looks like USD getting strong ... might go long in the next hour or so ...
  • #58,112
  • Oct 8, 2015 10:54pm Oct 8, 2015 10:54pm
Quoting liquidice
Looks like USD getting strong ... might go long in the next hour or so ...
Why do you assume USD getting stronger? Donīt see any signs, rather the opposite actually...
  • #58,113
  • Oct 8, 2015 11:08pm Oct 8, 2015 11:08pm
Quoting geektrader
{quote} Why do you assume USD getting stronger? Dont see any signs, rather the opposite actually...
It keeps making higher low on my m5 chart ...
  • #58,114
  • Oct 8, 2015 11:14pm Oct 8, 2015 11:14pm
Yes, but thats because JPY, not because of USD. And momentum on USDJPY is VERY low, donīt see any break of new highs at all today. It will keep on ranging as usually.
  • #58,115
  • Oct 8, 2015 11:42pm Oct 8, 2015 11:42pm
Quoting geektrader
Yes, but thats because JPY, not because of USD. And momentum on USDJPY is VERY low, dont see any break of new highs at all today. It will keep on ranging as usually.
Ah yes you are right about the yen ... yeah its still ranging ...
  • #58,116
  • Oct 9, 2015 3:05am Oct 9, 2015 3:05am
heading 120,403 ?
do not stand out in the open with gun ;stand in the bushes with knife..
  • #58,117
  • Edited 4:14am Oct 9, 2015 3:49am | Edited 4:14am
Monthly Report of Recent Economic and Financial Developments October 2015
http://www.boj.or.jp/en/mopo/gp_2015/gp1510b.pdf

******
The reversal point can be on :
US Export Price Index (MoM) (Sep)
US Import Price Index (MoM) (Sep)

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Attached Image (click to enlarge)
Click to Enlarge Name: 8D36w029.png Size: 37 KB

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  • #58,118
  • Oct 9, 2015 4:21am Oct 9, 2015 4:21am
Usd/Jpy rises above 120.00 level, next resistance level can be found at 120.57, breakout above would open the door to further gains.
  • #58,119
  • Oct 9, 2015 5:39am Oct 9, 2015 5:39am
IMF this weekend, I expect breakouts and further gains as well.
FREEDOM IS SECURITY.
  • #58,120
  • Oct 9, 2015 5:41am Oct 9, 2015 5:41am
Tp hit 120.24, still going strong... Damn.
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