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USD/JPY Discussion

  • #59,301
  • Feb 10, 2016 9:50am Feb 10, 2016 9:50am
Well it's quite exhausted, 7 strong bearish candlesticks on daily. One would expect a nice pullback around the corner I guess. Problem is entry, will it record a lower low or just retrace from here?
  • #59,302
  • Feb 10, 2016 9:52am Feb 10, 2016 9:52am
Quoting Poole
{quote} sl at 120.97 tp at 108.09 or sl at 114.75 tp at 113.50? what u got?
sl 113.60 tp 114.40-70 but no sl with audjpy, depends on PA (entry 80.70)
As Above, So Below
  • #59,303
  • Feb 10, 2016 10:04am Feb 10, 2016 10:04am
Quoting tashkent
{quote} sl 113.60 tp 114.40-70 but no sl with audjpy, depends on PA (entry 80.70)
Nice, Tx
Keep calm and trade on
  • #59,304
  • Feb 10, 2016 11:58am Feb 10, 2016 11:58am
Quoting Poole
{quote} Nice, Tx
trade failed. i am out with 10 pip loss. i think need some break from uj.
happy trading.
As Above, So Below
  • #59,305
  • Feb 10, 2016 12:13pm Feb 10, 2016 12:13pm
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A song for Kuroda and Abe, seeing candle monthly USD JPY
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  • #59,306
  • Edited 3:47pm Feb 10, 2016 3:26pm | Edited 3:47pm
Yellen failed to impress. UJ fell flat on its face for 200 pips pushing UJ well under 114.00 and it's monthly support channel (as many of you have already pointed out).
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #59,307
  • Feb 10, 2016 4:53pm Feb 10, 2016 4:53pm
Having fun with Asian trading few nights
Was aiming for the stop level. stronger than I expected. No news.
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  • #59,308
  • Feb 10, 2016 5:03pm Feb 10, 2016 5:03pm
Could continue.

Not enough Info for me on, looked for a strong continued push down.

Im out
+ 37
- 4
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  • #59,309
  • Feb 10, 2016 5:12pm Feb 10, 2016 5:12pm
Where is it going to stop
  • #59,310
  • Feb 10, 2016 5:14pm Feb 10, 2016 5:14pm
time for "heroes"
the show starting.
As Above, So Below
  • #59,311
  • Feb 10, 2016 5:18pm Feb 10, 2016 5:18pm
within few minutes in Asia, 100 pips. lol.

No technical here.
Intraday only.
  • #59,312
  • Feb 10, 2016 5:22pm Feb 10, 2016 5:22pm
Quoting Ken A
Where is it going to stop

112.50 Psyche level ?

EDIT:
Had more to the post before. Only to watch 112.50 make a baby bounce for now.

Im staying out for now.
  • #59,313
  • Feb 10, 2016 5:25pm Feb 10, 2016 5:25pm
Quoting Ken A
Where is it going to stop
The million dollar question
don't get in love with pairs ... up or down is the same pip value
  • #59,314
  • Feb 10, 2016 5:26pm Feb 10, 2016 5:26pm
Quoting RideTheWave
{quote} 112.50 Psyche level ? EDIT: Had more to the post before. Only to watch 112.50 make a baby bounce for now.
Nikkei is making a LL

Watching and waiting to bid

Quoting Hollyforex
{quote} The million dollar question
Hope you booked something during Yellen testify
  • #59,315
  • Feb 10, 2016 6:08pm Feb 10, 2016 6:08pm
Quoting Ken A
{quote} Nikkei is making a LL Watching and waiting to bid {quote} Hope you booked something during Yellen testify
The previous finance minister was right I suppos when he said the YEN would hit 112 this year. I reckon now though we will have the same run towards 120. Just a matter of when though. Looks like Morgan Stanley was right on this call and Goldman Sachs was wrong. This year Goldman Sachs has been wrong on many calls. They also said Gold was going to 1000 and it went to 1200
  • #59,316
  • Feb 10, 2016 6:32pm Feb 10, 2016 6:32pm
Quoting Blackopal
{quote} On the weekly chart it closed with HUGE bearish candle engulfing two previous weekly closes. The bottom of the engulfing candle's body is 19 pips below the opening of the body of the lowest whole candle dated 2 Feb 2015 on the rising side of the Head and Shoulder pattern formed from November 2014. Thoughts on this development? Engulfing weekly candle sending strong signal more drops to come. At what point would we have confirmation of break of year long Head and Shoulder pattern and what target if it occurs? 700 pip decline from neckline?...
I posted this Feb. 6th before it became headline news. I didn't expect such a sudden and sharp reaction to the charts. Also, unfortunately, i got almost no response from the "old timers" here, so I doubted my own expectations would be realized. Nonetheless I've been in for the ride from the start, but cautiously in and out taking profits and never risking more than 2% of my account. Was out last night, but fortunately got out of work early and read Yellen's report. A KEY phrase early in the report ....

" Over the course of the year, subdued foreign growth and the APPRECIATION OF THE DOLLAR RESTRAINED NET EXPORTS. In the fourth quarter of last year, growth in the gross domestic product is reported to have slowed more sharply, to an annual rate of just 3/4 percent; again, growth was held back by weak net exports as well as by a negative contribution from inventory investment."

THEY WANT THE DOLLAR TO DROP. But it would be politically incorrect to say it outright. Japan for one would be outraged.

The Market Maker Manipulators knew this was coming. They pushed gold down yesterday and got set. After Yellen's speech they pushed the USD pairs up and took out weak positions. Then there was a MASSIVE instantaneous coordinated hit up on gold and down on all U.S. pairs. I saw the reversal and got back short USD/YEN. I'm only a minnow, but I'm doing a super charged FX self education course, have made hundreds of trades, and I've turned a corner and showing good profits, playing safe, and learning from all of you on these forums. And I'm absolutely stunned by what charts can predict. Love the broken head and shoulder patterns.
  • #59,317
  • Feb 10, 2016 6:34pm Feb 10, 2016 6:34pm
The range of the past 8 days is almost equal to the range for the whole of 2015. To say that this move is overextended is a big understatement. Everyone is now talking about a possible BOJ intervention, after the yen appreciated 8% in 8 days. Not sure if the bank holiday will deter them from acting today or perhaps they will wait for Yellen/s testimony to be done later. Whatever the catalyst might be for a correction, boj intervention or something else, a long here at 113ish with 100 pips initial stop and initial target at 116 seems like a good idea. Given the nature of the down move, I would expect the retracement to potentially be as fast and violent...
  • #59,318
  • Feb 10, 2016 6:34pm Feb 10, 2016 6:34pm
With so many people throwing random numbers around without giving valid reasons - eventually something will stick

If he shorted at 125.8x then congrats to his +1300 pips in the bank right now. If not then better luck next time. Posting predictions and actually making money from trading are two different things.
  • #59,319
  • Feb 10, 2016 7:12pm Feb 10, 2016 7:12pm
Just to clarify, a lot of what I said above is knowledge gained from hindsight, which I hope will help me in the future. And hundreds of those trades I made were losers. Only mentioned "hundreds" because that's how I'm doing my crash course. And I didn't make much on the USD/JPY because I wasn't confident enough to back my own analysis, as demonstrated by my original post re head and shoulder. But I think (I hope) I've turned a corner. Still short USD/JPY. And I only got back in at 115.05 yesterday on the candle with big wick at 2 A.M. Aussie time.. And I greatly appreciate how the experienced traders on these forums share their knowledge and help others, including me. Without your examples, I would have given up after burning dollars.
  • #59,320
  • Feb 10, 2016 7:28pm Feb 10, 2016 7:28pm
Quoting Ken A
{quote} Nikkei is making a LL Watching and waiting to bid {quote} Hope you booked something during Yellen testify
I am out until I can fund my new OANDA account....
NO more futures trading through F###### broker.... I am so done with that.
Hope you caught some of them pips !
don't get in love with pairs ... up or down is the same pip value
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