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USD/JPY Discussion

  • #61,461
  • Aug 31, 2016 6:29pm Aug 31, 2016 6:29pm
Quoting smash1820
{quote} It's still not too late to buy. This thing is going back to 125.
How can you tell it's going back to 125? What timeframe are you looking at?
  • #61,462
  • Aug 31, 2016 6:40pm Aug 31, 2016 6:40pm
Quoting nozomi
How can you tell it's going back to 125? What timeframe are you looking at?
Look at the price action on the Monthly chart. And the double bottom on the Weekly chart. This pair has already bottomed.
Please check out my blog at https://from-zero-to-hero . net
  • #61,463
  • Aug 31, 2016 7:42pm Aug 31, 2016 7:42pm
Quoting smash1820
{quote} Look at the price action on the Monthly chart. And the double bottom on the Weekly chart. This pair has already bottomed.
I see it now, thanks for the sharing!

I've not traded a weekly/monthly timeframe before. In your opinion, if I'm seeking to TP at 125, should I be putting my SL in the region of 99 to 99.5?

At the 1H timeframe, it has tested the 103 floor twice over the past 24 hours, am I correct in my observation? If it breaks the 103 floor, should I be looking at the next floor to be 102.4 or 101.8?
  • #61,464
  • Aug 31, 2016 7:59pm Aug 31, 2016 7:59pm
Quoting PatienceFx
went long again 103.30 {image}
closed 103.48 yesterday, month end flows as previously talked
  • #61,465
  • Aug 31, 2016 8:04pm Aug 31, 2016 8:04pm
Quoting PatienceFx
h4 leaves the motive trend channel, anyway i am on the fence now, cya tomorrow {image}
price left h4 motive trend channel yesterday ........ dropped
  • #61,466
  • Aug 31, 2016 8:09pm Aug 31, 2016 8:09pm
price left h1 motive trend channel, expected range

 

  1. 103.52 top
  2. 102.386 bottom

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  • #61,467
  • Aug 31, 2016 8:16pm Aug 31, 2016 8:16pm
Quoting PatienceFx
price left h1 motive trend channel, expected range 103.52 top 102.386 bottom {image}
translating this into fib of last week candle, i may not take any positions today

Attached Image
  • #61,468
  • Aug 31, 2016 8:21pm Aug 31, 2016 8:21pm
Quoting PatienceFx
{quote} translating this into fib of last week candle, i may not take any positions today {image}
i am sorry if i take my trades too seriously and post my plans here.

Quoting PatienceFx
{quote} translating this into fib of last week candle, i may not take any positions today {image}
using WTF strategy i do not expect 103.48 to break on TF so, keeping on the fence here

Wednesday
Thursday
Friday
  • #61,469
  • Aug 31, 2016 8:53pm Aug 31, 2016 8:53pm
Quoting nozomi
I see it now, thanks for the sharing! I've not traded a weekly/monthly timeframe before. In your opinion, if I'm seeking to TP at 125, should I be putting my SL in the region of 99 to 99.5? At the 1H timeframe, it has tested the 103 floor twice over the past 24 hours, am I correct in my observation? If it breaks the 103 floor, should I be looking at the next floor to be 102.4 or 101.8?
Hi there,

Sorry for the delay. I don't trade the Monthly/Weekly time frames either, but I use them in my analysis quite frequently. It helps to have an idea of what the long term trend is so that you can avoid going against it.

I don't use stop losses in my trading and I would not recommend it. It is much better to use mental stops. Just have an idea of the biggest loss or maximum price you are willing to take and check your trade every so often to make sure it's staying on track. If it's not, then you'll want to check it even more often until you have a clear idea of what to do. Trade management is key.

Please understand that it will take some time to hit the 125 level. In fact, it's more of an "investment" than a "trade". It could take 12-16 months or longer, but it will get there eventually. Be confident in your analysis and own the trade, do not let anything stand in the way.

If you were to use a stop loss, I personally would put it at 95. But again, I don't recommend using one. I also don't expect it to fall below 100, so you should be fine using 99 - 99.50.

In the near term, it is likely U/J will fall below 103 although not guaranteed as the pair remains strong. I would not say it has really tested the level yet, but moreso a hiccup or pause. If it does drop below 103, I would watch the 102.80 and 102.40 levels for the next floor, ie: support. You can also add 101.80 to the list if it gets that far, but I wouldn't count on it.

I hope that helps. Good trading and best of luck to ya !
Please check out my blog at https://from-zero-to-hero . net
  • #61,470
  • Edited 9:45pm Aug 31, 2016 9:24pm | Edited 9:45pm
good analysis from other.. but i still see 104.xxx area still in play..
ofc support at 102.3 must be watchin too..
so stay safe and happy trading

this my level for intraday

top 103.53
mid 103.22 key for intraday trend.. (stay above this good up move, if stay below more likely down move)
low 102.85

i cant explain more because i'm not good at using word to describe it..

note :
im daytrader so my view always change depend situation on PA..
the true currencies here is patience and react precisely
  • #61,471
  • Aug 31, 2016 9:43pm Aug 31, 2016 9:43pm
Quoting rafael5643
Had a friend who put in a fundamental buy USD/JPY at 100.5 and has taken half his position out now, I wish I had followed his trade there!
You cant ignore the fundes
  • #61,472
  • Aug 31, 2016 10:01pm Aug 31, 2016 10:01pm
After reaching 103.50, UJ need some time to cool off. BOJ is unlikely to intervene at this level.

I see 103 - 103.50 play for the rest of the week. Before buyers comes again. And let BOJ and everybody assess the situation.

Sell if 104. SL 104.50. TP 103.50.
  • #61,473
  • Aug 31, 2016 10:33pm Aug 31, 2016 10:33pm
Quoting PatienceFx
{quote} {quote}
lol...
i wonder what below the belt............???
the true currencies here is patience and react precisely
  • #61,474
  • Sep 1, 2016 12:02am Sep 1, 2016 12:02am
Manual trading today.
Entry at 103.224 and out at 103.312
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  • #61,475
  • Sep 1, 2016 12:57am Sep 1, 2016 12:57am
Looking forward to power through and beyond 103.50 today.

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  • #61,476
  • Sep 1, 2016 1:30am Sep 1, 2016 1:30am
I see 95.00 and then go up ... what do you think?
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  • #61,477
  • Sep 1, 2016 1:38am Sep 1, 2016 1:38am
Quoting MBTrading74
I see 95.00 and then go up ... what do you think? {image}
Sometime in Oct/Nov?

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  • #61,478
  • Sep 1, 2016 1:47am Sep 1, 2016 1:47am
looking forward to 103.7..
the true currencies here is patience and react precisely
  • #61,479
  • Sep 1, 2016 1:51am Sep 1, 2016 1:51am
Quoting PatienceFx
{quote} i am sorry if i take my trades too seriously and post my plans here. {quote} using WTF strategy i do not expect 103.48 to break on TF so, keeping on the fence here Wednesday Thursday Friday
i forgot the month has changed and kept out on fence lol
  • #61,480
  • Sep 1, 2016 1:57am Sep 1, 2016 1:57am
Quoting PatienceFx
{quote} i forgot the month has changed and kept out on fence lol
does it means you play again ?
the true currencies here is patience and react precisely
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