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USD/JPY Discussion

  • #62,261
  • Oct 14, 2016 1:28pm Oct 14, 2016 1:28pm
Here is where the price can found some real support for now, or can break it down to the blue ones. @weekly:
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  • #62,262
  • Oct 14, 2016 2:41pm Oct 14, 2016 2:41pm
We may touch 105 tonight, unless the algos are at the clubs already!
We err, and err, and err again, but less.
  • #62,263
  • Edited 3:39pm Oct 14, 2016 3:28pm | Edited 3:39pm
Quoting dweb
We may touch 105 tonight
Negative. The m15 is at strong sell level.
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I don`t know when exactly a buy orders for yen will be executed, but we miss a 105 level. Bears eats them totally.
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May be bulls have a second one head... who knows.
The next week will tell us.

All yen pairs @sell zone @h4.
Forcemeat can not be unrolled back...
  • #62,264
  • Oct 14, 2016 3:48pm Oct 14, 2016 3:48pm
Next week I expect
++ retracement: H4, 102.787, then up to the stars
++ Pips potential; 180
We err, and err, and err again, but less.
  • #62,265
  • Oct 14, 2016 3:56pm Oct 14, 2016 3:56pm
Quoting catroot
{quote} Negative. The m15 is at strong sell level. {image} I don`t know when exactly a buy orders for yen will be executed, but we miss a 105 level. Bears eats them totally. {image} May be bulls have a second one head... who knows. The next week will tell us. All yen pairs @sell zone @h4.
For sure catroot. I closed all my Orders. Really good trading day today.
We err, and err, and err again, but less.
  • #62,266
  • Edited 2:27am Oct 15, 2016 2:06am | Edited 2:27am
The daily graph shows me retrace posibility to the 102.0
This level defines daily uptrend.

Bears fails to realize their attack last 3 times, but eats the head of the bulls.
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And now we are locked at some triangle, which will be resolved soon. 102.0 or 105.5

Now we are outside of upchannel.

I think going to the 102 for a second head for bulls is a reasonable move.
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  • #62,267
  • Oct 16, 2016 9:02am Oct 16, 2016 9:02am
Bullish on the pair.
  • #62,268
  • Edited 1:03pm Oct 16, 2016 11:26am | Edited 1:03pm
Bulls must take confirmation by the double bottom @102 (102.8 is a top for double bottom figure)
Just jump to the top from 102 will mean building a downchannel.

So, short to the 102, long from it, lock @ 102.8, if the price returns to the 102 - ok. close short and double long. If not - close long @ the top and double short to the 101.2 or even to the 100.3

When long will be confirmed (at any key level) - target to the 107.5, to be more correct - untill the price touches the first minor trendline.
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  • #62,269
  • Oct 16, 2016 4:32pm Oct 16, 2016 4:32pm
WEEKLY UPDATE
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  • #62,270
  • Oct 16, 2016 8:24pm Oct 16, 2016 8:24pm
The pair pulled back after hit 2 month high, the lack of upward strength may suggesting bearish movement for the coming week.
  • #62,271
  • Oct 16, 2016 8:37pm Oct 16, 2016 8:37pm
Only a break below 103.32 will reverse the daily upswing
Follow The Markets Structure - Patience and Discipline
  • #62,272
  • Edited 2:46am Oct 17, 2016 2:19am | Edited 2:46am
Quoting pipfarm
Only a break below 103.32 will reverse the daily upswing
Not so sure.
102.8 can be tested safetly for daily upswing..
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But 102 now @underground.

103.3 level is a must. 103.16 to be more accurate if we strictly follows h4 levels.
102.8 is the middle h4 support and 102.4 is the lowest h4 support.
h4 resistance is @ 104.4, 104.7, 105.1


Here is the h4 graph:
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And the daily:
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  • #62,273
  • Oct 17, 2016 3:01am Oct 17, 2016 3:01am
Quoting catroot
{quote} Not so sure. 102.8 can be tested safetly for daily upswing.. {image} But 102 now @underground. 103.3 level is a must. 103.16 to be more accurate if we strictly follows h4 levels. 102.8 is the middle h4 support and 102.4 is the lowest h4 support. h4 resistance is @ 104.4, 104.7, 105.1 Here is the h4 graph: {image} And the daily: {image}

I would rather go with my level as is it based of price action, those line you have on your chart are a handicap for real price action traders.
Follow The Markets Structure - Patience and Discipline
  • #62,274
  • Edited 3:45am Oct 17, 2016 3:19am | Edited 3:45am
Quoting pipfarm
{quote} ... a handicap for real price action traders.
Well, tell us what do you see as the price action trader?
I didn`t see that 103.3 level can support bulls. This is the ranging level. Bears will easily suppress the back impulse.
Recharge for bulls can be found @102.4 or @ 100.3 both levels must have a double bottom.
I didn`t disaffirm the price to reach 105.1 level, i just say that will be a nice gift for bears today.

Quoting pipfarm
{quote} I would rather go with my level
Thats what every one should do all the time.
Forcemeat can not be unrolled back...
  • #62,275
  • Oct 17, 2016 3:33am Oct 17, 2016 3:33am
Quoting catroot
{quote} Well, tell us what do you see as the price action trader?

Read my posts
Follow The Markets Structure - Patience and Discipline
  • #62,276
  • Oct 17, 2016 7:36am Oct 17, 2016 7:36am
found this worth sharing, a good trade plan for this week

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  • #62,277
  • Oct 17, 2016 8:21am Oct 17, 2016 8:21am
Quoting PatienceFx
found this worth sharing
Everything fine, but 102 is already @underground and can shoot back to the other side. Watch for a double bottom. And SL under 100.3
Forcemeat can not be unrolled back...
  • #62,278
  • Oct 17, 2016 3:09pm Oct 17, 2016 3:09pm
Just got filled in a short here, based on the break of the pink line. Stops at the red line, just above last Friday's high. First targets about 100 pips lower, at the blue line.

We are also at the top of sideways range of the last few weeks. I like shorting at the top of ranges formed within larger bear moves.

My longer term view is that this pair is only about halfway through its corrective decline from 126
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  • #62,279
  • Oct 17, 2016 4:17pm Oct 17, 2016 4:17pm
Also have a sell stop in place here with a wider stop, news due out tonight.
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  • #62,280
  • Edited Oct 18, 2016 1:46am Oct 17, 2016 11:21pm | Edited Oct 18, 2016 1:46am
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Short term scalp, staying long until the trend changes
Follow The Markets Structure - Patience and Discipline
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