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USD/JPY Discussion

  • #62,521
  • Nov 1, 2016 8:22am Nov 1, 2016 8:22am
I'm watching where H1 chart closes but it looks like dollar buying/yen selling:
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  • #62,522
  • Nov 1, 2016 9:12am Nov 1, 2016 9:12am
Perhaps a little further down
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  • #62,523
  • Nov 1, 2016 9:54pm Nov 1, 2016 9:54pm
What do you think?
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  • #62,524
  • Edited 11:09pm Nov 1, 2016 10:58pm | Edited 11:09pm
Quoting Hebelitt
What do you think? {image}

Do no think, just react. No one can predict the markets, before this last move up i thought the yen would go down but that is just what i thought , what i did was go long because price started to trend up again.

The previous chart you posted was spot on, i saw the same thing on the 4h, a break down then a reaction and a continuation.
Follow The Markets Structure - Patience and Discipline
  • #62,525
  • Nov 1, 2016 11:55pm Nov 1, 2016 11:55pm
testing a new scalping strategy

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  • #62,526
  • Nov 2, 2016 12:06am Nov 2, 2016 12:06am
Quoting PatienceFx
testing a new scalping strategy {image}
That did not work then , opening gap down
Follow The Markets Structure - Patience and Discipline
  • #62,527
  • Edited 1:13am Nov 2, 2016 12:22am | Edited 1:13am
Support should be around 103.50, below that we can go much lower ...
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  • #62,528
  • Nov 2, 2016 12:48am Nov 2, 2016 12:48am
Long now. SL 103.7 tp 106.76
Going beyond will break uptrend. Next floor level 103.0
Forcemeat can not be unrolled back...
  • #62,529
  • Nov 2, 2016 1:20am Nov 2, 2016 1:20am
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  • #62,530
  • Nov 2, 2016 1:41am Nov 2, 2016 1:41am
Quoting Dano12
{image} {image} {image}

lol, i deleted what i said, i was looking at the dax, your analysis is correct. Do you draw the charts manually?
Follow The Markets Structure - Patience and Discipline
  • #62,531
  • Edited 2:27am Nov 2, 2016 1:47am | Edited 2:27am
Line in the sand
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Pride always comes before destruction.... -Proverbs 16:18
  • #62,532
  • Nov 2, 2016 2:12am Nov 2, 2016 2:12am
Quoting pipfarm
{quote} lol, i deleted what i said, i was looking at the dax, your analysis is correct. Do you draw the charts manually?
semiautomatic Range manually importance
  • #62,533
  • Nov 2, 2016 2:30am Nov 2, 2016 2:30am
Nice RR rate for Long Ride
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  • #62,534
  • Nov 2, 2016 4:06am Nov 2, 2016 4:06am
Quoting polbanda
Nice RR rate for Long Ride {image}
Yea haha positioned myself for 30 pip stop below order block @104.10.
lets see how this play out
The only true wisdom is in knowing you know nothing.
  • #62,535
  • Nov 2, 2016 4:10am Nov 2, 2016 4:10am
Quoting polbanda
Nice RR rate for Long Ride {image}
Hahaha markets moving down stongly and you think you can call the bottom ,pure luck if it happens
Follow The Markets Structure - Patience and Discipline
  • #62,536
  • Nov 2, 2016 4:15am Nov 2, 2016 4:15am
I will never understand why everyone wants to complicate trading, crazy lines all over the place ,its so simple pick your trading time-frame and one lower , buy the dips in an up swing and sell the rallies in a down swing, use whatever indicators you need to identify the swings.
Follow The Markets Structure - Patience and Discipline
  • #62,537
  • Nov 2, 2016 4:51am Nov 2, 2016 4:51am
With overall dollar weakness, longing this now is pure guessing / chasing bottom. Next supp 103.18 / 102.80 (major one).
  • #62,538
  • Nov 2, 2016 4:56am Nov 2, 2016 4:56am
Quoting pipfarm
I will never understand why everyone wants to complicate trading, crazy lines all over the place ,its so simple pick your trading time-frame and one lower , buy the dips in an up swing and sell the rallies in a down swing, use whatever indicators you need to identify the swings.
Truth is there is not right or wrong, whatever that works for each individual :/
The only true wisdom is in knowing you know nothing.
  • #62,539
  • Nov 2, 2016 5:09am Nov 2, 2016 5:09am
Quoting aarontan
{quote} Truth is there is not right or wrong, whatever that works for each individual :/
I beg to differ, there is a right way, its called learn technical analysis, trends, retracements, patterns, timeframes etc it works perfectly if done right, everyone trying to reinvent the wheel.
Follow The Markets Structure - Patience and Discipline
  • #62,540
  • Nov 2, 2016 5:18am Nov 2, 2016 5:18am
Quoting pipfarm
{quote} I beg to differ, there is a right way, its called learn technical analysis, trends, retracements, patterns, timeframes etc it works perfectly if done right, everyone trying to reinvent the wheel.
That is all useless if you don't have a traders mentality. Thinking in probabilities and not trade-by-trade basis.
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