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USD/JPY Discussion

  • #62,721
  • Nov 21, 2016 3:10am Nov 21, 2016 3:10am
Quoting Starcraftmaz
Bit of RSI divergence on the hourly, looking for a bit of a drop?
A strong move up off 100.00 and time for me to initiate a short trade - 1st entry short at 110.92 and targeting 109.77.

I often scale into move, so new highs on this pair will warrant consideration for further short entries my end.
  • #62,722
  • Nov 21, 2016 3:19am Nov 21, 2016 3:19am
Quoting audex
{quote} Perfect your analysis... Congratulations
hmm now A next B next C down ??
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  • #62,723
  • Nov 21, 2016 3:24am Nov 21, 2016 3:24am
Quoting Dano12
{quote} hmm now A next B next C down ?? {image}
That liquidity zone you've highlighted needs re-visiting Dano and we'll get there but the buyers might not be done just yet so I'm phasing and scaling in. There is a zone above us that is begging to be tested yet..
  • #62,724
  • Nov 21, 2016 3:37am Nov 21, 2016 3:37am
its just small retrace / breath of the market(i guess..),no much vol today but picture tell me what i see on the higher time frame

Cheers and trade wisely

Al.
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Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #62,725
  • Nov 21, 2016 3:56am Nov 21, 2016 3:56am
Fair point Al, the trend is clearly up and the 60 minute chart attached shows where price is sitting in the upper area of the upward channel.

That said..I'll take on the counter trend trades into liquidity zones if there is sufficient profit potential..scaling in the entries with low leverage.

Initial entry has profit potential of circa 120 pips to target zone and if we continue up I'll scale in again when I see an opportunity to do so.

As ever there is money to be made either side of the fence for traders..
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  • #62,726
  • Nov 21, 2016 3:59am Nov 21, 2016 3:59am
Quoting FXClarity
Fair point Al, the trend is clearly up and the 60 minute chart attached shows where price is sitting in the upper area of the upward channel. That said..I'll take on the counter trend trades into liquidity zones if there is sufficient profit potential..scaling in the entries with low leverage. Initial entry has profit potential of circa 120 pips to target zone and if we continue up I'll scale in again when I see an opportunity to do so. As ever there is money to be made either side of the fence for traders.. {image}
scale to the lower time frame(5/15min) look if macd again go up i think its will help u to make decisions

enjoy your scalps

Cheers

Al
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #62,727
  • Nov 21, 2016 4:05am Nov 21, 2016 4:05am
Quoting Almo2312
{quote} scale to the lower time frame(5/15min) look if macd again go up i think its will help u to make decisions enjoy your scalps Cheers Al
Thanks but I leave the 5/15 min timeframes to the young guns

Added: ....For me the 60 min timeframe is the fast timeframe
  • #62,728
  • Nov 21, 2016 4:08am Nov 21, 2016 4:08am
Quoting FXClarity
{quote} Thanks but I leave the 5/15 min timeframes to the young guns
oh ok lol

Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #62,729
  • Nov 21, 2016 4:11am Nov 21, 2016 4:11am
Quoting Almo2312
{quote} oh ok lol
Each to their own...Whatever works eh?

You still on Cable? I left that after the 1.2620 target was hit.

UJ and EU more compelling for me right now
  • #62,730
  • Nov 21, 2016 4:14am Nov 21, 2016 4:14am
Quoting FXClarity
{quote} Each to their own...Whatever works eh? You still on Cable? I left that after the 1.2620 target was hit. UJ and EU more compelling for me right now
i trade the cable, UJ and sometimes ride the Dragon(GJ)

but now i have some trades on UJ.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #62,731
  • Nov 21, 2016 4:17am Nov 21, 2016 4:17am
Quoting Almo2312
{quote} i trade the cable, UJ and sometimes ride the Dragon(GJ) but now i have some trades on UJ.
Yeah UJ and EU identical scenario right now - so I've gone with UJ for the time being. Mind these end of year moves can run hard before reverting - seen it many times before.
  • #62,732
  • Nov 21, 2016 4:22am Nov 21, 2016 4:22am
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Please add more indicators, I still see the real price! Thanks!
  • #62,733
  • Edited 4:40am Nov 21, 2016 4:28am | Edited 4:40am
Interesting..The area where your stop is placed is where I alluded to earlier regarding the zone I see this heading into "its begging to be tested".. but I guess we are trading the same bias from a slightly different perspective.
  • #62,734
  • Nov 21, 2016 8:13pm Nov 21, 2016 8:13pm
UJ coming to end

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  • #62,735
  • Nov 21, 2016 8:36pm Nov 21, 2016 8:36pm
Ohhh okaaaaay. A line on a 15 min chart is going to end a multi month bullish advance.
  • #62,736
  • Nov 21, 2016 11:27pm Nov 21, 2016 11:27pm
Quoting SunTrader
Ohhh okaaaaay. A line on a 15 min chart is going to end a multi month bullish advance.
That line is showing a completion of a pattern which you obviously have no idea about
  • #62,737
  • Nov 22, 2016 12:06am Nov 22, 2016 12:06am
Quoting Jfrancis
{quote} That line is showing a completion of a pattern which you obviously have no idea about
Yes, you are on the right path. There are a couple of harmonic setups happening that are signalling a high probability of a reversal. Always expect the unexpected!
Don't wait for the wind, take to the oars.
  • #62,738
  • Nov 22, 2016 3:54am Nov 22, 2016 3:54am
Bit of an up and down last day, but atm we have a break of the trend-range and a bit of an H&S (just a slight one) on the hourly. I am looking for an EMA break as well, and if that happens soon, I reckon we're heading down for a bit of a correction.
  • #62,739
  • Edited 6:07am Nov 22, 2016 5:56am | Edited 6:07am
There is a breakout below the support trendline of the overall bullish trend that has been forming in the past two weeks as well as a RSI divergence on the 4H time frame. I already have a short position, because I think there will be a major correction to the downside and the first target will be around 109.50.
  • #62,740
  • Nov 22, 2016 6:15am Nov 22, 2016 6:15am
111.78 region is the resistance to watch out for.

We should find some decent selling from around that level.

Have fun guys!
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