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USD/JPY Discussion

  • #62,801
  • Nov 24, 2016 7:51am Nov 24, 2016 7:51am
Added 2 new pending shorts to 113.35,,,, 113.38 and 113.47
All targets 111.32
Where price is now, it has been before, and will be again.
  • #62,802
  • Nov 24, 2016 8:58am Nov 24, 2016 8:58am
In the spirit of this being Thanksgiving Day here in the USA - thank you to all going short.

Nothing keeps a bullish trend going more than those who have to cover .... higher.
  • #62,803
  • Nov 24, 2016 9:05am Nov 24, 2016 9:05am
on sell now
email me : pipspro88@gmail
  • #62,804
  • Nov 24, 2016 9:21am Nov 24, 2016 9:21am
Quoting SunTrader
In the spirit of this being Thanksgiving Day here in the USA - thank you to all going short. Nothing keeps a bullish trend going more than those who have to cover .... higher.
You are most welcome and I look forward to collecting my profits at 109.77
  • #62,805
  • Nov 24, 2016 9:27am Nov 24, 2016 9:27am
Quoting FXClarity
{quote} You are most welcome and I look forward to collecting my profits at 109.77
Nice one. My next level below 111.32 is 109.76 !!
Where price is now, it has been before, and will be again.
  • #62,806
  • Nov 24, 2016 9:31am Nov 24, 2016 9:31am
Quoting Jenx
{quote} Nice one. My next level below 111.32 is 109.76 !!
Ok, but can you explain the benefits of getting those trades in now, rather than when it actually starts to move down?

Secondly, what do you care if it goes to 109.7xish, as you'll have gotten out of your trades at 111.32?
  • #62,807
  • Nov 24, 2016 9:36am Nov 24, 2016 9:36am
Quoting Nefser
{quote} Ok, but can you explain the benefits of getting those trades in now, rather than when it actually starts to move down? Secondly, what do you care if it goes to 109.7xish, as you'll have gotten out of your trades at 111.32?
We all have our way of deciding when to get in.
Mine just happens to be pa and volume.
111.32 is where I see the next major support being and thats where my tp is.
If that level gets broken and fails a retest, im short again to 109.76.
If either of those levels holds, then resistance will be apparent from what happens next
Where price is now, it has been before, and will be again.
  • #62,808
  • Nov 24, 2016 9:49am Nov 24, 2016 9:49am
In fairness I hadn't meant for my comment to appear flippant.

The short / medium term trend is clearly 'up' so for those trend traders amongst you who have rode it up - nice going.

I trade a counter trend strategy with confirming PA to market liquidity zones. I know where I'm headed in advance of taking a trade on, my challenge sits in timing entries and its not an exact science - which I why I build a position over time.
  • #62,809
  • Nov 24, 2016 10:07am Nov 24, 2016 10:07am
Quoting FXClarity
In fairness I hadn't meant for my comment to appear flippant. The short / medium term trend is clearly 'up' so for those trend traders amongst you who have rode it up - nice going. I trade a counter trend strategy with confirming PA to market liquidity zones. I know where I'm headed in advance of taking a trade on, my challenge sits in timing entries and its not an exact science - which I why I build a position over time.
I too build into the trade basically by looking for price areas not revisited with pa.Sounds similar
Where price is now, it has been before, and will be again.
  • #62,810
  • Nov 24, 2016 11:51am Nov 24, 2016 11:51am
Quoting Jenx
Selling @ 113.35 target 111.32
buying from 110.28 target 115.00
Its not about the money, its about the game, the game between people.
  • #62,811
  • Nov 24, 2016 12:23pm Nov 24, 2016 12:23pm
Just waiting for this baby to go up
  • #62,812
  • Nov 24, 2016 1:09pm Nov 24, 2016 1:09pm
Obama is still in office and so is Yellen. Nothing has changed yet so Dollar strength is still under Obama administration. Things may change down the road but that will not be until after Trump steps in which is January but even when he does step in Yellen will still be in office and he does not have the power to get rid of Yellen which will apparently be in office until 2018. Weak YEN and stronger dollar are in call for the time being
  • #62,813
  • Nov 24, 2016 1:15pm Nov 24, 2016 1:15pm
Quote
Obama is still in office and so is Yellen. Nothing has changed yet so Dollar strength is still under Obama administration. Things may change down the road but that will not be until after Trump steps in which is January but even when he does step in Yellen will still be in office and he does not have the power to get rid of Yellen which will apparently be in office until 2018. Weak YEN and stronger dollar are in call for the time being

You may be right on that I have been noticing a strong uptrend recently with a few profit taking levels. What's more surprising is that the seasonal holidays are about to come in for the US this will boost their economy slightly because of the spending on gifts and such. I'm sure this will strengthen the Dollar until end of the year perhaps. I may be right, I may be wrong but that's what I thought.
  • #62,814
  • Nov 24, 2016 1:18pm Nov 24, 2016 1:18pm
Quoting stylinex
Obama is still in office and so is Yellen. Nothing has changed yet so Dollar strength is still under Obama administration. Things may change down the road but that will not be until after Trump steps in which is January but even when he does step in Yellen will still be in office and he does not have the power to get rid of Yellen which will apparently be in office until 2018. Weak YEN and stronger dollar are in call for the time being
Absolutely. Not saying this is a top.Tops and bottoms don't really exist in this game.As they say "Where price is now,it has been before, and it will be again"
Where price is now, it has been before, and will be again.
  • #62,815
  • Nov 24, 2016 1:22pm Nov 24, 2016 1:22pm
My next setup in H4: Long at EMA 10, SL at EMA 20, as long as the uptrend is intact.
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  • #62,816
  • Nov 24, 2016 3:19pm Nov 24, 2016 3:19pm
Quoting Jenx
{quote} Absolutely. Not saying this is a top.Tops and bottoms don't really exist in this game.As they say "Where price is now,it has been before, and it will be again"
Sorry, I just find this confusing. Doing this doesn't seem to make sense, but just seems at odds with the current price activity.

You say "selling 11x to get to 10x" and you want to suggest you aren't inferring that you've just tried to sell at a top? If not really the top and you think it could go up again, then I have to ask...why sell now? If you think it will go down a bit later, why not wait till it gets a bit higher and sell then...or wait when it DOES start to move down and sell then? What's the thought process/theory behind this?

I don't understand and I'd really like to know if I'm missing out on some plan that validates this as a good (or better) way to trade.
  • #62,817
  • Nov 24, 2016 8:47pm Nov 24, 2016 8:47pm
113.90 , strong resistance today, ,i take short in 113.85, ,
  • #62,818
  • Nov 24, 2016 9:52pm Nov 24, 2016 9:52pm
Quoting Solidlight
{quote} You may be right on that I have been noticing a strong uptrend recently with a few profit taking levels. What's more surprising is that the seasonal holidays are about to come in for the US this will boost their economy slightly because of the spending on gifts and such. I'm sure this will strengthen the Dollar until end of the year perhaps. I may be right, I may be wrong but that's what I thought.
The current seasonal holiday spending will do nothing to strengthen the dollar. Since the banking crisis of subprime borrowing of 2007/2008 the majority of spending in America has all been on credit cards. During that period, credit card holders have racked up $60 Trillion in credit card debt, and that is not sustainable. A cycle of credit default is imminent, and then a credit squeeze.
Don't wait for the wind, take to the oars.
  • #62,819
  • Nov 24, 2016 10:01pm Nov 24, 2016 10:01pm
Attached Image
  • #62,820
  • Nov 24, 2016 10:09pm Nov 24, 2016 10:09pm
Huge sell out, gonna sting a little. XD

Quote
The current seasonal holiday spending will do nothing to strengthen the dollar. Since the banking crisis of subprime borrowing of 2007/2008 the majority of spending in America has all been on credit cards. During that period, credit card holders have racked up $60 Trillion in credit card debt, and that is not sustainable. A cycle of credit default is imminent, and then a credit squeeze.

Thanks for the heads up, so your take is that we should be looking to short in the long term?
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