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USD/JPY Discussion

  • #62,921
  • Nov 30, 2016 6:16pm Nov 30, 2016 6:16pm
Do you guys think that it can turn around here? Or we still have a move up? I know that basically it can move up to at least 120 with not too much problems, but...
  • #62,922
  • Nov 30, 2016 6:46pm Nov 30, 2016 6:46pm
Every time I think it will turn around it just goes up more. Best to wait for a strong 4h bearish signal imo.
  • #62,923
  • Nov 30, 2016 7:05pm Nov 30, 2016 7:05pm
IMHO i think UJ should starting first phase retracement to test support 110.50...this support to me is not easy to break...
  • #62,924
  • Nov 30, 2016 7:08pm Nov 30, 2016 7:08pm
I keep thinking/feeling that it can't go up even more, but it does ... no bearish signals at the moment ...
  • #62,925
  • Nov 30, 2016 8:08pm Nov 30, 2016 8:08pm
What about the last 4h candle? It should look a bit bearish?
  • #62,926
  • Nov 30, 2016 8:51pm Nov 30, 2016 8:51pm
Quoting Dr.House
What about the last 4h candle? It should look a bit bearish?
Current one might be!
  • #62,927
  • Nov 30, 2016 8:53pm Nov 30, 2016 8:53pm
Well I guess it all depends of the broker, but my current one started an hour ago
  • #62,928
  • Nov 30, 2016 8:59pm Nov 30, 2016 8:59pm
dono why some traders always fight the real highly trends ..

wait for big S/D zones and only than make your moves..

Cheers and GL

Al.
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Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #62,929
  • Nov 30, 2016 9:57pm Nov 30, 2016 9:57pm
closed my long position today. +121
Risk comes from not knowing what you're doing.
  • #62,930
  • Nov 30, 2016 10:35pm Nov 30, 2016 10:35pm
Looking to short uj @114.80 for swing trade
Forex as Leverage
  • #62,931
  • Dec 1, 2016 1:36am Dec 1, 2016 1:36am
Strong UJ bearish divergence.
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  • #62,932
  • Dec 1, 2016 3:06am Dec 1, 2016 3:06am
Quoting MrsTrader
I keep thinking/feeling that it can't go up even more, but it does ... no bearish signals at the moment ...
Last year UJ reached nearly 126.

The 62% fib is around 115.8 ... so you could reasonably expect to see that level.
Additionally it appears that resistance at ~116 will be strong because of the touches at that level in January this year, and August and January last year.
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  • #62,933
  • Dec 1, 2016 5:45am Dec 1, 2016 5:45am
Short again 114.3x
Make money by doing the opposite of Giveachance aka loser
  • #62,934
  • Dec 1, 2016 6:03am Dec 1, 2016 6:03am
Quoting nessus94
Short again 114.3x
On what basis?

You might say hs on 1h but I feel that's really clutching at staws.
  • #62,935
  • Dec 1, 2016 6:12am Dec 1, 2016 6:12am
Quoting Starcraftmaz
{quote} On what basis? You might say hs on 1h but I feel that's really clutching at staws.
114.3x/5x is resistance (114.5x is monthly res)

The move up above it was just stop hunt in my opinion

So my stop is above high of today

Its risky but worth a try after a 1400 pips rally
Make money by doing the opposite of Giveachance aka loser
  • #62,936
  • Dec 1, 2016 6:21am Dec 1, 2016 6:21am
Quoting Starcraftmaz
{quote} On what basis? You might say hs on 1h but I feel that's really clutching at staws.
There is a shooting star bar on the 4H time frame at the resistance at 114.80. However, considering how bullish this pair is I am not sure how valid of a signal it is. I wouldn't short here.
  • #62,937
  • Dec 1, 2016 6:37am Dec 1, 2016 6:37am
Quoting dianajs
{quote} There is a shooting star bar on the 4H time frame at the resistance at 114.80. However, considering how bullish this pair is I am not sure how valid of a signal it is. I wouldn't short here.
I gree with you.. No shorting till the area of 115-116
  • #62,938
  • Dec 1, 2016 6:38am Dec 1, 2016 6:38am
Quoting dianajs
{quote} There is a shooting star bar on the 4H time frame at the resistance at 114.80. However, considering how bullish this pair is I am not sure how valid of a signal it is. I wouldn't short here.
It's invalid because 4H bars can look completely different based on your brokers time. That doesn't include analysis over several bars (like divergence, etc) but for single bar analysis 4H is mostly useless. The biggest intraday bar looking exactly the same for all traders is 1H (and that is being often heavily manipulated by strong movements last 1-5 minutes).
  • #62,939
  • Dec 1, 2016 6:39am Dec 1, 2016 6:39am
Quoting dianajs
{quote} There is a shooting star bar on the 4H time frame at the resistance at 114.80. However, considering how bullish this pair is I am not sure how valid of a signal it is. I wouldn't short here.
Don't see it at all on mine, I'm guessing it's a matter of our timezones. Is there any standard on this?
  • #62,940
  • Dec 1, 2016 6:55am Dec 1, 2016 6:55am
Quoting mades
{quote} It's invalid because 4H bars can look completely different based on your brokers time. That doesn't include analysis over several bars (like divergence, etc) but for single bar analysis 4H is mostly useless. The biggest intraday bar looking exactly the same for all traders is 1H (and that is being often heavily manipulated by strong movements last 1-5 minutes).
You've made a great point there 'mades' and every trader at the early stages of their trading in Spot FX ought to be aware of this.

Personally I abandoned 'single' or 'paired' candle stick analysis for trade entries a long time ago when I ran charting platforms from several brokers and on most timeframes under the daily single or 'paired' candlesticks varied from one to the other pretty much rendering the concept useless.

Of course if its working for others - that's fine...
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