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USD/JPY Discussion

  • #63,421
  • Jan 8, 2017 8:11am Jan 8, 2017 8:11am
Warning: Read my signature {image} {image} {image}[/quote]


Don't worry, by your charts we all guessed your signature.
LDFX Trading Ltd
  • #63,422
  • Jan 8, 2017 8:48am Jan 8, 2017 8:48am
Quoting niubee
{quote} Hi bro, Sorry I'm late to give you the screenshots. Now I'm free, so I'm gonna give you more detail explanation why I took long position. Indicators I use: Bollinger Bands Ichimoku RSI MACD Stochastic SMA 50,100,200 SAR Fibonnaci (retracement and extension) Charts I use (in sequence): 1. Daily 2. H4 3. H1 Explanation: 1. Daily chart - Price already hit lower band - Price above Ichimoku cloud and above Kijun-sen, Chikou span above price - RSI > 50 and also divergence - SMA 50 already crossed over SMA 100 and SMA 200 also SMA 100 already crossed...
you seriously have zero chance to succeed in this business with your indicator loaded crap fest chart.Adding more does not mean you understand what you are doing but only to confuse you more with each added indicator.
watch read as much as you can on Mark Douglas
Before any indicators understand what probability is!Until you firmly understand this you won't get what trading is about.
good luck
In trading, you have to be defensive and aggressive at the same time
  • #63,423
  • Jan 8, 2017 8:54am Jan 8, 2017 8:54am
Quoting Davit
{quote} you seriously have zero chance to succeed in this business with your indicator loaded crap fest chart.Adding more does not mean you understand what you are doing but only to confuse you more with each added indicator. watch read as much as you can on Mark Douglas Before any indicators understand what probability is!Until you firmly understand this you won't get what trading is about. good luck
Hey bro! Take it easy with him/her lol.

KP
Do your homework, follow the footprints of smart money
  • #63,424
  • Jan 8, 2017 8:59am Jan 8, 2017 8:59am
Quoting KeenPips
{quote} Hey bro! Take it easy with him/her lol. KP
Better tell it straight up before thousands of $$ losses.I don't sugar coat the reality.I think I gave him best advise to succeed.Its the key to understand probability and edge.
This is critical.Without this insight you would be like little rat in cage going in circles for years.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #63,425
  • Jan 8, 2017 9:05am Jan 8, 2017 9:05am
Quoting Davit
{quote} Better tell it straight up before thousands of $$ losses.I don't sugar coat the reality.I think I gave him best advise to succeed.Its the key to understand probability and edge. This is critical.Without this insight you would be like little rat in cage going in circles for years. cheers
Agreed with your attempt to help him/her, as do a good number of us. I was thinking of minimizing any hurt to his/her ego and help him/her accept that he/she needs to act in making the necessary change. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #63,426
  • Jan 8, 2017 9:35am Jan 8, 2017 9:35am
Quoting Davit
{quote} you seriously have zero chance to succeed in this business with your indicator loaded crap fest chart.Adding more does not mean you understand what you are doing but only to confuse you more with each added indicator. watch read as much as you can on Mark Douglas Before any indicators understand what probability is!Until you firmly understand this you won't get what trading is about. good luck
Hi Davit,
Thanks for your advise, I'll consider your advise to stop from trading because of my zero chance to succeed.
I have already loss thousands (margin call several times).
If I get margin call again then it will be my last trade.

Quoting KeenPips
{quote} I read your signature. We all should keep learning to prosper in this business. Would you think of simplifying your set-ups? At least minimize your decision points and reduce your indicators. Just my opinion. Trade safe and prosper. KP
Hi KeenPips,
Thanks for your advise, I'll try to simplify my setup.
Don't trust me. I'm still newbie
  • #63,427
  • Jan 8, 2017 9:43am Jan 8, 2017 9:43am
Quoting niubee
{quote} Hi Davit, Thanks for your advise, I'll consider your advise to stop from trading because of my zero chance to succeed. I have already loss thousands (margin call several times). If I get margin call again then it will be my last trade. {quote} Hi KeenPips, Thanks for your advise, I'll try to simplify my setup.
Thanks m8 for your candour. You will do well with a demo. Just stay away from your live account for now or use 0.01 lot only as you build a simple efficient system based on effectively reading and analyzing the market with specific price action, adopting a top-down approach. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #63,428
  • Jan 8, 2017 3:48pm Jan 8, 2017 3:48pm
If you are a yen lover and are considering trading the USDJPY this week, note that the trend has been up for a while but it seems the momentum has slowed down. Recent price action has rejected a descending trendline on the weekly time frame (saddle brown colour) and the 78.6% Fib level. Therefore, it is important to watch how price reacts to this area. You can get further technical details from weekly technical outlook.

I may be wrong. Trade safe and proper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_Weekly_January_8,_2017.png Size: 38 KB
Do your homework, follow the footprints of smart money
  • #63,429
  • Jan 8, 2017 4:06pm Jan 8, 2017 4:06pm
iam in short for uj
Lost in Narrative
  • #63,430
  • Jan 8, 2017 8:16pm Jan 8, 2017 8:16pm
Quoting KeenPips
If you are a yen lover and are considering trading the USDJPY this week, note that the trend has been up for a while but it seems the momentum has slowed down. Recent price action has rejected a descending trendline on the weekly time frame (saddle brown colour) and the 78.6% Fib level. Therefore, it is important to watch how price reacts to this area. You can get further technical details from weekly technical outlook. I may be wrong. Trade safe and proper. KP USDJPY_Top-Down_Analysis_Weekly_January_8,_2017.png;2130741...
USD seasonal trade ; USD strengthens in January across all pairs

so UJ will continues its uptrend for now
  • #63,431
  • Jan 8, 2017 8:38pm Jan 8, 2017 8:38pm
H4 100 sma is the final barrier, above it, uj will start trending
  • #63,432
  • Jan 9, 2017 2:01am Jan 9, 2017 2:01am
sold USDJPY 117.42 SL 117.79
  • #63,433
  • Jan 9, 2017 2:39am Jan 9, 2017 2:39am
Quoting whitescalper
sold USDJPY 117.42 SL 117.79
what is your TP of this deal?
  • #63,434
  • Jan 9, 2017 2:50am Jan 9, 2017 2:50am
Quoting Lukan
{quote} what is your TP of this deal?
below Daily Pivot 116.40 lvl
  • #63,435
  • Jan 9, 2017 2:52am Jan 9, 2017 2:52am
09:51 01.09.2017 (gmt+1) USDJPY sell Entry 117,10 SL 117,60 TP 116,60 if wrong buy Entry 117,60 SL 117,10 TP 118,10 trailing stop suggested
No stress, spread is your friend
  • #63,436
  • Jan 9, 2017 3:31am Jan 9, 2017 3:31am
Looking quite bearish I added to my shorts at 117.25, 2/3 target 115.8, 1/3 target 115.2.
  • #63,437
  • Jan 9, 2017 3:35am Jan 9, 2017 3:35am
Quoting PatienceFx
H4 100 sma is the final barrier, above it, uj will start trending
If I may just correct you.
Price or forces that move it don't give a fk where 100sma or any sma is.You need to think who and why price moves and its not about moving averages.
Your thought process is typical retail trader's and typical retail trader is not profitable.You need to reexamine everything how you see PRICE.

regards
In trading, you have to be defensive and aggressive at the same time
  • #63,438
  • Jan 9, 2017 3:38am Jan 9, 2017 3:38am
Quoting whitescalper
sold USDJPY 117.42 SL 117.79
Very nice entry ^^
i was waiting for 117.70 to short the hell outta it though..
The only true wisdom is in knowing you know nothing.
  • #63,439
  • Jan 9, 2017 3:43am Jan 9, 2017 3:43am
Quoting whitescalper
{quote} below Daily Pivot 116.40 lvl
nice short and I think the price will hit 116.40 soon
  • #63,440
  • Jan 9, 2017 5:43am Jan 9, 2017 5:43am
Quoting whitescalper
sold USDJPY 117.42 SL 117.79
closed my short 116.69 ( +73 )
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