USD/JPY Discussion

Hahahahaha how soo

114.4 is enough for me - out before news. Good luck.

Happens all the time in this topic or any other one here in FF.

BenjaminIs , your post #63787 , I absolutely agree with the information in it.
Since I am now a "disciple" of Mark Douglas , working on my mindset , I do not know NOR do I care if the market goes through a 10% correction.

My USD/JPY Heiken Ashi Chart showed me a clearly firm identification and confirmation of my trading edge to enter the market LONG at 113.44 due to the crossover of the only 3 indicators that I have on my charts , they are the 5 , 9 and 25 period EMA. Firstly , I ONLY ENTER LONG when PRICE is ABOVE the 25 period EMA. Secondly , and most importantly , the 5 period EMA had completely and visibly crossed ABOVE the 9 period EMA , ABOVE the 25 period EMA , at 113.44 at 1:44am Atlantic Standard Time. I had absolutely NO FEAR of entering the market at this price point. Closed my position at 114.36 !!!! This is the 1st TIME that I have EVER had the CORRECT MENTAL MINDSET to TRUST MYSELF to stay in the trade for such a long time !!!

AM I EVER EXCITED !!! THIS WAS A WARNING SIGN THAT MARK DOUGLAS spoke about , and my chart confirmed that fact that I should exit my position at 114.36 , due to 2 consecutive RED CANDLES on my 30 MINUTE CHART. I only use a 30 minute and 1 hour charts for position initiation.

CURRENTLY, my 4 hour chart , which posted a NEW GREEN CANDLE at 10am AST , has retreated from 114.32 , but , my indicators are indicating that the PROBABILITY of price action continuing up for the USD/JPY is HIGH.

BenjaminIS , thankyou for your very informative post. For me , it's another lesson learned , I am very thankful !

Just wondering, what are the average lengths of time people here hold trades? I have always wondered why people on FF never use daily or weekly time frames. Is it just because its boring and takes too long?

Looks very bullish, a double bottom is in and a rest of 116 seems inevitable. USD rallying against all majors. The one thing which could end this, is the GDP print at the end of the week.

115.35 looks likely before GDP figures, but I'm waiting for any retrace and test of 114.4 to go long.

For me it's usually a few hours to maybe a day or two at most. That's just my trade style though. I love making $500-$1000 on most days, and closing my trades at the end of the day, going to bed all calm and relaxed with a sense of accomplishment.

On the other hand sometimes I'll make a trade, and the pair will do literally nothing for a day or even two. Even though I wouldn't be significantly in the red, this really stresses me out (because it usually implies the price action I was predicting has not eventuated, at least on the immediate time-frame).

113.865√

I think it will even reach 113.75.

dianajs , do you mean 113.75 or 114.85 ? Just curious.

Wishing you many , many green pips !!!!

Yea I guess that makes sense the going to bed and sleeping soundly. Thanks for the insight.

Got stopped out at 114.14 but my other sell order at 114.triggered. Sl moved bellow entry point tp stays the same.

well it would do and probably more if you actually posted what's next...
it really isn't a personal thing their are rules
what you want is something everyone working too the more the merrier
something another professional trader would do

if it went to the moon it would be something else plain and simple

UJ is consolidating down in a downward channel
and is supported by previous monthly candle
can not be bullish without taking the current high
it has a potentially bullish candle w1
more likely it would go lower in coming weeks
having said that now there's a tl in the way with $ poss over sold

Rules, we don't need no stinkin' rules.
Here is another rule breaker - fib retracement on same up trend this time:

Sold UJ at 114.70 and scalping all the way down

you guys think is a good idea to long usdjpy before the news?

were talking major curve fit what you think including that fib
conditions is a better word

best to swat up on how to use the tools
or not even bother you might be right just by eye

my dream is 118,xx

http://www.babypips.com/school/eleme...tracement.html

http://www.babypips.com/school/eleme...end-lines.html

Trend Lines
If drawn correctly, they can be as accurate as any other method. Unfortunately, most forex traders don’t draw them correctly or try to make the line fit the market instead of the other way around