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USD/JPY Discussion

  • #63,841
  • Jan 27, 2017 12:39pm Jan 27, 2017 12:39pm
Quoting CKSCswing
{quote} Why do you think UJ will go up? I want to trade it but not sure which position to take from what I am seeing.
1. Probability of a pattern and its probalities of reversal at the Bo point and continuance at the BO point.
2. Orders were launched based on pattern probability
3. if the BO fails, then there is the probability of lenght of failure, and price turning to the upside as well.
4. if the BO succeeds, an order will be added, as well as when there is a temporary reversal.
5. gut feel for the pair, and its either going to right or wrong, and I am happy to accept the outcome both probabilities.
We err, and err, and err again, but less.
  • #63,842
  • Jan 27, 2017 1:21pm Jan 27, 2017 1:21pm
the way to look at gold is bottom up
d1 to w1
rather than top down
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,843
  • Jan 27, 2017 3:43pm Jan 27, 2017 3:43pm
from what i can tell the downward trend has been broken. it could be just a test but I'm long looking towards 116.50+
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  • #63,844
  • Jan 28, 2017 7:19am Jan 28, 2017 7:19am
I'm bullish on the pair!
  • #63,845
  • Jan 28, 2017 12:06pm Jan 28, 2017 12:06pm
Quoting dweb
{quote} Here my actual orders. Joping the break out will occur. {image}
Daily already showing a breach to possible Break out to testing a previous doublt top around 118.4x area. If that is breach then 121.x may be on the cards. Interesting week ahead.
Attached Image (click to enlarge)
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We err, and err, and err again, but less.
  • #63,846
  • Jan 28, 2017 10:15pm Jan 28, 2017 10:15pm
I wouldn't be bullish on this pair at the current trading prices. Take a look at the weekly chart. The pair has considerable work to do, to punch through that long bearish candle that commenced January 9. In my view it is a long term buy, but not before a further decline of correction, especially after trumps views on the dollar being too strong, which in my opinion has put a slight weight on the dollars shoulders.
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  • #63,847
  • Jan 29, 2017 1:15am Jan 29, 2017 1:15am
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  • #63,848
  • Jan 29, 2017 6:43am Jan 29, 2017 6:43am
Quoting Denden2012
{quote} There are only 3 options. Buy, Sell or DO NOTHING! If you don't know which position to take, take none. Close your platform and enjoy your weekend.
Wise words there. Taking positions late into Friday = weekend stress, unless there is a clear signal, better to stay on the sidelines and maintain your sanity!

I'm bullish on this pair, my chart is basically same as xfatboi - double bottom following by a breaking of the downtrend. After getting through the current resistance zone, a minimum of 118 seems reasonable. There may be a small retrace/further consolidation before, but I doubt it will be significant.

No positioning atm, looking to buy either on a retrace (possibly 114.6 area) or a break past resistance - but all depends on price action.
  • #63,849
  • Jan 29, 2017 5:40pm Jan 29, 2017 5:40pm
Bull losing steam...time to reload Buy
  • #63,850
  • Jan 29, 2017 7:49pm Jan 29, 2017 7:49pm
pair current at a resistance i see as 114.35 if this is broken i could see it hopping back onto downward trend and seeing sub >112.74
  • #63,851
  • Jan 29, 2017 11:01pm Jan 29, 2017 11:01pm
Bought at 114.5 for now, closely watching.
  • #63,852
  • Jan 30, 2017 12:54am Jan 30, 2017 12:54am
two spots in the yen I'm looking at early....favoring longs to start the week..think I favor the lower one right now....
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Look Sharp/Trade Tight
  • #63,853
  • Jan 30, 2017 1:46am Jan 30, 2017 1:46am
Quoting dweb
{quote} Daily already showing a breach to possible Break out to testing a previous doublt top around 118.4x area. If that is breach then 121.x may be on the cards. Interesting week ahead. Image1.png;2160862 {image}
UJ Monthly... blue area marks the expected bear traps.
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We err, and err, and err again, but less.
  • #63,854
  • Edited 3:10am Jan 30, 2017 2:45am | Edited 3:10am
Took half profit at 114.85, will double trade again when I feel appropriate.

Small and steady

Update: In again at 114.8
  • #63,855
  • Jan 30, 2017 2:47am Jan 30, 2017 2:47am
Quoting Don96
i sold UJ at 115.34 will enter again at 115.4x also posted EJ sell at 123.30 may help both my eu short and uj short {image}
i favour EU drop over UJ drop... so far EJ has dropped from a perfect touch at 123.30... thats good to me, JPY stronger than EURO... im still holding short 115.34 it will be +5 or hit TP
  • #63,856
  • Jan 30, 2017 7:51am Jan 30, 2017 7:51am
Don't really like the look of the 1h, looks a bit h&s.

Im not giving up on longs yet, but at 114 it would look pretty bearish.
  • #63,857
  • Jan 30, 2017 8:10am Jan 30, 2017 8:10am
Quoting PayTheLimit
two spots in the yen I'm looking at early....favoring longs to start the week..think I favor the lower one right now.... {image}
I'm took another look, and I'll bid 113.80 on the damn things if I get a chance...
Look Sharp/Trade Tight
  • #63,858
  • Jan 30, 2017 9:22am Jan 30, 2017 9:22am
how low can she go????
  • #63,859
  • Jan 30, 2017 9:23am Jan 30, 2017 9:23am
is this the place we've been looking to buy?
  • #63,860
  • Jan 30, 2017 10:34am Jan 30, 2017 10:34am
I think a retracement down till 1.09 during next weeks is good possible when i look to bigger timeframe chart, there is a upper channel line that could work later as a resistance.

https://www.mql5.com/en/charts/65010...tional-limited
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