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USD/JPY Discussion

  • #64,781
  • Mar 23, 2017 5:34pm Mar 23, 2017 5:34pm
Quoting petehnm
{quote} good afternoon narafa..was wondering where you were getting your stats on the buyers..?
Oanda.
  • #64,782
  • Mar 23, 2017 5:46pm Mar 23, 2017 5:46pm
Quoting narafa
{quote} Oanda.

Thank you my friend..I appreciate it.....
  • #64,783
  • Mar 23, 2017 6:21pm Mar 23, 2017 6:21pm
Quoting petehnm
{quote} Thank you my friend..I appreciate it.....
You are more than welcome, don't mention.
  • #64,784
  • Mar 23, 2017 8:18pm Mar 23, 2017 8:18pm
Any idea if the USD is going up, news came and the yen went down a little
  • #64,785
  • Mar 23, 2017 8:51pm Mar 23, 2017 8:51pm
Quoting narafa
Well, I tried a long at 112.70, but got out with my small loss at 112.35. On Tuesday, I got the illusion during London session that it had already bottomed out and staging a rally for above 113, hell I was wrong. Now, it's really amazing to see how many buy orders are clustered all the way up to 109.60, it will be a magnet pulling the price to it, sort of inevitable.
Never take real that "oanda (or any other broker) position stats", because that all is cents for market. There can be 75% long, but market go short...
  • #64,786
  • Mar 24, 2017 3:21am Mar 24, 2017 3:21am
I see institutional massive sells yens and buys dollars and aims to 130 level. Thats good. But by the market rules 111.5 level must me shorted to the important 110.2 to confirm weekly uptrend. From 110.2 we can expect a huge jump to the sky.
110.2 is a key point for the long term bears and bulls.
Falling below will close the sky gate @118.
I don't think we would leave 110.2 untouched.
Forcemeat can not be unrolled back...
  • #64,787
  • Mar 24, 2017 4:02am Mar 24, 2017 4:02am
FXClarity sent you a PM
  • #64,788
  • Mar 24, 2017 4:12am Mar 24, 2017 4:12am
catroot you ain't see nothing there is no 130 quit dreaming. 110 there is a big size option expiring today for 1.6 bln USD, so yes, 110 likely be tested before USDJPY turns but don't get hyped out there is no 130 it can re-test highs near 120 though but will take time.
  • #64,789
  • Mar 24, 2017 4:15am Mar 24, 2017 4:15am
already posted this in my own thread.
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  • #64,790
  • Mar 24, 2017 4:25am Mar 24, 2017 4:25am
Quoting asgcorp
FXClarity sent you a PM
Lol - just replied mate..Looks like our methods may be in line.
  • #64,791
  • Edited 7:27am Mar 24, 2017 6:26am | Edited 7:27am
Quoting frx_trader
{quote} UJ and Nikkei are somehow related to Gold.
Do you know if this is a constant or just a phase ..?


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If this bounces then I will probably be putting buy stops in the box
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  • #64,792
  • Mar 24, 2017 7:27am Mar 24, 2017 7:27am
Quoting Arnoud
{quote} Do you know if this is a constant or just a phase ..?
Nothing is for certain in market. But somehow they correlated. But everything can change. You have to watch intraday market if there is divergence. NZDUSD was related to Gold. Recent they diverge. Maybe someday, Gold, UJ, and Nikkei can diverge.

But if Gold arises, I would prefer to buy EU and sell EJ and UJ. But it depends on conditions of the market.

I usually look for triangles and break out confirmation.
  • #64,793
  • Mar 24, 2017 7:31am Mar 24, 2017 7:31am
Quoting frx_trader
{quote} Nothing is for certain in market. But somehow they correlated. But everything can change. You have to watch intraday market if there is divergence. NZDUSD was related to Gold. Recently it diverges. Maybe someday, Gold, UJ, and Nikkei can diverge. But if Gold arises, I would prefer to buy EU and sell EJ and UJ. But it depends on conditions of the market.
Ok thanks for the response , So taking out of your explanation would it be okay to assume that gold correlates with different markets based on a (simple)risk on risk off check using the S&P or the DOW or something ?

And when risk is on the correlation increases with currencies such as NZD / AUD / JPY / because we are buying gold instead of dollars and as we know the JPY is also a safe haven currency just as gold is a safe haven for traders when it is risk off it is more Dollar Related as we are not buying the commodity but rather buy dollars as risk = off .

Just my thoughts following your explanation and probably wrong on some points.
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  • #64,794
  • Mar 24, 2017 7:36am Mar 24, 2017 7:36am
UJ/gold inversely correlated but not super strong lately.
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  • #64,795
  • Mar 24, 2017 7:44am Mar 24, 2017 7:44am
Quoting Arnoud
{quote} Ok thanks for the response , So taking out of your explanation would it be okay to assume that gold correlates with different markets based on a (simple)risk on risk off check using the S&P or the DOW or something ? And when risk is on the correlation increases with currencies such as NZD / AUD / JPY / because we are buying gold instead of dollars and as we know the JPY is also a safe haven currency just as gold is a safe haven for traders when it is risk off it is more Dollar Related as we are not buying the commodity but rather buy dollars...
It depends on where you buy. You should look at the pivot. Do you buy at the previous day pivot,below, or above? I use 3 indicators 10 XMA, 48 XMA, and a typical price graph. Also consider the daily and hourly candles setup. Once you are certain, then set your SL and TP. And leave it. That way you can test your trading skill in a demo account. Good luck.
  • #64,796
  • Mar 24, 2017 7:46am Mar 24, 2017 7:46am
111.00 seems to be holding for now.
I am trying a small long with a target of 111.70 and a stop at 110.65 in case it goes wrong.
It's a big game.
  • #64,797
  • Mar 24, 2017 8:04am Mar 24, 2017 8:04am
Quoting frx_trader
{quote} It depends on where you buy. You should look at the pivot. Do you buy at the previous day pivot,below, or above? I use 3 indicators 10 XMA, 48 XMA, and a typical price graph. Also consider the daily candles setup. Once you are certain, then set your SL and TP. And leave it. That way you can test your trading skill in a demo account. Good luck.
trading demo`s is easy if you consider it a demo .. Its just learning to do the really obvious things and go absolutely mental on it.. at least that is how it has been for me lately , I used to trade supply and demand and try to snipe the market getting a really good month followed by a slump ( probably my ego) so I started trying to diversify and trade more accounts with different parameters still trading supply and demand somewhat but from a trading perspective instead of a zone perspective.

Good luck to you to

PS : I don`t really understand how this would be relevant to Gold`s correlation between different markets but if we are going this way then I will follow

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PS 2 : Made some on that buy stop thing and had buy limits in the pullback ... all out and flat on this one for now .
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  • #64,798
  • Mar 24, 2017 8:10am Mar 24, 2017 8:10am
Quoting Arnoud
{quote} trading demo`s is easy if you consider it a demo .. Its just learning to do the really obvious things and go absolutely mental on it.. at least that is how it has been for me lately , I used to trade supply and demand and try to snipe the market getting a really good month followed by a slump ( probably my ego) so I started trying to diversify and trade more accounts with different parameters still trading supply and demand somewhat but from a trading perspective instead of a zone perspective. Good luck to you to PS : I don`t really understand...
Well, if you don't like Gold indicator, please avoid and don't look at it.

Buy at 111.15, SL 111.00. TP 111.50 -60. Hourly candles indicate higher low and higher high. Hope it gets there.
  • #64,799
  • Mar 24, 2017 8:16am Mar 24, 2017 8:16am
Quoting frx_trader
{quote} Well, if you don't like Gold indicator, please avoid and don't look at it.
I have got no opinion on it besides having used it as a trading indicator for the eur/usd whenever the dollarindex was acting up again which went okay.

Not focussed on it now but interested in why , when and with what it correlates at certain moments and when that correlation is weaker and more importantly how I can gauge that correlation just using instruments available to me instead of using ( no offence because it is a legit site) stats from myfxbook so I can actually refrain from using the indicator it if it does not work because as you said "Nothing is for certain in the market ".
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  • #64,800
  • Mar 24, 2017 8:21am Mar 24, 2017 8:21am
Quoting Arnoud
{quote} I have got no opinion on it besides having used it as a trading indicator for the eur/usd whenever the dollarindex was acting up again which went okay. Not focussed on it now but interested in why , when and with what it correlates at certain moments and when that correlation is weaker and more importantly how I can gauge that correlation just using instruments available to me instead of using ( no offence because it is a legit site) stats from myfxbook so I can actually refrain from using the indicator it if it does not work because as...
Correlation is the worst indicator. I don't use it much, and don't believe that things have to move in tandem.
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