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USD/JPY Discussion

  • #65,561
  • Apr 24, 2017 1:24am Apr 24, 2017 1:24am
going short 110.15
  • #65,562
  • Apr 24, 2017 1:27am Apr 24, 2017 1:27am
Quoting PatienceFx
going short 110.15
Me too (teensy weensy one, though).
  • #65,563
  • Apr 24, 2017 1:29am Apr 24, 2017 1:29am
Quoting PatienceFx
going short 110.15
m5 100 sma action
  • #65,564
  • Apr 24, 2017 1:38am Apr 24, 2017 1:38am
Quoting Ratmach
{quote} Me too (teensy weensy one, though).
teeny weeny do wonders in risky conditions
Attached Image (click to enlarge)
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  • #65,565
  • Apr 24, 2017 1:41am Apr 24, 2017 1:41am
Quoting PatienceFx
going short 110.15
Aiming for anyplace in particular?

Ah, nevermind... I just saw your chart.
  • #65,566
  • Apr 24, 2017 1:44am Apr 24, 2017 1:44am
Quoting Ratmach
{quote} Aiming for anyplace in particular?
just scalping

Inserted Video
  • #65,567
  • Apr 24, 2017 1:49am Apr 24, 2017 1:49am
Quoting PatienceFx
{quote} just scalping https://www.youtube.com/watch?v=eopJea-f6rY
Ha! Never seen that video
  • #65,568
  • Apr 24, 2017 4:52am Apr 24, 2017 4:52am
tis was a good scalp
  • #65,569
  • Apr 24, 2017 4:56am Apr 24, 2017 4:56am
going for rinse n repeat multiple times, love it
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  • #65,570
  • Apr 24, 2017 5:20am Apr 24, 2017 5:20am
Are you stopped out PatienceFX? 110.07 an important level, I reckon if it becomes support it might charge up, its now resisted at your stop loss level, double top on the 5min?
  • #65,571
  • Apr 24, 2017 5:49am Apr 24, 2017 5:49am
Quoting Trade-G
Are you stopped out PatienceFX? 110.07 an important level, I reckon if it becomes support it might charge up, its now resisted at your stop loss level, double top on the 5min?
rinse n repeat
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  • #65,572
  • Apr 24, 2017 5:55am Apr 24, 2017 5:55am
There are at least two very strong technical reasons for this Gap to be closed - and it will be closed.

The key is to how best to capitalise on it without being carved up if it continues to trend higher past the breakout zone.

 

  1. Simply short it at no leverage and grid re- entries through higher with a % risk of the overall account
  2. Await a clear entry signal which allows a technical level where a stop will be placed

At present, I'm sitting it out..

  • #65,573
  • Apr 24, 2017 6:01am Apr 24, 2017 6:01am
Quoting FXClarity
{quote} How about a pit stop at 110? ...Hasn't really been tested yet has it...
After the drop from 118 and a sucker punch under 109; a test of 110 was always on the cards...Problem is so many get over excited in a trend they don't see the bend..
  • #65,574
  • Apr 24, 2017 6:25am Apr 24, 2017 6:25am
Quoting FXClarity
{quote} After the drop from 118 and a sucker punch under 109; a test of 110 was always on the cards...Problem is so many get over excited in a trend they don't see the bend..
You are right that the gap will be covered or at least half gap, looking for clues on the M5 for reversal, right now a potential 123 in the making hourly pivot at 110.01 to break for meaningful downside?
  • #65,575
  • Apr 24, 2017 6:36am Apr 24, 2017 6:36am
Quoting Trade-G
{quote} You are right that the gap will be covered or at least half gap, looking for clues on the M5 for reversal, right now a potential 123 in the making hourly pivot at 110.01 to break for meaningful downside?
Agreed..Half the Gap to the breakout level is a no brainer retrace but this pair has gone long off the bull Flag formation on the 60 mins and its right in that channel now and quite a distance above the lower channel trend line.

Personally I've just got it running in the background as its not screaming 'short' for me just yet (only my take on it).

For me its either; be Long or flat within the timeframe I'm observing.
  • #65,576
  • Apr 24, 2017 6:48am Apr 24, 2017 6:48am
if the daily close is above 110.6, then i think it will go to 111.6
Don't Worry Be Happy
  • #65,577
  • Apr 24, 2017 7:00am Apr 24, 2017 7:00am
Quoting FXClarity
{quote} Agreed..Half the Gap to the breakout level is a no brainer retrace but this pair has gone long off the bull Flag formation on the 60 mins and its right in that channel now and quite a distance above the lower channel trend line. Personally I've just got it running in the background as its not screaming 'short' for me just yet (only my take on it). For me its either; be Long or flat within the timeframe I'm observing.
The gap up is kept at prev month low also at about EMA200, if this compression is not going to clear upside soon, its gonna close at least the pocket below or half gap. This bounce on the weekly scenerio may continue to be bearish, and clearing 109 may point to the bear flag continuation on weekly to target 106? Do bear in mind 110.90 is the region to clear for any bullish bias to continue. Just trying to read charts, do point to me if any alternative view.... by the way I don't see your bullflag on the 60min
  • #65,578
  • Apr 24, 2017 7:04am Apr 24, 2017 7:04am
Quoting MrPresident
if the daily close is above 110.6, then i think it will go to 111.6
Ok great ! your bullish scenario ties in with mine.... am off the table looking for next entry, the range movement sucked me out abit today angry ! lol....
  • #65,579
  • Apr 24, 2017 7:06am Apr 24, 2017 7:06am
Quoting Trade-G
{quote} Ok great ! your bullish scenario ties in with mine.... am off the table looking for next entry, the range movement sucked me out abit today angry ! lol....
yea, be careful because it can swing both ways this week due to Trump speaking about his tax plan and the BOJ decision
Don't Worry Be Happy
  • #65,580
  • Apr 24, 2017 7:11am Apr 24, 2017 7:11am
Quoting MrPresident
{quote} yea, be careful because it can swing both ways this week due to Trump speaking about his tax plan and the BOJ decision
Yeap... looking at it, 110.28 swing high resistance on the hourly....
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