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USD/JPY Discussion

  • #65,621
  • Apr 24, 2017 8:46pm Apr 24, 2017 8:46pm
gold monthly in a vicious wedge of death
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  • #65,622
  • Apr 24, 2017 9:06pm Apr 24, 2017 9:06pm
Big money took a stab into the level to scare everyone, but good rejection on my long so far, promising. Will target about 110.24 as final level unless I start seeing support build underneath. R/R would have been much better but had to add two pips (almost double the zone) in order to overcome spread. Target entry was that little consolidation on the leg up.
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  • #65,623
  • Apr 24, 2017 9:23pm Apr 24, 2017 9:23pm
Quoting Kanzler
Big money took a stab into the level to scare everyone, but good rejection on my long so far, promising. Will target about 110.24 as final level unless I start seeing support build underneath. R/R would have been much better but had to add two pips (almost double the zone) in order to overcome spread. Target entry was that little consolidation on the leg up. {image}
Sorry to hear that, but doesn't seem to be a bullish trend yet, it's basically caressing a resistance area (ex-support, good one). So the market needs more impulse to come and break through. What you're seeing right now is a gap (to be filled soon) due to EUR move and soon the previous trend should be resumed, so, more bearish than bullish for now and then, yes, the bulls will take the lead for some weeks. It's expected a very rewardable move. Of course everything can change, so, attention to the signals and beware of fake outs.
Hey buddy, let's grab some Pips!
  • #65,624
  • Apr 24, 2017 9:27pm Apr 24, 2017 9:27pm
Quoting WhiteMouseFX
{quote} Sorry to hear that, but doesn't seem to be a bullish trend yet, it's basically caressing a resistance area (ex-support, good one). So the market needs more impulse to come and break through. What you're seeing right now is a gap (to be filled soon) due to EUR move and soon the previous trend should be resumed, so, more bearish than bullish for now and then, yes, the bulls will take the lead for some weeks. It's expected a very rewardable move. Of course everything can change, so, attention to the signals and beware of fake outs.
What's sorry to hear about? I'm making good pips on this. The white box is the area I wanted to enter at, but had to add two pips on top because of Gain's 2 pip spread on this pair which is kindof what you have to deal with on M1. Demo account, but still a great entry. I have a hard time catching them because I work full time as well though so can't sit in front of the computer all day to watch. Trying to make more calls where I post before I take them. Keeps me honest.
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  • #65,625
  • Apr 24, 2017 9:57pm Apr 24, 2017 9:57pm
Still holding despite it moving back on me. Maybe I'm being foolish but think the larger time frame play on this will work. We'll see. Could have exited when the gap was breached at the supply level but thought maybe it would bounce a little earlier before getting back to the base where it took off from. Exits are always where I struggled, but maybe this will still pay off with holding and being patient. Or maybe I will make a fool of myself?

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Edit: On second though, think I'm going to change take profit to this area here. Looks to be a significant obstacle to moving farther up, although probably safe to buy when it gets to the floor again.

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  • #65,626
  • Apr 24, 2017 10:11pm Apr 24, 2017 10:11pm
Quoting Kanzler
{quote}. I have a hard time catching them because I work full time as well though so can't sit in front of the computer all day to watch. Trying to make more calls where I post before I take them. Keeps me honest. {image}
why don't you move up to some higher TF's man?
Look Sharp/Trade Tight
  • #65,627
  • Apr 24, 2017 10:14pm Apr 24, 2017 10:14pm
I'm keeping an eye on 111.35/40 for now...
Look Sharp/Trade Tight
  • #65,628
  • Apr 24, 2017 10:15pm Apr 24, 2017 10:15pm
Quoting PayTheLimit
{quote} why don't you move up to some higher TF's man?
It's a demo. I'm more in it to see if I can pinpoint the entries and make reasonable exits at the moment. I also watch the higher time frame, there were some good trades on Cable recently with similar setup. Might be something on the daily forming but takes ages to execute anything.
  • #65,629
  • Apr 24, 2017 10:21pm Apr 24, 2017 10:21pm
Quoting Kanzler
{quote} It's a demo. I'm more in it to see if I can pinpoint the entries and make reasonable exits at the moment. I also watch the higher time frame, there were some good trades on Cable recently with similar setup. Might be something on the daily forming but takes ages to execute anything.
I'm sure you can bro, you seem like a bright chap. Slide down to the 4hr, fair amount of stuff there , few good trades a week, more than enough to make it worth your while
Look Sharp/Trade Tight
  • #65,630
  • Edited 10:42pm Apr 24, 2017 10:25pm | Edited 10:42pm
Quoting PayTheLimit
{quote} I'm sure you can bro, you seem like a bright chap. Slide down to the 4hr, fair amount of stuff there , few good trades a week, more than enough to make it worth your while
I will definitely keep an eye on it. I love the higher time frames, but I find that sometimes the key decision points tend to be on the lower levels for the super high reward trades. But maybe it's worth it to not spend so much time watching M1 chart to have a lower ratio. I appreciate the advice.

Edit: Reached take profit, flat.
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  • #65,631
  • Apr 25, 2017 12:09am Apr 25, 2017 12:09am
Retest of 110.6 tonight?
  • #65,632
  • Apr 25, 2017 12:14am Apr 25, 2017 12:14am
Quoting Starcraftmaz
Retest of 110.6 tonight?
I sure hope so but that's long way off. Got into long position again just a minute ago, will see if it can hold on.
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  • #65,633
  • Apr 25, 2017 12:19am Apr 25, 2017 12:19am
Good afternoon...
  • #65,634
  • Apr 25, 2017 12:22am Apr 25, 2017 12:22am
We are pretty much back to where we were when I posted that for me at least, there was no safe entry short for a test of the breakout level but I must admit when I looked in last night I thought this one had gone without me.

Still have no entry short and still see the uptrend fully intact but this could get interesting soon.
  • #65,635
  • Apr 25, 2017 12:24am Apr 25, 2017 12:24am
Ninja some strength has, still keeping the resistance at 110.27 region is key to watch. If resistance remain, bearishness may continue
  • #65,636
  • Apr 25, 2017 12:25am Apr 25, 2017 12:25am
On the hourly, that's the level to break the bearish bias, will bulls win?
  • #65,637
  • Apr 25, 2017 12:28am Apr 25, 2017 12:28am
I'm going to hold on until I see some sign of bigger short orders being put down. Not much in the way of easy to pick targets on the upside at the moment.
  • #65,638
  • Apr 25, 2017 12:28am Apr 25, 2017 12:28am
Quoting Trade-G
On the hourly, that's the level to break the bearish bias, will bulls win?
I see no bearish bias whatsoever, the price is trending upwards on the hourly...I've made reference to that several times.

Added: which is why the breakout level wasn't tested and the gap is yet to fill.
  • #65,639
  • Apr 25, 2017 12:48am Apr 25, 2017 12:48am
Shorted at top twice for some cheap thrill scalps
  • #65,640
  • Apr 25, 2017 12:50am Apr 25, 2017 12:50am
Quoting FXClarity
{quote} I see no bearish bias whatsoever, the price is trending upwards on the hourly...I've made reference to that several times. Added: which is why the breakout level wasn't tested and the gap is yet to fill.
I see a bearish pattern up there on the H1, now its at the juncture where it will either work for bears or the bulls will have it destroyed
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