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USD/JPY Discussion

  • #65,641
  • Apr 25, 2017 2:54am Apr 25, 2017 2:54am
5Mins to closing on the hour
  • #65,642
  • Apr 25, 2017 3:11am Apr 25, 2017 3:11am
Going to take a risk here and add to my position. Targeting the high, then I'm going to bed. 3:11AM. If I get stopped out on the addition, still going to bed lol.
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  • #65,643
  • Apr 25, 2017 3:18am Apr 25, 2017 3:18am
Quoting Trade-G
{quote} 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
Okay, in fairness ask two traders to view the same chart and they may have a different opinion.

I trade into larger swings so your objectives may differ from mine but on my chart using the methodology I deploy - there is no bearish bias and the price is in its upward channel trending upwards which is why I didn't short it yesterday because my analysis was that price had not given a clear entry to sell that would present a high probability of it testing the breakout level on the 60 mins which also sat in the GAP UP.

The fact that although the price did move down it has bounced straight back up and did not test the level or fill the gap therefore it would not have allowed me to exit my trade at the target level..implies I may have taken the correct action to have sat on my hands and seek business elsewhere.
  • #65,644
  • Apr 25, 2017 3:20am Apr 25, 2017 3:20am
Quoting Trade-G
Shorted at top twice for some cheap thrill scalps
I wish you luck but for cheap thrills I buy a lotto ticket...When it comes to trading its strictly business - my family depend upon me.
  • #65,645
  • Apr 25, 2017 3:37am Apr 25, 2017 3:37am
Quoting FXClarity
{quote} Okay, in fairness ask two traders to view the same chart and they may have a different opinion. I trade into larger swings so your objectives may differ from mine but on my chart using the methodology I deploy - there is no bearish bias and the price is in its upward channel trending upwards which is why I didn't short it yesterday because my analysis was that price had not given a clear entry to sell that would present a high probability of it testing the breakout level on the 60 mins which also sat in the GAP UP. The fact that although...
I understand where you are coming from, higher timeframe traders like yourself will be more bullish inevitably as various structure levels are broken. I trade both sides so it does not matter to me intraday. The H1 although gapped up on Monday was stopped and got pushed down at weekly structure levels, I see the way it got pushed down on the hourly yesterday confirmed bearishness on H1 timeframe, having said that it tried to test the resistance region which will negate the bearish pattern if it overcome, and as of right now it seems holding up (23 mins to closing to the hour). Not forgetting the pocket and gap below which needs to be taken care of.
  • #65,646
  • Apr 25, 2017 3:38am Apr 25, 2017 3:38am
this trendline has been on my chart since yesterday .. watching it again & got limits to sell new highs & a little inside this one
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Trade
  • #65,647
  • Apr 25, 2017 3:41am Apr 25, 2017 3:41am
5mins is still bullish, no signs of reversal yet...
  • #65,648
  • Apr 25, 2017 3:45am Apr 25, 2017 3:45am
Anything can happen on an inside day... hahaha happy discipline trading....
  • #65,649
  • Apr 25, 2017 3:48am Apr 25, 2017 3:48am
Quoting Trade-G
Anything can happen on an inside day... hahaha happy discipline trading....
We'll see. I just realized I misposted - thought I was replying to a EURUSD post (since deleted). Bulls might be weakening on yen too though, was almost stopped out and just requires another low to confirm rally is over for the moment.
  • #65,650
  • Apr 25, 2017 3:49am Apr 25, 2017 3:49am
Quoting Trade-G
{quote} I understand where you are coming from, higher timeframe traders like yourself will be more bullish inevitably as various structure levels are broken. I trade both sides so it does not matter to me intraday. The H1 although gapped up on Monday was stopped and got pushed down at weekly structure levels, I see the way it got pushed down on the hourly yesterday confirmed bearishness on H1 timeframe, having said that it tried to test the resistance region which will negate the bearish pattern if it overcome, and as of right now it seems holding...

Sure, different strokes for different folks eh

Gaps form an integral part of my methodology...If you ever wish to review some of my previous posts I often make reference to them and I have a strong track record of getting my target levels.

..and yes I agree with you. At some point the gap will be filled and the breakout level will be tested. I posted yesterday that a trader has two options in this scenario.

Rather than trade into it blindly and tie up capital that could be deployed elsewhere..I'll await a clear entry that allows me to launch an assault...As of now I have no appetite to short it.
  • #65,651
  • Apr 25, 2017 3:51am Apr 25, 2017 3:51am
5mins very structured and orderly uptrend, but was wondering if such will last, but hey if its up its up...
  • #65,652
  • Apr 25, 2017 3:52am Apr 25, 2017 3:52am
Spoke too soon on bulls being done? Almost at target...
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  • #65,653
  • Apr 25, 2017 3:54am Apr 25, 2017 3:54am
Quoting Trade-G
5mins very structured and orderly uptrend, but was wondering if such will last, but hey if its up its up...
The best place for the 5 min charts is in the bin mate..Unless you really know what your doing and use them in combination with longer timeframes...I believe PayTheLimit also made this point in here recently..
  • #65,654
  • Apr 25, 2017 3:55am Apr 25, 2017 3:55am
Quoting FXClarity
{quote} Sure, different strokes for different folks eh Gaps form an integral part of my methodology...If you ever wish to review some of my previous posts I often make reference to them and I have a strong track record of getting my target levels. ..and yes I agree with you. At some point the gap will be filled and the breakout level will be tested. I posted yesterday that a trader has two options in this scenario. Rather than trade into it blindly and tie up capital that could be deployed elsewhere..I'll await a clear entry that allows...
Admittingly I agree with you on this one, when in doubt and not clear don't trade, took me bruises and injuries to learn that.... hmmm I supposed you have in depth study on gaps then..... what is good now since almost every pair in compression ?
  • #65,655
  • Apr 25, 2017 3:56am Apr 25, 2017 3:56am
Bullish price action for a potential move to the upside from support area
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  • #65,656
  • Apr 25, 2017 3:57am Apr 25, 2017 3:57am
Quoting FXClarity
{quote} The best place for the 5 min charts is in the bin mate..Unless you really know what your doing and use them in combination with longer timeframes...I believe PayTheLimit also made this point in here recently..
Yes you are right, signals on the lower timeframe can get destroyed when hightimeframe players move. Yes sir I see multiple timeframe.
  • #65,657
  • Apr 25, 2017 3:59am Apr 25, 2017 3:59am
Ladies and gentlemen I am done for the night. A lot of low risk entries tonight, good luck for the rest of the session.
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  • #65,658
  • Apr 25, 2017 4:00am Apr 25, 2017 4:00am
Quoting Trade-G
{quote} Admittingly I agree with you on this one, when in doubt and not clear don't trade, took me bruises and injuries to learn that.... hmmm I supposed you have in depth study on gaps then..... what is good now since almost every pair in compression ?
I'm in a swing trade on another pair but I don't bother posting my trades so much now as I have nothing to gain from it. (Not wishing to sound rude but I'm sure you can see my point).
  • #65,659
  • Apr 25, 2017 4:01am Apr 25, 2017 4:01am
Quoting Kanzler
Ladies and gentlemen I am done for the night. A lot of low risk entries tonight, good luck for the rest of the session. {image}
Well done man ! and nice structured up trend on the min
  • #65,660
  • Apr 25, 2017 4:04am Apr 25, 2017 4:04am
Quoting FXClarity
{quote} I'm in a swing trade on another pair but I don't bother posting my trades so much now as I have nothing to gain from it. (Not wishing to sound rude but I'm sure you can see my point).
I know what you mean, still it will be good to guide people like me hahahha..... trading and chart reading is an art man.... Doctorates are easy Chart reading is ancient man !
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