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USD/JPY Discussion

  • #65,861
  • Apr 27, 2017 6:11am Apr 27, 2017 6:11am
Maybe a bad call but out at B/E. Price bounced from demand and is now visiting for the third time. Too many in my opinion.
Attached Image (click to enlarge)
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  • #65,862
  • Apr 27, 2017 6:30am Apr 27, 2017 6:30am
Quoting eryaran
27.04.2017 Usdjpy 4hr chart https://youtu.be/ARjXYELUms4

Let's see if it holds 111.510 at this point may try for a retouch at 111.8

We have a short term trend from yesterdays low @23:45 extended to 6:30 and 13:00
From there 111.1-111.2 can become an area of demand
Then it comes to the Long Term trend, extended from the 21st @20:15 to the 25th@ 2:45
If or when its break this last final trend, we should definitely see price reach 110.4
And possibly 110.08
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Learn, a forex trader must, unlearn and relearn he will.
  • #65,863
  • Apr 27, 2017 6:59am Apr 27, 2017 6:59am
Quoting Kanzler
Maybe a bad call but out at B/E. Price bounced from demand and is now visiting for the third time. Too many in my opinion. {image}
Hi Kanzler,

Are you trading 1min TF's ? ...If so, Why?

I don't mean to appear rude by asking but a 1min chart is real noise and in spot retail FX (which is a filthy business) you are giving yourself a real mountain to climb..

You are clearly a bright guy but when I read through your post on your current schedule you might be headed for trouble mate.

Why not move out 60 mins or higher? You can trade much larger swings at a more leisurely pace..You simply adjust your position sizing if you need to accommodate larger stops.

Just a thought..
  • #65,864
  • Apr 27, 2017 7:26am Apr 27, 2017 7:26am
I opened a long position on this pair. I think it will rally back up to 111.80 or it might even reach 112.00 again.
  • #65,865
  • Apr 27, 2017 7:28am Apr 27, 2017 7:28am
Quoting FXClarity
{quote} Hi Kanzler, Are you trading 1min TF's ? ...If so, Why? I don't mean to appear rude by asking but a 1min chart is real noise and in spot retail FX (which is a filthy business) you are giving yourself a real mountain to climb.. You are clearly a bright guy but when I read through your post on your current schedule you might be headed for trouble mate. Why not move out 60 mins or higher? You can trade much larger swings at a more leisurely pace..You simply adjust your position sizing if you need to accommodate larger stops. Just a thought.....
I decided it might be better to just go to bed a little earlier and wake up around 4 or 5 to get end of London instead. And no not generally but trying to refine entries on M1 to confirm selling going on. That area I posted was part of a larger area of selling pressure. It didn't hold but if I had taken it blank would have lost a lot more than the break even.
  • #65,866
  • Apr 27, 2017 7:45am Apr 27, 2017 7:45am
Quoting Kanzler
{quote} I decided it might be better to just go to bed a little earlier and wake up around 4 or 5 to get end of London instead. And no not generally but trying to refine entries on M1 to confirm selling going on. That area I posted was part of a larger area of selling pressure. It didn't hold but if I had taken it blank would have lost a lot more than the break even.
Fair enough..The reason I asked is because if, like many in here you are pursuing your ambition of becoming a Trader, the reality is the journey ahead is a long one and requires 'pacing';

If you make it to the other side it might pan out something like this..

 

  1. Demo trading to craft and hone your trading strategy and position sizing rules to develop a clear trading plan
  2. Real trading a live account to get consistency and tweak
  3. Getting confident in your execution and consistency
  4. Propbably opening a new account with the adjustments youve made to be more 'marketable' as a money manager
  5. Trading this account yourself for a good 12months to demonstrate credibility

At this stage most of us had earned loose change from our trading and were NOT living off Trading profits AND for most its a good 5 year plan..

Trading 1min timeframes is fine in many markets but more so a challenge in Retail SpotFX unless you are with a very good Prop house or Bank..

  • #65,867
  • Apr 27, 2017 8:36am Apr 27, 2017 8:36am
i am done with uj for this week, happy weekend folks
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  • #65,868
  • Apr 27, 2017 9:18am Apr 27, 2017 9:18am
Hey all - can anyone help me out with a nice, clean PP indicator for MT4 please?

Thanks in advance!
Focus.
  • #65,869
  • Apr 27, 2017 9:28am Apr 27, 2017 9:28am
Quoting Marco-Kanto
Hey all - can anyone help me out with a nice, clean PP indicator for MT4 please? Thanks in advance!
is this what you are looking for or am I misunderstanding.
Attached File(s)
File Type: mq4 Pivot_Points_-_Daily_sShiftedd.mq4   11 KB | 325 downloads
Trade
  • #65,870
  • Apr 27, 2017 9:52am Apr 27, 2017 9:52am
Hm time to close the gap? Thursday afternoon after they killed all shorts sounds like a good time for BBs to start it.
  • #65,871
  • Apr 27, 2017 9:54am Apr 27, 2017 9:54am
Why the drop in the last 30 mins? Big boys dumping?
  • #65,872
  • Apr 27, 2017 9:58am Apr 27, 2017 9:58am
Quoting pohchuan
Why the drop in the last 30 mins? Big boys dumping?
I think pending home sales data.
  • #65,873
  • Apr 27, 2017 10:13am Apr 27, 2017 10:13am
Quoting Starcraftmaz
{quote} I think pending home sales data.
Will probably hit below 110 before the weekend...
  • #65,874
  • Apr 27, 2017 10:32am Apr 27, 2017 10:32am
When the reinforcement stays accurate without a gap certain we could be down another 2x. 140.5 acting firmly but the break of 105 could see us through to the centre @ 112.5ish. Stay Glued to your mission. Sell when due and buy when it is ripe
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Keep the Lights on then you can catch the rise from the dark.
  • #65,875
  • Apr 27, 2017 10:34am Apr 27, 2017 10:34am
Quoting Arnoud
{quote} is this what you are looking for or am I misunderstanding. {file}
THANK YOU - exactly what i was looking for!
Focus.
  • #65,876
  • Apr 27, 2017 10:51am Apr 27, 2017 10:51am
lets welcome back our big brother BEAR!
  • #65,877
  • Apr 27, 2017 1:45pm Apr 27, 2017 1:45pm
Quoting Kanzler
.... Too many in my opinion....
market doesn't count your opinion at all.
  • #65,878
  • Edited 3:03pm Apr 27, 2017 2:52pm | Edited 3:03pm
Quoting ruma29
{quote} market doesn't count your opinion at all.
Unnecessarily smartass reply but apparently you didnt look at the chart after as price rallied strongly through it last visit. No more orders, no more cap on price. Thank you for your two cents though.
  • #65,879
  • Apr 27, 2017 3:02pm Apr 27, 2017 3:02pm
Quoting Kanzler
{quote} Unnecessarily smartass reply but apparently you didnt look at the chart after as price rallied strongly through it last visit. No more orders, no more cap on price. Thank you for your two cents though.
I guess it ain't just politics, huh?
  • #65,880
  • Apr 27, 2017 3:04pm Apr 27, 2017 3:04pm
Quoting Ratmach
{quote} I guess it ain't just politics, huh?
I used to be a nice guy, I swear. Then I spent two years living with my ex.
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