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USD/JPY Discussion

  • #66,261
  • May 8, 2017 11:12am May 8, 2017 11:12am
Quoting Ryan420
Too many bears are putting their stops at 113.15-20. Any barrier defense at 113.0 is gone. Could very well be a spike there and pullback/continuation.
^^^
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  • #66,262
  • May 8, 2017 11:13am May 8, 2017 11:13am
Quoting NMZee
{quote} For my clarity. You mean to say traders going long from 113.10 or short trades stop loss was at 113.10??
They will short at 113.10
Kashyap Patel
  • #66,263
  • May 8, 2017 11:19am May 8, 2017 11:19am
Quoting diana91
What's the problem with 113? It's not like the new all time high, or something like that, it has been rejected off from there few times by now.
did you not closed all your longs usdyen on Friday?
  • #66,264
  • May 8, 2017 11:23am May 8, 2017 11:23am
Quoting Ryan420
{quote} Shorts entering, placing their buy stops all above the previous 113.05 high. There's a decending trendline that's helping shorts enter, putting more stops there.
ok. I am not aware of these technical terms. For me if price is going up and you want to sell at a cryaon price you put a pending sell limit order. And if you want to buy if a price breaks higher we put a buy stop order. Which triggers a long position from a higher position.
  • #66,265
  • May 8, 2017 11:24am May 8, 2017 11:24am
Quoting NMZee
{quote} ok. I am not aware of these technical terms. For me if price is going up and you want to sell at a cryaon price you put a pending sell limit order. And if you want to buy if a price breaks higher we put a buy stop order. Which triggers a long position from a higher position.
cryoan = higher
  • #66,266
  • May 8, 2017 11:26am May 8, 2017 11:26am
Quoting NMZee
{quote} did you not closed all your longs usdyen on Friday?
Yes. But I am still watching it.
"Don't lose your cool, and you will fare well".
  • #66,267
  • May 8, 2017 11:43am May 8, 2017 11:43am
Quoting NMZee
{quote} cryoan = higher
Long for swing, and short for scalping..
i think its pretty work for me.. LOL..
  • #66,268
  • Edited 1:06pm May 8, 2017 12:48pm | Edited 1:06pm
Quoting NMZee
{quote} ok. I am not aware of these technical terms. For me if price is going up and you want to sell at a cryaon price you put a pending sell limit order. And if you want to buy if a price breaks higher we put a buy stop order. Which triggers a long position from a higher position.
Do you use stops after entry? I'm looking at retail order books and there's still buy stops above the current high, around 113.15. The next level of limit sell orders is just before 113.50.

A lot of shorts were taken out on this move up. Oanda order book before & after:

BEFORE
Attached Image


AFTER
Attached Image


For new traders, this is how order flow traders put together a trade setup.
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  • #66,269
  • May 8, 2017 1:22pm May 8, 2017 1:22pm
Quoting kgodhani
{quote} They will short at 113.10
Thanks i got thst now. Jyst wondering who would be shorting at 113.10. I mean right after breaking last week high when the move towards 113.4x becomes hoghly probable, why will someone short. Anywayssss.
  • #66,270
  • May 8, 2017 1:24pm May 8, 2017 1:24pm
Quoting diana91
{quote} Yes. But I am still watching it.
See, what happens when you are patient.. You got your break but instead you listened to some fomc guys
  • #66,271
  • May 8, 2017 1:26pm May 8, 2017 1:26pm
Quoting antoe
{quote} Long for swing, and short for scalping.. i think its pretty work for me.. LOL..
Trrue say mate. To each his own. Making money is the objective.
  • #66,272
  • May 8, 2017 1:33pm May 8, 2017 1:33pm
Quoting NMZee
{quote} See, what happens when you are patient.. You got your break but instead you listened to some fomc guys
If I let that trade after the FOMC event has finished, my SL would get triggered. And getting SL triggered after so many pips of profit would make me go insane.

I missed the reversal today. That is what I regret right now. However, I might open a new long if UJ stays firmly above 113 tonight .

Ah, missed the bounce off the 113. sigh...
"Don't lose your cool, and you will fare well".
  • #66,273
  • May 8, 2017 2:11pm May 8, 2017 2:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB


Make it or break it...
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #66,274
  • May 8, 2017 2:27pm May 8, 2017 2:27pm
Quoting jorgen.fx
{image} Make it or break it...
It was broken hours ago......
what broker chart are you dwiddling

Pullback 112.80 and go sky high??
Beware of robber banks (RB), bad advisors.
  • #66,275
  • May 8, 2017 5:30pm May 8, 2017 5:30pm
The USDJPY breaks above the 113.00 level and it is currently trying to visit a 76.4% retracement level at the 113.76 zone, shown better on the daily chart of the drop from the 115.50 level to the 108.00 zone.
  • #66,276
  • May 8, 2017 7:11pm May 8, 2017 7:11pm
$ Bulls running out of momentum. Looking like we could see a sizable down draft shortly...
  • #66,277
  • May 8, 2017 8:27pm May 8, 2017 8:27pm
Price hovering @ bearish trendline. If BoJ is done buying we could retest 111.069 by the end of the week...

And bullish trendline is broken, so down we go. Where we stop only the BoJ knows...
  • #66,278
  • May 8, 2017 8:55pm May 8, 2017 8:55pm
Quoting Mwfinad1211
Price hovering @ bearish trendline. If BoJ is done buying we could retest 111.069 by the end of the week... And bullish trendline is broken, so down we go. Where we stop only the BoJ knows...
BoJ is not intervening. UJ would shoot hundreds of pips in a few minutes. BoJ's target is 2% inflation which was to be met years ago.
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  • #66,279
  • May 8, 2017 10:37pm May 8, 2017 10:37pm
It may break at this level. Better to short.
Attached Image (click to enlarge)
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Kashyap Patel
  • #66,280
  • May 8, 2017 10:57pm May 8, 2017 10:57pm
open the order when appear the pattern
Attached Image (click to enlarge)
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