I also think this pair is destined to go lower next week, but hard to say if we'll get all the way to 96. 99 is the 50% Fib for last weeks range...making it a level of confluence and attractive for shorts. Control risk and reward takes care of ...

USD/JPY Discussion

VEE, Weekly USDJPY is a small range pinbar flying buddah. 50% retrace of last week's range & 99.0 are in perfect confluence. Possible that we don't get back to 99 and 98.80 (38.2% Fib of weekly range) ends up being next week's high.

Building an equity millipede

Selling off now like you said. I knew price would struggle once under 99.55. Personally I'm not ready to be a bear. I need to see this down move continue for longer than 8 hours before I start selling. Maybe the bears close the week under 98.80 and ...

USD/JPY Discussion

Yeah I get stopped out at B/E a lot. I actually only take any profit on 10-15% of my trades. Violent selloff to start the new hour...that's never good, but honestly who could have predicted that?. I'm still holding strong. Edit: Out with a few pips ...

USD/JPY Discussion

I don't use TPs. Once I'm up 15-20 pips I'll move my stop to breakeven. At that point I'll either get stopped out for no loss or I'll have a position at the low of day in line with weekly/monthly trend.

USD/JPY Discussion

Asia open is typically a good time to enter new positions. I'm long here...stop at 99.55 (below last 4hr candles low). I'll know quickly whether I'm right or wrong.

USD/JPY Discussion

Amazingly, trading is really that simple!

Building an equity millipede

Fair enough Holmes, but guessing that 2000 pips is too far too fast therefore it must go down is essentially the gamblers fallacy. Looks like the pair is going to close weak and under your 99.80 level.

USD/JPY Discussion

I see you have a daily chart there, but what kind of timeframe are you expecting this move to happen in? I just think its a bit premature to be thinking 96.50. Price seems to be respecting your Fibs to a certain degree...but I'm not sure how you ...

USD/JPY Discussion

Could see 100 before the close of this hour. Edit: But we stall instead.

USD/JPY Discussion

Have to be impressed by this push the last 4 days and now today. We are coming up to last month's highs, but have broken last week's highs. To me EURUSD just looks choppy and only good for day trade and does not look ready to trend for any ...

EURUSD

Not my best call right here. In hindsight the doji 4HR candle I was trying to play maybe wasn't the best signal. Overnight we put in a relatively deep retrace to 61.8% of Monday's range. The 4HR candle that just closed looks much more attractive ...

USD/JPY Discussion

Doesn't look like we'll get back to 99. Expecting the uptrend to resume during next 1-4 hours.

USD/JPY Discussion

Impressive daily close at the highs & 4HR still moving in a straight line. Entirely possible that we see 100 before 99.

USD/JPY Discussion

This pair could fall fast Monday. Last month's candle is a nice looking bear reversal after 7 consecutive up months. Was surprised to see last month retrace as much as it did and close green, but may just be a brief pause before the downtrend ...

EURGBP

Even the 4hr doesn't look like its ready to stop. Possible that this week's low could be found during the first 4 hours of trading. Entry at 97.34, which is last 4hr's 61.8% retrace & Friday's 23.1% daily retrace, with a stop at 97.17 could work.

USD/JPY Discussion

Yeah the report was bad, but you can't fight the tape. Price action is saying for at least the near term future we are in a strong uptrend. Momentum like this won't just disappear so buying dips can be fairly safe. Retrace down to 38.2% of the ...

USD/JPY Discussion

Yeah any significant retraces would be surprising considering the price action. I can't see a retrace past 96.56 which the 61.8% retrace of Friday's move. I like your 96.71 level because that is March's high. I'm going to be aggressive around 97.00. ...

USD/JPY Discussion

Smelling a move to 97.45 before the close. That would put the 50% Fib of this week's range at 95.0 exactly.

USD/JPY Discussion

Yup, this pair is lookin good to go for at least the next week and who knows after that. Can't really tell if I want to try picking another entry today (1 breakeven). There is still time to make a new high, but chances are this area will get ...

USD/JPY Discussion