Thread: Discuss USD/JPY, GBP/JPY, and other JPY Pairs

Originally Posted by mihaia2002

very interesting day !!!

look at the daily chart, at the brink of falling or climbing, plus is closed to a cross... based on that i think that falling under today's low is finished, BUT it has plenty of space to go upwards, a breakout is near, whoever has the courage

Hi guys,

Been watching the chop from the sidelines here but I have to agree with you mihaia. You're generous insights are super. IMO it looks like and spikes lower will be limited to 133.50-80. The upside is certainly opening up and a break of 136.40 daily close could send us to 138.61 which is .618 of current correction. Very EXCITING!!

Take care



P.S.- This 4hr bar is very important!!! to go higher -must close at or above 134.17 (edit 134.11), even if a spike down to 133 should occur (9 am EST to 1 pm EST)

SIRFX

Originally Posted by mary silvert

I expect it to take that swing down...we'll see about a swing up. Not sure.

Once it meets the target, that puts it at a neck line on a daily chart that could break or could bounce. Either way, I'll be out of my trade by then.

Here's what I anticipate...one of these two scenarios in the near term.

Originally Posted by sirfx

Hi guys,

Been watching the chop from the sidelines here but I have to agree with you mihaia. You're generous insights are super. IMO it looks like and spikes lower will be limited to 133.50-80. The upside is certainly opening up and a break of 136.40 daily close could send us to 138.61 which is .618 of current correction. Very EXCITING!!

Take care



P.S.- This 4hr bar is very important!!! to go higher -must close at or above 134.17, even if a spike down to 133 should occur (9 am EST to 1 pm EST)

SIRFX

sirfx,

Welcome to the trading community. Great to have you here.

I'm looking for more downside to come in the near term because of the breach of this triangle and of the uptrend line.

No hero trade for me. I'm going to take my 70 pips from my overnight trade down from 135 and bail out down here. Not willing to risk my profit taking the other direction for today...

closed my large trade for 18 pips, i am not patient for this, i am out, even if it sparks to the sky now

hahahahhaha, this is funny, it started going higher, as i said the whole day... but i am out and happy

Is there a number attached to this W curve? Can I buy a vowel?

Thanks, andy

ok, nmind, thanks tho!!

Originally Posted by aclmeister

Is there a number attached to this W curve? Can I buy a vowel?

Thanks, andy

Double tops form "M"s...double bottoms form "W"'s.

Rarely, you'll see "V" shaped tops or bottoms, etc. So there are some letters that Vanna White would be proud of.

Originally Posted by mihaia2002

closed my large trade for 18 pips, i am not patient for this, i am out, even if it sparks to the sky now

hahahahhaha, this is funny, it started going higher, as i said the whole day... but i am out and happy

Im out at +11 pips, annoyed i didnt take 40 pips 10 mins ago, . Every time it trys to climb its getting pushed down to the ascending support line too easily. Indicating to me more that this is heading down.
Boring day - off to do something more exciting. To the pub i go!

Originally Posted by skydiver

Im out at +11 pips, annoyed i didnt take 40 pips 10 mins ago, . Every time it trys to climb its getting pushed down to the ascending support line too easily. Indicating to me more that this is heading down.
Boring day - off to do something more exciting. To the pub i go!

I agree. I skipped morning surgery hoping to see some moolah. arghhhh stupid pair is more sluggish that EUR/GBP. feels like giving a kick on its butt and send it rolling down. lol.

Anyways i hve to be back in work now. so hopefully when i come back in evening i will be glad to see some good news tat it closed below 133. he he.

Sometimes all it takes is one push and one break. the pair just goes rolling after tat. lol.

Originally Posted by Sean Hyman

sirfx,

Welcome to the trading community. Great to have you here.

I'm looking for more downside to come in the near term because of the breach of this triangle and of the uptrend line.

Great to be here thanks...
ALL I CAN SAY IS .....
This is a SCREAMING!!!! LONG!

IMHO


SIRFX

Here's an update on my USD/JPY chart.

Just a quick note on spreads. FXCM have a current spread of around 4.9 to 5 pips whereas another company is at 20-pips for GBP/JPY.

Originally Posted by Sean Hyman

sirfx,

Welcome to the trading community. Great to have you here.

I'm looking for more downside to come in the near term because of the breach of this triangle and of the uptrend line.

Hi just joined and Im wondering when you say near term are you talking in days , hours??

Im short at 134.04 I got a requote and wanted to hit cancel but misssed and stayed with the entry price, I was entering for 134.20.

Also Im triyng to work out what time zone shown in the post time is? Can it be changed to reflect my home time zone?

Thx

edzfx

Originally Posted by sirfx

Great to be here thanks...
ALL I CAN SAY IS .....
This is a SCREAMING!!!! LONG!

IMHO


SIRFX

SirFx -wow! haven't seen you here for years!! - Where've you been?? Great to see you back..

Mike