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

Originally Posted by Uber FX nUblet7

Yup, no rally. I got "pip-slapped" lol. Small loss. Waiting for follow-through the other way.

we could get some relief from this down move soon, maybe till we get another sell on 30 min which maybe could turn for a 4 hour buy (so ill watch closely what price does)
maybe 100 is a good place for that (EURJPY) sell.
tmrw i expect the same kinds of move, which is down. i have shorts open with 3 yen pairs, i got a larger stop then what i normally take, but i have daily/4 hour patterns which told me to sell, but its possible to head back up 100-150- pips to test the break before we head lower.

i was thinking of keeping these trades of swing trades which iff successful would yield a nice 300-400 pips on each and if not successful ill be stopped for a whopping -400 pips.... we shall see
also i might be seeing a 3 of 5th wave down on 4 hour chart, still got the end of 3 to finish and 5. im holding for any retrace i have on 4 hour hence the lager then normal stops i have in place.
point it i see this thing going lower during the week and the further it goes the more pips i make lol

anyway, time to pack up

GL

Attachment 135349

PS........ new 4 hour pivot, if we can stay above it, it will reinforce my view of heading to 100....... support 99.25.......... GL.

Attachment 135352

Originally Posted by jogold18

we could get some relief from this down move soon, maybe till we get another sell on 30 min which maybe could turn for a 4 hour buy (so ill watch closely what price does)
maybe 100 is a good place for that (EURJPY) sell.
tmrw i expect the same kinds of move, which is down. i have shorts open with 3 yen pairs, i got a larger stop then what i normally take, but i have daily/4 hour patterns which told me to sell, but its possible to head back up 100-150- pips to test the break before we head lower.

i was thinking of keeping these trades of swing trades which iff successful would yield a nice 300-400 pips on each and if not successful ill be stopped for a whopping -400 pips.... we shall see
also i might be seeing a 3 of 5th wave down on 4 hour chart, still got the end of 3 to finish and 5. im holding for any retrace i have on 4 hour hence the lager then normal stops i have in place.
point it i see this thing going lower during the week and the further it goes the more pips i make lol

anyway, time to pack up

GL

Attachment 135349

PS........ new 4 hour pivot, if we can stay above it, it will reinforce my view of heading to 100....... support 99.25.......... GL.

Attachment 135352

Sounds good. Maybe an entry at 100.00 if I get stopped for a loss. What is that pink Pivot. What are you using to get that, and how do you use it in your charts? Is that like a 4 or 8 hours pivot. I used to love the 8 hour pivot. but not so forgiving for me with the Euro/Jpy beast. Went back to daily pivots.

im not in for these small scalps but, we i just got a buy. typical support (pivot) playing nicely with price. as long as we close above the supports, mom on the 1 min will continue up.

Originally Posted by Uber FX nUblet7

Sounds good. Maybe an entry at 100.00 if I get stopped for a loss. What is that pink Pivot. What are you using to get that, and how do you use it in your charts? Is that like a 4 or 8 hours pivot. I used to love the 8 hour pivot. but not so forgiving for me with the Euro/Jpy beast. Went back to daily pivots.

yyeee, its diff pivots for diff time frames. pink is 4 hour, but i use 4 hour and 60 min on 1 min. 4 hour and daily on 5, and so on and so forth. when i first started using it, i had so much trouble with the buys and sell's, i would consistently get stopped out, but over time i got a "hang" for it. now i cant live with out them

below is the 60, and 4 hour pivot. then the 4, and daily. the hold idea is to trade with the trend with my system and if u with the trend, then you should be below the pivot. only a change in direction can mess with your trades and for a little while get you stopped out, but i figured ways on how to spot a reversal before it happens and play with it so u dont get smacked in the face lol
sometimes i pass, someimtes i fail, but im on the right side more times then not which is what matter

Originally Posted by TAfool

A while back you asked for recs on software. Tried to send a PM but you are a popular guy and the box was full.

I think one of the better programs is MotiveWave. Not only does it help with e-wave but it also interfaces with FXMC and my TDAmeritrade accounts, as well as several others.
MotiveWave: Stocks, Futures, Options and Forex Trading/Analysis Platform

Tafool;

Am I correct to assume you use this software? If so, do you use the automatic counting features and how accurate do you find the counts that are generated?

TIA

Good Luck.

Originally Posted by Gregory McLeod

EUR/JPY Elliott Wave Counts

I have a Question. According to this (the last chart at the bottom of the list...)chart that Greg Posted. If 99.60 = wave 4 then we should be expecting a 5th wave down consisting of an impulsive 5 smaller waves to complete the 5th wave??



Can anyone confirm or deny this thinking. Price on the Euro/JPY has maxed @ 99.60 and turned back. Looks like one of the wave 4 possibilities?I

Originally Posted by Uber FX nUblet7

I have a Question. According to this (the last chart at the bottom of the list...)chart that Greg Posted. If 99.60 = wave 4 then we should be expecting a 5th wave down consisting of an impulsive 5 smaller waves to complete the 5th wave??



Can anyone confirm or deny this thinking. Price on the Euro/JPY has maxed @ 99.60 and turned back. Looks like one of the wave 4 possibilities?I

There is nothing wrong with your thinking. I think all the pairs are exhibiting b wave corrections in a larger correction. In the case of the EurYen there are 3 complete waves up which may constitute wave A of the larger correction. The down move so far is only 3 and did not clear wave b of the larger wave A which leads me to think correction. Also, the Eur$ has a gap from yesterdays open which should take price back to near the open. It did complete 5 down but again within the confines of the previous b of A. Here, I am thinking either wave 1 is completed or wave B is a zig-zag.

Good Luck.

Originally Posted by aerocom

There is nothing wrong with your thinking. I think all the pairs are exhibiting b wave corrections in a larger correction. In the case of the EurYen there are 3 complete waves up which may constitute wave A of the larger correction. The down move so far is only 3 and did not clear wave b of the larger wave A which leads me to think correction. Also, the Eur$ has a gap from yesterdays open which should take price back to near the open. It did complete 5 down but again within the confines of the previous b of A. Here, I am thinking either wave 1 is completed or wave B is a zig-zag.

Good Luck.

Okay, thanks for your mind. I think I got the general idea of what you were saying. I am definitely so green when it comes to EW. But I don't mind learning something new. If even just a basic comprehension should compliment my trade analysis. Thanks again.

usd/jpy
position taken - long @ 79.57, stop loss -78.70 [to be moved to B/E if reaches 30/40 pip clearance]

have moved stop to breakeven with 15 pips clearance. reason - feels right.

usd/jpy - stopped out at breakeven
may try again but @ lower entry point
seems reluctant to pass the 79.75

Originally Posted by hnr49

usd/jpy - stopped out at breakeven
may try again but @ lower entry point
seems reluctant to pass the 79.75

Hello

Yes looking at the current price action its better to wait for a better entry - the short term down trend is a bit too strong - One trick is to keep track of the lower and lower highs. As long as we see this then we can be short or stay on the sidelines. When we finally stop creating lower and lower high that this would be our cue to go long. I was personally looking to go long AUD/JPY this morning which looked very similar to USD/JPY by having a entry just above 80 but it looks now like the markets have made up their mind to trade lower so I think this will remain the trend at least until the NY session.

Here are some USD/JPY key levels





I was looking at the

thanks alejandro
however, made my usual mistake. looked to me to make another run @ 79.70's. re-entered. now looking @ negative 40 pips.
stop loss @ 78.70.

Long USD/JPY @ 79.25
SL @ 78.95
Exit @ 80.00

Price shows a series of higher lows, and there's a good hammer formation on the lower trendline. Attachment 135474

Originally Posted by Alejandro Zambrano

Hello

Yes looking at the current price action its better to wait for a better entry - the short term down trend is a bit too strong - One trick is to keep track of the lower and lower highs. As long as we see this then we can be short or stay on the sidelines. When we finally stop creating lower and lower high that this would be our cue to go long. I was personally looking to go long AUD/JPY this morning which looked very similar to USD/JPY by having a entry just above 80 but it looks now like the markets have made up their mind to trade lower so I think this will remain the trend at least until the NY session.

Here are some USD/JPY key levels





I was looking at the

Alejandro, did you do your Spread Betting Webinar today? If so can you post a link please? Thanks. I'll bookmark it this time. Sorry.