Do anyone trade this pair? And am I the only one bearish next week? :33:
I’m bearish on this pair since 10 days ago. Bearish are also some big sharks in the market from what I heard, so be optimistic:18:
usd/jpy is just testing the resistance 83.83 right now
this is the turning point either bull or bear
if it’s bull the next resistance will be at 85.2
wait for trade to setup, it will be profitable position, once confirmed if bear or bull
NorwoodFX and ovisun, do you both mean that your outlook is bearish or that you are actually holding short positions?
Maybe the “big sharks”, whoever they are, are bearish or maybe that’s what they want you to think and they are setting a bear trap, who knows and to be frank who cares.
You don’t say what time frame either of you trade but the daily chart is going up and has yet to make a lower low. Price is approaching a band of resistance between 84.20 and 85.60 making it 140 pips deep. Price might stall and reverse somewhere inside this band or it might blast straight on up and through it.
As and when I see a daily bearish hammer on the edge or inside the resistance band or I see price make lower highs and lower lows I’ll consider a short trade.
I’ve been long since the 5th of December. Up 100 pips. It’s too soon to tell if the trend has come to an end. It may drop early next week, but for now my long term bias is still bullish.
Took 10 pips, I was short today. Usually, I avoid this pair.
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
I was short on daily timeframe. The main word is “was”, because now my account is blown up. Maybe “the big sharks” were in my imagination, or they set a trap, I don’t know and I don’t care. Luckily the account was not too big.
Ouch.
Why would you let one trade bust your account?
Yeah, not obeying risk management rules? Or your account was close to dry already?
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
Risk management rules was the reason.
Just to add, the RSI is at 82 right now, we may have selling opportunity here.
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
Waiting for RSI to give selling signal. And once it does, I expect about 100 pips of profit…
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
Usd will become stronger un the near future because the cliff and debt ceil. The yen will be weaker because boj is going to cause inflation. So a good trade on usdjpy is a long one.
True, but I expect slight trend correction. I’m to nervous to open the long position again because, as I said, this pair is already critically overbought.
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
There is no such thing as overbought in Forex. Don’t believe indicators. They have lied to traders for decades.
I’m starting to think the same, and as I trade more, I’m more and more convinced that only price action and fundamentals work.
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.
That 80 pip drop in half an hour scared the **** out of me