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GBP/JPY Short Trade EXplained

"The market can stay irrational longer than you can stay solvent" and this aphorism is more true than ever if you look at GBP/JPY. Since mid April this market has gone in straight line for 10 consecutive weeks posting the longest weekly green run since 1995. We didn't had 10 green weekly candle since 1995 when the yen hit a peak of under 80 yen per dollar. Taking in consideration this long stretch and the fact that this pair looked extreme overbought I was expecting to see some retracement a…
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Trades Recap

Since it's weekend I thought I have some more time to speak about the trades taken in the first week of the year. During this time period I have been focusing more my attention on the yen pairs as based on my analysis they should have entered in some type of correction mode, you can find more about my analysis on the YEN here: USD/JPY Elliott Wave Cycle Completed
Apart from that I took two small intraday position on USD/CAD and USD/SGD. The reason why this where not swing positions was because t…
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P3tr4 avatar
P3tr4 10 Sty

good luck, quality over quantity

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Nikkei 225 Will Revive Yen Bearish Trend?

The Japanese stock market index Nikkei 225 is signaling that we may be on the verge of resuming current bullish trend (see Figure 1)and this may revive the Yen bearish trend.
If you're trading only the Forex Exchange market don't make the mistake of not watching others market for more clues, like the equity market or the Credit market which are having a big impact on forex exchange fluctuations. The world is much more complex and everything is interconnected so that's the reason why we'll have a…
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Neu_spir8 avatar

Good morning pal, nice analysis, the pair on a solid Daily & Weekly Gann angle support  at the time being, we had a weekly close above it suggesting a test to weekly Resistance at least to 103.40-60, Fibo expansion 61.8% if not 104.30 100%, today, we should see a 4H candle close above 102.70 to make it true, all the best.

Daytrader21 avatar

Neu_spir8 As long as we stay above 102 current up swing leg is intact. Thanks for your insights.

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Yen Pairs On The Move

The big risk event from recent session was BOJ rate decision, but it only was of big importance because market participants assumed that the BOJ would follow up with an upgrade of his stimulus program. The BOJ did nothing however the yen pairs were sold of in a strong fashion way but this only happened during the NY session.
Figure 1. USD/JPY Daily Chart

What we saw with the yen movements was not a general risk aversion theme because the S&P500 and also the US dollar were not confirming this mo…
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independeceday32 avatar

No probem daytrader21, I think this armike speaking respectfully defending his opinion. Clearly not, stop hunting define the whole movement in the yen yesterday, and I think the same way that daytrader21 about this topic.Armike I think it is clear that in forex, even OTC, there are manipulations, a week ago came the news that the FBI was investigating big banks operating in forex, because their employees by messages through the Bloomberg or Reuters terminals, agreed positions market. This makes clear that there are manipulations in forex, but I think due to lower volume than other market.

independeceday32 avatar

sorry, I wrote the name wrong .... Airmike.!!

Airmike avatar
Airmike 9 Kwi

Sorry guys,I think is onlz misunderstanding. My opinion is a bit damaged by professional deformation :). It is very hard to explain, when we are talking about different stuff. for example Market - Forex. Manipulation - SLH. I am talking about Forex and SLH and probability to see something like this by small investor eyes on daily basis. My opinion is that is no chance to see or prove any SLH technique just by the screening a chart. that's impossible. 99% of breakout spike are definitely not SLH, and movements about 100 points are not at all. Thats my opinion :)

independeceday32 avatar

I agree with you Airmike, it is impossible for a movement of 100 points, is to SLH, and previously I did not mean that the whole movement yesterday the USD / JPY was due to SLH, it is impossible, I just used a colloquial talking.

Daytrader21 avatar

Mike, I say the same let's just not get lost into the semantics and lose sight of the things that really matter.

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