JPY - The Yens

[Minsk]

waiting for banana signal. 
there is the level at ATH, need to look if there is enough room for R:R between entry and ATH level maybe? 

[Minsk]

small seed of 15 pips there now
but level to the left does not give enough room to put a PO in.
SL to BE would be above that level. I want to see a break of the level first.
I might be missing this move, but I am in GBP-USD, so 1 trade at the time as in trading plan

[immy]

small seed of 15 pips there now
but level to the left does not give enough room to put a PO in.
SL to BE would be above that level. I want to see a break of the level first.
I might be missing this move, but I am in GBP-USD, so 1 trade at the time as in trading plan

 

that was something I was waiting for ... 

[Minsk]

small seed of 15 pips there now
but level to the left does not give enough room to put a PO in.
SL to BE would be above that level. I want to see a break of the level first.
I might be missing this move, but I am in GBP-USD, so 1 trade at the time as in trading plan


 

that was something I was waiting for ... 

 

@Immy you have a great trade running there.

I am looking at both USD-JPY and GBP-USD.
The USD-JPY goes up nicely. GBP-USD does not move nicely down at all.
Did I make a mistake not taking this UJ trade? Should I have waited for this and put a PO on the "break the level" price , not wanting a banana signal after the break of the level?
 

[immy]

small seed of 15 pips there now
but level to the left does not give enough room to put a PO in.
SL to BE would be above that level. I want to see a break of the level first.
I might be missing this move, but I am in GBP-USD, so 1 trade at the time as in trading plan




 

that was something I was waiting for ... 



 

@Immy you have a great trade running there.

I am looking at both USD-JPY and GBP-USD.
The USD-JPY goes up nicely. GBP-USD does not move nicely down at all.
Did I make a mistake not taking this UJ trade? Should I have waited for this and put a PO on the "break the level" price , not wanting a banana signal after the break of the level?
 


 

Keep doing what you're doing. You're learning good stuff. 

The USDJPY was a break and retest, the level to the left was of NO CONCERN to me, (the one that you identified - too far in the past). The daily up trend is resuming, levels don't matter. Levels matter when its a TR or a micro TR on d1. 

ps: Definition of a Support or Resistance = At least 2 touches = confirmed support or resistance. If there is only one level that is potential support, not yet confirmed. 
 

[immy]

USDJPY 
 

[immy]

USDJPY 
 



 

 
 
 

[immy]

It looks like the dollar-yen consolidation at the all-time highs is going to continue a bit further ... 
We might see some trading range activity but I don't trade inside trading ranges so I'm not HOT on UJ. 

 

[immy]

It looks like the dollar-yen consolidation at the all-time highs is going to continue a bit further ... 
We might see some trading range activity but I don't trade inside trading ranges so I'm not HOT on UJ. 

 


 

It looks like the longs on the USD/JPY (dollar-yen) have continued... as per the forecast.
The pullback this morning was good but it was a double-legged pullback which I did not take it. Plus I was at the gym. 

I had then setup a limit buy on the seed but it seems to have run away without touching it. 

ps: minsk, look for the HOT pair on the "month" and Hot pair (especially) on the day. The EU and GU were sideways, The UJ was HOT... 

[immy]

It is the 3rd Pullback 

How?