USDJPY set up ideas and trades

expiated said:
USDJPY became a "sell" for me six hours ago when if fell below 143.46, the general level or region it was "playing with" yesterday. Before that/then, I was neutral.
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My exit level for this position was approximately -85 pips below @ 142.61.
 
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Price reacted to the 50% of the larger FVG you marked out. Personally I wouldn't have been trying to buy this pair when it is at such premium pricing
 
SunTrader said:
So your stop loss, if you were wrong, was greater than 0.979 pips huh?
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What are you talking about? It's my understanding that a pip with respect to USDJPY = 0.01. So, what is 0.979 pips? Obviously, you don't mean 0.00979. Are you asking me if I set my stop loss to 97.9 pips, meaning at 143.46 + 0.98 = 144.44? If so, the answer is no. Why would I do that? Generally speaking, once a rate turns against me by 35 pips, I consider it almost guaranteed that I was wrong in my analysis and that the situation is not going to somehow resolve itself in my favor, so I normally set my stop losses at 35 pips or less.
 
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expiated said:
What are you talking about? It's my understanding that a pip with respect to USDJPY = 0.01. So, what is 0.979 pips? Obviously, you don't mean 0.00979. Are you asking me if I set my stop loss to 979 pips, meaning at 143.46 + 0.98 = 144.44? If so, the answer is no. Why would I do that? Generally speaking, once a rate turns against me by 35 pips, I consider it almost guaranteed that I was wrong in my analysis and that the situation is not going to somehow resolve itself in my favor, so I normally set my stop losses at 35 pips or less.
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TradeStation and many other brokers plot 3 digits to the right of decimal point but either way 2 or 3 yes I did mean have a stop at 144.44 .... since price went that far after you supposedly went short. What are you talking about now? Can't get from A to C without first passing B.
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SunTrader said:
I see. So you posted both your entry and exit after the fact.
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No, I posted the exit at the time it was triggered. However, I did post the entry after the fact. As I recently commented in another thread, this is the only journal that is not my own where I am still typing comments. But, I am about to stop doing so, which is why I didn't indicate that I was neutral USDJPY in response to Pezza's Post #96.

I find it interesting to compare notes with members such as Pezza. On the other hand, I find it tiresome to respond to the kind of posts you and others contribute. I have no problem calling my shots ahead of time when people leave me alone, as I used to do with padutrader a long time ago, except that he got ticked off when I would turn out to be right and told me to go start my own journal.

There is really no reason for me to do this if it simply becomes a source of irritation, and thanks to you, it has now reached that threshold. So, this is the last I will be commenting in or looking at this thread. You can respond however you like. But, I personally have nothing else I will say.
 
nitrene said:
TA is still a good guide nonetheless. My experience from using RSI is that it does work with the exception in a true breakout it becomes less useful. This is the rare event of a breakout in a currency I guess.

Back in March the RSI was >90 but it still kept going higher so that should have been a clue something was afoot.
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You ever use these?
RSI Divergence Failure Swing
https://www.dogpile.com/serp?q=RSI+Divergence+Failure+Swing
 
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Nothing else to say at least means no more after the fact "trade" posts. And no you did not post exit at the time it triggered.

How could you have? When you posted this yesterday morning @ 8:07am ET and price had already touched that price 8 hours earlier @ 12:15am ET :confused:

"My exit level for this position was approximately -85 pips below @ 142.61."

But don't worry newbs will still "like" your posts. Run along.
 
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