Another very bullish sign is that the 60 EMA has crossed above the 200 SMA for the first time in 2 months AND it is still ascending. We need price to confirm this now by rising above the 60 EMA (At 77.20 now). If that happens I will call it a trend ...

USD/JPY Discussion

It seems we are getting the bounce of the RSI trendline again after 6 hours of testin 76.80. It would be technically important to close above 77 today, not necessary, but it would be nice.

USD/JPY Discussion

It´s difficult to say how high we could go, but the base is strong. Since it started over month ago, my THV has given 8 Buy signals (Green arrows on the chart) for only one red arrow. The descent has been steep from June 2007 from 124 to 75.9, ...

USD/JPY Discussion

Yes. This is the 5th test of the bottom wall of the channel and the 12th test of the RSI trendline. I feel it is well established, BUT it must hold here if my 100+ theory is to remain viable.

USD/JPY Discussion

USDJPY Price Channel? — I think I may have identified the price channel that contains the price action of USDJPY. The only thing that bothers me about it is the bar of 8/25 where price pierced the top for a an hour or so. If this is the ...

USD/JPY Discussion

The RSI trendline is still intact making higher lows. The trend is still intact today. The trendline must break for USDJPY to turn bearish. This is a H4 chart.

USD/JPY Discussion

You are right there. For a long term trade to be viable, there has to be at least a 3 to 1 profit to risk potential. I prefer 5 to 1, but it depends on the time I expect to hold the position.

USD/JPY Discussion

OK. I´ll give you an example: I entered my 10 contracts EURUSD position at 1.4350 3 weeks ago. If I had set a tight stop loss on it I would have been stopped out not once, but up to 5 times (If I had repeatedly reentered the trade, which I would ...

USD/JPY Discussion

I think you two are comparing apples and oranges and you are both right. For a short term trade, 200 pips is too much drawdown, but for a buy and hold strategy, 200 pips is not out of the ordinary. You can make money both ways. I hold 10 contracts ...

USD/JPY Discussion

I agree with every one of his words. Maybe it will be this intervention the "reason" that will build the steep right side of the saucer on the H4 that I expect.

USD/JPY Discussion

So far so good. Price bounced off the RSI H4 ascending trendline right on time.

USD/JPY Discussion

Thanks. Trading is not too difficult. What is difficult is controlling your emotions or, should I say, not letting your emotions interfere with what you know has to be done. Any tool that helps you do that, goes a long way towards making you a more ...

USD/JPY Discussion

You are correct. Many roads lead to Rome. If there is one thing I´ve learned in this game is humility. There is no ONE right way. Heck, I have a friend trader who is very successful and doesn´t look at charts. He is all fundamentals and a great dose ...

USD/JPY Discussion

I don´t make my trading decision based on price levels. I listen to what my indicators tell me. Sometimes when in doubt I actually turn off the price bars. The picture is much clearer when you look at your favorite indicators alone. As a matter of ...

USD/JPY Discussion

Trend changes are always established on the RSI, MACD, THV. etc much before they show in price. If you wait for price to show trend, you will lose most profit potential. The big profits are made by betting before it shows in price, with a stop loss, ...

USD/JPY Discussion

Thank you friend. As you can see by the chart I posted, we are right on the trendline on the RSI H4. This is a crucial moment. I believe we bounce higher and this is a great long bet. If this breaks, all bets are off, but I feel confident right now.

USD/JPY Discussion

It´s not knowing things. It´s a simple opinion formed by over 30 years of technical analysis experience. I can be wrong like anyone can, but I have to go with what my charts tell me. They have been very good to me in the past.

USD/JPY Discussion

Here is the chart you requested. I believe we are constructing the right wall of a saucer formation. Breaking the top of the saucer at 81.60 will bring 100 into play in the next 12 months. If the rising tredline breaks on the H4 and the Daily, I ...

USD/JPY Discussion

The difference may be that you focus on 5M or 1H intraday. My focus is on the 4H where the trend is up as measured by the 60EMA which is rising and is about to cross the 200 EMA which is flattenning after descending for months. The RSI is still ...

USD/JPY Discussion

It will happen. This is just a normal correction and a great buying opportunity. I just added to my long.

USD/JPY Discussion