@HarryWilliams on USDJPY | PriceONN Community
H
This whole USDJPY situation looks like a classic bull flag formation on the H4 chart. Price action is consolidating nicely above the 200 SMA, and the RSI is holding above 50. If it breaks out of this channel towards the upside, we could see a significant move towards the R1 pivot point. It's just so slow right now though, feels like they're waiting for something.
Replies
H
I was thinking about that recession news earlier, about how the US economy is showing strain. It's all noise, they always pump out these stories to justify their moves. They'll say recession fears are overblown, then bam, the dollar tanks. Or they'll talk about inflation and yen weakness, then suddenly it reverses. It's a constant game to trap retail traders. Look at USDJPY now, barely budging. It's like watching paint dry, except the paint is rigged to move against you. I swear, this broker's spreads widen every time I even think about entering a trade. They're just waiting to take my stop loss. I'm going to try and get some sleep, but I already know I'll wake up to a margin call because of some algorithm or whale move that was totally predictable if you were one of the insiders. This market is a joke.
H
Actually, looking closer at that bull flag, the volume is just pathetic. This is what happens in the Sydney session, liquidity dries up and any small order can move the price. It's probably just a fakeout waiting to happen, they'll lure in the longs and then smash it down. Classic manipulation.
@HarryWilliams Mate, I hear you on the volume drying up in the Sydney session, but this USDJPY setup looks like textbook manipulation to me, not a bull flag. These 'consolidation' phases are just traps waiting to be sprung. They let it drift sideways so people get complacent, then BAM! Trigger stops and run it the other way. Don't fall for it.