I am out and done, as long as the YEN strong (seems to be bottoming) out of thee EUR/JPY
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I'm still buying the dips into the elections. LDP firmly in the lead. Market could be pricing in Abe winning & the fact that he will aggressively ease till inflation is 1%.
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Joined Dec 2012
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Status: Junior Member
|2 Posts
when the price reaches 107.93 on 4th Dec., I spot a RSI divergence (indicating a possible trend reversal) and a couple of inside bars.
For this i anticipate price would goes down till 104.10. I sold it.
It seems like it is going down yet the buyers are still attempting to prevent it from going down significant
Traded US/JPY quiet a bit,just fast in an out,to top up the account when I screwed up other trades.
Some times you get trapped in the other charts,can't move because you have to wait for trades to fall into profit.
So I started trading EUR/JPY every trade a winner,cool I am the MAN
Well F????K it went up nearly 8 cents against me,closed shorts.
Caught longs which fixed big bulls up.
Its hovering around this level. 106,500 been to 106,150
I have 2 small shorts,an 5 longs.
Thinking if EUR/US drops then this will pair...
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Doubling your account on a 400 pip move sounds like entirely to much leverage. I trade longer term & look for bigger moves but I also use wider stops you need to give trades breathing room when your looking for larger moves.
Possible but it would have to gain momendum first before more downwards movement. Meaning, I think a little more north movement before going that far
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My indicators MA & EMA would suggest the same resistance around 104.20. It looks to be cresting to a downtrend trend. It could go north but it seems more to be waffling at the top. I have short positions but once it becomes a downtrend, I'll switch from my daily chart to my 1h & 2h charts for positions.
My indicators MA & EMA would suggest the same resistance around 104.20. It looks to be cresting to a downtrend trend. It could go north but it seems more to be waffling at the top. I have short positions but once it becomes a downtrend, I'll switch from my daily chart to my 1h & 2h charts for positions.
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Can we expect a trend reversal towards south to 102?
Can we expect a trend reversal towards south to 102?
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Since '08 it's been an overall downtrend. When it got 100 range I thought for sure it was going to test the 94.xx area again. It didn't but went to 108 so what do I know. Any way it should do its usual waffling before it goes down again. I wouldn't know how to interpret an uptrend at this juncture. Short term I see it going to from here to 104 range. If it continues to go down, it will probably try to test the 94.xx area and either go back up or have a significant drop because that would be outside the 3 year 'flag'. Concerning patterns, I would hope it would go back up, and of course there would be a natural pressure of equilibrium to go back up. If you pull up a weekly or monthly chart you will see the down trend.
I am also holding shorts, but i expect the price will go down to around 104.39...... what do you think?
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Doesn't seem likes there any real sellers in any of these yen crosses, all the recent down moves feel like profit taking not smart money building short positions which is what you need to bring this pair down.
Doesn't seem likes there any real sellers in any of these yen crosses, all the recent down moves feel like profit taking not smart money building short positions which is what you need to bring this pair down.
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Any move in the currency market are with the banks. Retail currency does nothing. When the banks aren't moving currency, the market consolidates to nothing. So we wait till a central bank opens... yawn.
Any move in the currency market are with the banks. Retail currency does nothing. When the banks aren't moving currency, the market consolidates to nothing. So we wait till a central bank opens... yawn.
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Central banks as well as large investment banks & hedge funds move the markets, they've all been open since yesterday. The PA in these yen crosses has been very similar for the last 2 weeks or so there's no real establishing of short positions by smart money. A lot of this is probably due to elections around the corner & fiscal cliff still looming.
Central banks as well as large investment banks & hedge funds move the markets, they've all been open since yesterday. The PA in these yen crosses has been very similar for the last 2 weeks or so there's no real establishing of short positions by smart money. A lot of this is probably due to elections around the corner & fiscal cliff still looming.
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You're right--the big boys. Anyway I positioned at 105.60. My EMA and LR are about to crossover so hoping for a downtrend. The confirmation for me is when it breaks below 106.xx but it could be waffling for a few days. We'll see.
Joined Nov 2010
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Status: To pip or not to pip...
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Positioning at 106.60 was a little bit rolling the dice this early but with a 20 pip stop, it was like a test position. If I stopped out, I would wait it out for another position and let the indicators define themselves up or down. At ~20 pips forward, I'll set the stop at zero for safety. If it goes 100 pips forward, I'll reset the stop at +40 pips and walk away from the computer. Not out of the woods by a long shot...
Positioning at 106.60 was a little bit rolling the dice this early but with a 20 pip stop, it was like a test position. If I stopped out, I would wait it out for another position and let the indicators define themselves up or down. At ~20 pips forward, I'll set the stop at zero for safety. If it goes 100 pips forward, I'll reset the stop at +40 pips and walk away from the computer. Not out of the woods by a long shot...
It is. That's why I call it a test pip. I got stopped out but the M4 pivot show 106.96 and the 38.2 Fib ratio shows 106.92 so will hang tough and see if it goes that direction. The graph shows that we are in consolidation and it's slow so will wait it out for direction. If I was on the top end of the BB, I would have had 40 or 100 pip stop depending. The daily chart shows the PA is right smack dab in the middle so it is a gamble to position. That's why I made it tight...
