DislikedGot in long at 124.00 last night and let it ride once London opened closed at 124.48 a few hours before US opened. Looking for another good time to go long again... Any suggested prices?Ignored
- #57,142
- Jun 3, 2015 10:07am Jun 3, 2015 10:07am
- Joined Sep 2013 | Status: boreddddd | 3,137 Posts
Seems like any time is a good time to long 
- #57,144
- Jun 3, 2015 10:22am Jun 3, 2015 10:22am
Seems like any time is a good time to long
Could be...
I'm already committed with trades tho, but in this case it's clear that all negative news for the dollar are going to get muted and all positive news will be exaggerated. Next two days are both big dollar news days... Maybe dip a finger now and add as situation unfolds. My hunch is that it will touch 124.0 at least one more time before takeoff. In a worst case scenario for the dollar I doubt it'll drop below 123 but what the hell do I know? Nothing is certain in this business.
"Tips are for waiters." - Reminiscences of a stock operator
- #57,145
- Jun 3, 2015 2:47pm Jun 3, 2015 2:47pm
- Joined Dec 2013 | Status: Trader | 1,513 Posts
Be humble or be humbled.
- #57,146
- Jun 3, 2015 2:58pm Jun 3, 2015 2:58pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Elliott Wave for optimum entry, exit and risk management of trades
- #57,149
- Edited Jun 4, 2015 2:03am Jun 3, 2015 5:08pm | Edited Jun 4, 2015 2:03am
- Joined Sep 2014 | Status: Trader | 4,176 Posts
Opening Remarks at the 2015 BOJ-IMES Conference
Hosted by the Institute for Monetary and Economic Studies,Bank of Japan
http://www.boj.or.jp/en/announcement...ko150604a.htm/
******
JPY Foreign Bonds Buying (Yen)(29MAY)=-348.4B
May 27, 2015(22MAY)=911.8B
May 20, 2015(15MAY)=1,099.2B
http://www.forexlive.com/EconomicCalendar
for the meaning of the bracket dates
http://www.dailyfx.com/calendar?tz=8...=true&low=true
The exercise day uses EST (not JST).
USD/JPY seems to be go down FURTHER (YEN go up or sine wave cycle starts).
The Japan PM Abe retreats some money for tomorrow, setting a base of USD/JPY on 29May2015 for sine-wave.
retreat from other countries' bonds/funds in order to bring money back to japan,
which make YEN stronger before the operation on the tomorrow loans usages.
******
******
Hosted by the Institute for Monetary and Economic Studies,Bank of Japan
http://www.boj.or.jp/en/announcement...ko150604a.htm/
******
JPY Foreign Bonds Buying (Yen)(29MAY)=-348.4B
May 27, 2015(22MAY)=911.8B
May 20, 2015(15MAY)=1,099.2B
http://www.forexlive.com/EconomicCalendar
for the meaning of the bracket dates
http://www.dailyfx.com/calendar?tz=8...=true&low=true
The exercise day uses EST (not JST).
USD/JPY seems to be go down FURTHER (YEN go up or sine wave cycle starts).
The Japan PM Abe retreats some money for tomorrow, setting a base of USD/JPY on 29May2015 for sine-wave.
retreat from other countries' bonds/funds in order to bring money back to japan,
which make YEN stronger before the operation on the tomorrow loans usages.
******
******
- #57,150
- Jun 3, 2015 5:29pm Jun 3, 2015 5:29pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,361 Posts
- #57,154
- Jun 3, 2015 11:53pm Jun 3, 2015 11:53pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #57,155
- Edited Jun 4, 2015 12:16am Jun 3, 2015 11:58pm | Edited Jun 4, 2015 12:16am
{quote} Title is misleading Its been Excessive Yen weakness not strength! Based on price action probably meant BOJ will support Yen now instead of dumping it. Lots of big money behind selling off the Yen and its not going to be easy turning this beast around. Unless NFP comes out negative I don't see much of drop.
The USD/JPY pair snapped gains and fell in red after BOJ Harada’s comments on the exchange rate, stating that ‘excessive yen strength has been corrected ‘while also noting that BOJ might fail to hit 2% inflation by h1 of 2016.
That means they'll stop weakening it actively and let the market take its course.. So, no more artificial pushing up this pair. Now we're back in standard market supply-demand game.
/edit: on the other hand, he would say that if boj realized that too many traders have jumped on the wagon and are now feeding off boj's UJ protection... maybe they are willing to let the market clean up the hangers-on for a bit and then quietly resume dumping Y... Japan's economy is desperate for exports and inflation and yen is still not weak enough to kickstart it.
"Tips are for waiters." - Reminiscences of a stock operator
- #57,156
- Jun 4, 2015 12:08am Jun 4, 2015 12:08am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Nope, {quote} That means they'll stop weakening it actively and let the market take its course.. So, no more artificial pushing up this pair. Now we're back in standard market supply-demand game.
Thanks for clarifying.
In trading, you have to be defensive and aggressive at the same time
- #57,159
- Jun 4, 2015 1:20am Jun 4, 2015 1:20am
- Joined Feb 2012 | Status: Trader | 5,619 Posts
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
