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USD/JPY Discussion

  • #521
  • Jul 10, 2007 6:13pm Jul 10, 2007 6:13pm
Quoting Vlad
SYDNEY!!!! HURRAAH!!! please please push push AUD/JPY up!!!! I am literally an inch from being cooked there!
lol. lol

someone is getting cooked!
100% of traders are losers. Just that some win more than they lose!
  • #522
  • Jul 10, 2007 6:19pm Jul 10, 2007 6:19pm
19:14 Strap on your seatbelt for tonight if you haven't already

http://www.sxc.hu/pic/m/s/su/sundstr...scary_ride.jpg
  • #523
  • Edited 6:38pm Jul 10, 2007 6:23pm | Edited 6:38pm
Hey fellas, I hope most of you have had a satisfactory day with the excellent short setup we had in UJ.

I'm 178 pips up and out, set up an order yesterday, the big give away was the Yen Sep7 Futures charts closing as wickid wickid wickid pin bar yesterday,
which was the final shoulder of the Inverse Head & Shoulders pattern which had developed during the last 40 days.
The setup was less appearant on the UJ chart, I could not make a decision based on that chart, only the widish break of a trendline would be my indication based on UJ chart today. Correction: UJ chart showed symmetrical triangle a little crooked but still fit criteria, but it seemed like it broke crazy the 'wrong' direction instead of bouncing off of a 3rd bottom. I didnt notice it before.

With the USD being very cloudy right now, any change in Yen strength would have a powerful effect on this pair it seems during the recent medium term. (correct me... please..)

There was no doubt, and still isnt that we are heading towards a rest stop (brief one) at 120 to me anyhows. Now planning to re-enter on retracement of current daily. (correct me... please..)


Merry trading.


Bob Blong
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  • #524
  • Jul 10, 2007 6:48pm Jul 10, 2007 6:48pm
4hr candle closing above 121.95 would be some big time pin-bar

13 min to go. Think it's crazy? hehehe...
  • #525
  • Jul 10, 2007 6:49pm Jul 10, 2007 6:49pm
Looking to re enter a short above 122
Patience + Humility + Study = Success
  • #526
  • Jul 10, 2007 7:06pm Jul 10, 2007 7:06pm
Quoting cesarnc
4hr candle closing above 121.95 would be some big time pin-bar

13 min to go. Think it's crazy? hehehe...
Looks like it's setting up for more down down down after the hefty retracement from this 4 hr bar no?
  • #527
  • Jul 10, 2007 7:09pm Jul 10, 2007 7:09pm
Quoting bobblong
Looks like it's setting up for more down down down after the hefty retracement from this 4 hr bar no?
Trading above the 23% of the day's hi-lo... A next test at it (121.57) or trade at 38% fib will tell what's next.
  • #528
  • Jul 10, 2007 7:13pm Jul 10, 2007 7:13pm
entry:121.05
sl:120.90
tp lock profit /open

anyone looking toward 122+

lock em up...


could we be lookin at yet another wave in developement.or what?
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #529
  • Jul 10, 2007 7:46pm Jul 10, 2007 7:46pm
Quoting got pips?
entry:121.05
sl:120.90
tp lock profit /open

anyone looking toward 122+
Not sure about 122+ yet. There's a S/R level at 121.80 that price is testing for the second time and struggling to get past.
  • #530
  • Jul 10, 2007 7:59pm Jul 10, 2007 7:59pm
Quoting thegunslinger
Not sure about 122+ yet. There's a S/R level at 121.80 that price is testing for the second time and struggling to get past.
it seems like we are lookin at the same thing i think we will beat that R level tonite...i dont see any reason why not...remember that 121 is a very good spot to reenter the trade again if we dont make it past that 80 level. lol

so we might see the first fight between the pair here ....lets see what happens right.....?
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #531
  • Jul 10, 2007 8:06pm Jul 10, 2007 8:06pm
Just went for a Short-term Short.
Out at the 72% retrace on the H1 charts. Its struggling at the 61.8, at the 121.80+ level.

... Small setup but.. risk is okay..
Chances favour the prepared.
  • #532
  • Jul 10, 2007 8:09pm Jul 10, 2007 8:09pm
I also just entered a short-term short @ 121.70 with a T/P of 121.35. This is based on the rejection off the S/R level at 80 plus a CCI setup I take.
  • #533
  • Jul 10, 2007 8:13pm Jul 10, 2007 8:13pm
I just made the biggest boo boo.. LOL
I short at 121,75...
but just got out at 121.65 JUST BECAUSE I TYPE my limit/stops wrongly.. SHIT! LOL

Quoting jasonowl
Just went for a Short-term Short.
Out at the 72% retrace on the H1 charts. Its struggling at the 61.8, at the 121.80+ level.

... Small setup but.. risk is okay..
Chances favour the prepared.
  • #534
  • Jul 10, 2007 9:10pm Jul 10, 2007 9:10pm
Well, I'm calling it a night. Looks like the UJ is going to consolidate while everyone figures out where to go next. I'll see what conditions there are when I wake up in 8 hours or so. I got out of my last trade at BE when it became apparent that the market direction was uncertain.
  • #535
  • Jul 10, 2007 10:58pm Jul 10, 2007 10:58pm
Arrgghh... I'm in for a SHORT again. 121.71
Gonna take short-term signals, but I'm seeing BIG volumes on my trading platform.

So for 15min and 1H are in favour of Short.. but we'll see I guess.
Chances favour the prepared.
  • #536
  • Jul 10, 2007 11:23pm Jul 10, 2007 11:23pm
Quoting jasonowl
Arrgghh... I'm in for a SHORT again. 121.71
Gonna take short-term signals, but I'm seeing BIG volumes on my trading platform.

So for 15min and 1H are in favour of Short.. but we'll see I guess.

hey buddy take it easy .....you are trading too much....calm down and wait for a good move to jump in ...right now if we lock below 121.60 we most likely will see the pair head lower towar that 121.25 or 121.00.....if we hold here we will see the pair develope upward movement breaking the 80level will determine if the move is for real.....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #537
  • Jul 10, 2007 11:26pm Jul 10, 2007 11:26pm
Tomorrow is interest rate announcement...if interest rate stays the same, what is the "expected" response? also, it seems like the Japanese keep saying the yen will grow strong (which is against the carry trade). If he says it will be strong, then it should drop even more...hmm...hmm...
  • #538
  • Jul 10, 2007 11:53pm Jul 10, 2007 11:53pm
Yes yes. Tks... I'm indeed getting to "carried" away. Damn lunch time. Ciao
Chances favour the prepared.
  • #539
  • Jul 11, 2007 12:43am Jul 11, 2007 12:43am
OH.. back from Lunch.
Out at 121.35 - near 61.8 Fib on H1 Retrace.
Not gonna rush in this time... promise...

Cheers dude.

Quoting got pips?



hey buddy take it easy .....you are trading too much....calm down and wait for a good move to jump in ...right now if we lock below 121.60 we most likely will see the pair head lower towar that 121.25 or 121.00.....if we hold here we will see the pair develope upward movement breaking the 80level will determine if the move is for real.....
Chances favour the prepared.
  • #540
  • Jul 11, 2007 12:52am Jul 11, 2007 12:52am
Ok Ok I'm not gonna beat myself up for not holding on to the trade... Had to set something for lunch... too bad it got stopped out.

Well on the bright side, at least it was a profitable trade.
Chances favour the prepared.
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