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USD/JPY Discussion

  • #661
  • Jul 17, 2007 7:41pm Jul 17, 2007 7:41pm
Who is LONG UJ today?
  • #662
  • Jul 17, 2007 7:44pm Jul 17, 2007 7:44pm
Quoting soros_junior
i don't trade UJ but looking at the state of USD, UJ will remain bearish for a very long long long time...
you probably know something i don't.

my discipline doesn't allow me to look that far.
i only go for on avg 500+ pips. give or take. on any currency pair.

eurgbp an exception. among others.
BAM BAM BOOM! -bravado
  • #663
  • Jul 17, 2007 7:47pm Jul 17, 2007 7:47pm
Quoting zamans98
Who is LONG UJ today?
I have a long position open, have had it for a while, since 6-15 or so.
  • #664
  • Jul 17, 2007 7:50pm Jul 17, 2007 7:50pm
UJ's price is making lower highs/lows while my CCI indicator is doing the opposite - making higher highs/lows. Clear divergence setup to the short side and an indication that this correction wasn't very strong, should it trigger on the trendline break of the lower channel boundary (of the CCI that is). Price is also bouncing nicely away from the 34EMA.
Attached Image (click to enlarge)
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  • #665
  • Jul 17, 2007 7:57pm Jul 17, 2007 7:57pm
Quoting thegunslinger
UJ's price is making lower highs/lows while my CCI indicator is doing the opposite - making higher highs/lows. Clear divergence setup to the short side and an indication that this correction wasn't very strong, should it trigger on the trendline break of the lower channel boundary (of the CCI that is). Price is also bouncing nicely away from the 34EMA.
cci trader?

keep it comming. i never met a discipline i didn't like. elliot waves, divergences, cross overs, channels, break outs, triangles, tunnels, naked, diamonds, fibs, long term, short term, scalpers, trend followers, swing traders, speculators.

they are all good.
BAM BAM BOOM! -bravado
  • #666
  • Jul 17, 2007 7:58pm Jul 17, 2007 7:58pm
gun,

how to read your chart?

SHORT or LONG?
Term : Now, Medium or LONG?
  • #667
  • Jul 17, 2007 8:17pm Jul 17, 2007 8:17pm
Quoting zamans98
gun,

how to read your chart?

SHORT or LONG?
Term : Now, Medium or LONG?
It's saying to go short and in terms of using the CCI, I guess you would classify it as 'now' (although the trend right now I say is short for at least the mid-term based on price action). If you don't know the CCI, it's basically a momentum indicator similar to the MACD or RSI. There's plenty of info out on the internet in regards to CCI trading patterns. If you Google Woodie's CCI Club, they're basically all written down there. Just don't get into the whole cult like thing that goes on there, it's pretty stupid that he preaches not to pay attention to price action at all.
  • #668
  • Jul 17, 2007 8:22pm Jul 17, 2007 8:22pm
Have been on the sidelines for a while since last Fri.
Going in for a Short. First trade of the week... can't believe it myself...
Chances favour the prepared.
  • #669
  • Jul 17, 2007 8:31pm Jul 17, 2007 8:31pm
Quoting thegunslinger
It's saying to go short and in terms of using the CCI, I guess you would classify it as 'now' (although the trend right now I say is short for at least the mid-term based on price action). If you don't know the CCI, it's basically a momentum indicator similar to the MACD or RSI. There's plenty of info out on the internet in regards to CCI trading patterns. If you Google Woodie's CCI Club, they're basically all written down there. Just don't get into the whole cult like thing that goes on there, it's pretty stupid that he preaches not to pay attention to price action at all.
okay, well said.

I've re-adjusted my LONG from 121.90 earlier to LONG @ 121.50.
Another few all along the line, 120.95, 121.15, 121.25, 121.40

CARRY TRADE is not OVER YET
  • #670
  • Jul 17, 2007 11:31pm Jul 17, 2007 11:31pm
down baby down.
BAM BAM BOOM! -bravado
  • #671
  • Jul 18, 2007 1:26am Jul 18, 2007 1:26am
Ive added another long @ 121.75. Will add more, if it continues to go down...
  • #672
  • Jul 18, 2007 1:29am Jul 18, 2007 1:29am
Quoting Sidus
Ive added another long @ 121.75. Will add more, if it continues to go down...
If it continues to go down???
"Only when the tide goes out will we know who is swimming naked."
  • #673
  • Jul 18, 2007 1:37am Jul 18, 2007 1:37am
Quoting pipped oFF
If it continues to go down???
exactly!
  • #674
  • Jul 18, 2007 1:57am Jul 18, 2007 1:57am
going fishing again?
"Only when the tide goes out will we know who is swimming naked."
  • #675
  • Jul 18, 2007 2:33am Jul 18, 2007 2:33am
Quoting pipped oFF
going fishing again?
Gone fishing already,...
Long at 121.65 s/l 121.50,...
Bounce baby bounce,...
  • #676
  • Jul 18, 2007 3:09am Jul 18, 2007 3:09am
this is a range market lately, no?
  • #677
  • Jul 18, 2007 3:32am Jul 18, 2007 3:32am
Quoting Gwan
this is a range market lately, no?
yes, it is , range 121.60-122.40
  • #678
  • Jul 18, 2007 3:53am Jul 18, 2007 3:53am
Closed the last short for a small profit.
Just went in to Short again at 122.08 this time.
Let's see what happens...

Quoting jasonowl
Have been on the sidelines for a while since last Fri.
Going in for a Short. First trade of the week... can't believe it myself...
Chances favour the prepared.
  • #679
  • Jul 18, 2007 3:54am Jul 18, 2007 3:54am
USD/JPY is in down trend now and trading at 121.85. maybe faiiling 120.60 My recomendations - sell. But in long-term persective the pair will be rising till 123.85
  • #680
  • Jul 18, 2007 8:58am Jul 18, 2007 8:58am
Wrong move. Got out at with 1 pip gain to cover comms.
Standing by for re-entry. This time it looks more like a S/Term Long for the 122.45/60 area to test the resistance!

Quoting jasonowl
Closed the last short for a small profit.
Just went in to Short again at 122.08 this time.
Let's see what happens...
Chances favour the prepared.
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