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USD/JPY Discussion

  • #801
  • Jul 22, 2007 9:42pm Jul 22, 2007 9:42pm
Quoting Trader KGB
What's your average entry price and TP/timeframe? Another 50-pip swing or so?

I stick to the dailies primarily, the 200-day SMA at 119.73 looks like a magnet to me..
I'm looking for 121.40, but the way it's looking now, your 119.73 might be a better call.
Patience + Humility + Study = Success
  • #802
  • Jul 22, 2007 9:57pm Jul 22, 2007 9:57pm
Quoting DutchTrader
I'm looking for 121.40, but the way it's looking now, your 119.73 might be a better call.
There will be plenty of back & fill on the small scale, you could see those 30 pips from here by the time NY opens up. I wouldn't be surprised to see a full-retracement back to the uptrend @ 122 the way this thing moves.
  • #803
  • Jul 22, 2007 9:59pm Jul 22, 2007 9:59pm
I'm going to unload when it hit 121.50, as long i'm getting pips.

Still, we do not know how market will react when DOW opens.
  • #804
  • Jul 23, 2007 12:47am Jul 23, 2007 12:47am
previous low on the weekly chart 120.77 abreak below this level could get ugly todays low 120.77
  • #805
  • Jul 23, 2007 1:44am Jul 23, 2007 1:44am
120.95 is very crucial guys... Watch it out.
  • #806
  • Jul 23, 2007 1:48am Jul 23, 2007 1:48am
As long as the physiological 121.00 maintained... we will see upside towards 122.

PA suggest a bearish mode, but need to wait till DOW opens today.

Data on WED will suggest another DOLLAR bashing, above 2.06 for CABLE and 1.39 for EURO
  • #807
  • Jul 23, 2007 1:49am Jul 23, 2007 1:49am
Nice bounce of 15 pips.. BIG INVESTMENT bank is buying in BULK
  • #808
  • Jul 23, 2007 1:51am Jul 23, 2007 1:51am
USD/JPY

Daily Pivots: (S1) 120.62; (P) 121.52; (R1) 122.19; More
After some initially volatility, USD/JPY edges lower to 120.77 today and is now pressing mentioned 120.76 cluster support (38.2% retracement of 115.13 to 124.13 at 120.70). As discussed before, fall from 124.13 is still in progress and further decline is in favor as long as 122.40 resistance holds even in case of recovery.
On the upside, a strong rebound to above 122.40 is needed to indicate correction from 124.13 has completed. In such case, retest of 123.66 should be seen and break will suggest that recent rally from 108.99 has resumed.
In the bigger picture, rise from 115.13 has made a top at 124.13 and turned into consolidation since then. But still, rally from 108.99, which is treated as resumption of whole up trend from 101.66, is in progress. Even in case of a deeper correction, downside is expected to be contained by 118.35/57 cluster support zone (38.2% retracement of 108.99 to 124.13 at 118.35 and 61.8% retracement of 115.13 to 124.13 at 118.57) and bring rally resumption. Next medium term upside target will be resistance zone of 100% projection of 101.65 to 121.38 from 108.99 at 128.72 and 100% projection of 108.99 to 122.17 from 115.13 at 128.31. However, break of 118.35/57 cluster support argue that rise from 108.99 has possibly completed and put 115.13 low into focus.
  • #809
  • Jul 23, 2007 2:22am Jul 23, 2007 2:22am
Am short, looking to hit 120.80 again
  • #810
  • Jul 23, 2007 4:51am Jul 23, 2007 4:51am
best place is UJ now, i think


get 100 pip and cantinue
  • #811
  • Jul 23, 2007 4:57am Jul 23, 2007 4:57am
Long, short, long, short... I am confused . I think I am just gonna stay out, until it stabilizes.
.
  • #812
  • Jul 23, 2007 4:59am Jul 23, 2007 4:59am
Quoting bullrock
Long, short, long, short... I am confused . I think I am just gonna stay out, until it stabilizes.

yes

but now is short
  • #813
  • Jul 23, 2007 5:15am Jul 23, 2007 5:15am
Quoting persian.forex
yes

but now is short
I play carry trades, long-term, and shorting JU costs me too much... So I am always long if any. So I wait until I receive a signal...
.
  • #814
  • Jul 23, 2007 5:23am Jul 23, 2007 5:23am
Quoting bullrock
I play carry trades, long-term, and shorting JU costs me too much... So I am always long if any. So I wait until I receive a signal...
youre patient, and its a base of forex trade...

i hope success trade 4 u
  • #815
  • Jul 23, 2007 6:58am Jul 23, 2007 6:58am
Quoting bullrock
I play carry trades, long-term, and shorting JU costs me too much... So I am always long if any. So I wait until I receive a signal...
i'm long too
  • #816
  • Jul 23, 2007 7:00am Jul 23, 2007 7:00am
Short still the way to go
Patience + Humility + Study = Success
  • #817
  • Jul 23, 2007 7:07am Jul 23, 2007 7:07am
i will wait 121.20 to go long.
target 121.50 and than short.
  • #818
  • Jul 23, 2007 7:15am Jul 23, 2007 7:15am
long @ 121.25 aiming 121.50

Might close around 121.10 if goes south.
  • #819
  • Jul 23, 2007 7:29am Jul 23, 2007 7:29am
Quoting Alfa159
long @ 121.25 aiming 121.50

Might close around 121.10 if goes south.
I have gone long on Usd/JPy@ 120.95 made up to 60pips and by the i went bak to the market it was retracing so i got out with just 20pips.

Please, can you or someone else tell me how to exit in this business, because more often than not i used to get out of the market whenever it starts retracing to my entry level.

Also, i made up to 95pips on Gbp/JPY but has it retraced down more than 45 pips i got again and then the market went up again.

Exit is more problem any suggestion will be highly appreciated.

Thanks
  • #820
  • Jul 23, 2007 7:37am Jul 23, 2007 7:37am
Quoting maarf01
I have gone long on Usd/JPy@ 120.95 made up to 60pips and by the i went bak to the market it was retracing so i got out with just 20pips.

Please, can you or someone else tell me how to exit in this business, because more often than not i used to get out of the market whenever it starts retracing to my entry level.

Also, i made up to 95pips on Gbp/JPY but has it retraced down more than 45 pips i got again and then the market went up again.

Exit is more problem any suggestion will be highly appreciated.

Thanks
I personally suggest putting out good fib levels or supports and resistances.. They are my perfect places for exits.. Let say you are long at usdjpy... And u have 30 pips but the pair hit a resistance.. If you are not sure where the market might go, i prefer close your position. You can always come back in when the pair brakes in the resistance. And go long once more.

I know how you feel.. I used to have +50 pips when I first started and kept my positions but ended with -50 at the end... I remember those days.

Check my graphs for resistances, supports and fib levels if you want.
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