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USD/JPY Discussion

  • #941
  • Jul 26, 2007 9:16am Jul 26, 2007 9:16am
$brava$do$. $cha-cha$$-cha!$
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BAM BAM BOOM! -bravado
  • #942
  • Jul 26, 2007 9:25am Jul 26, 2007 9:25am
Is it safe to come out and go long again? All the anticipated bad news is over isn't it?
  • #943
  • Jul 26, 2007 9:30am Jul 26, 2007 9:30am
Quoting MERCCLASS
Is it safe to come out and go long again? All the anticipated bad news is over isn't it?
what do you think.
BAM BAM BOOM! -bravado
  • #944
  • Jul 26, 2007 9:35am Jul 26, 2007 9:35am
Quoting bravado
what do you think.
Patience + Humility + Study = Success
  • #945
  • Jul 26, 2007 9:39am Jul 26, 2007 9:39am
Quoting bravado
what do you think.
I think there are more sellers than buyers... So if you buy there will be more buyers, that reduces the sellers... Well if you turn the balance eventually will the price go up....
.
  • #946
  • Jul 26, 2007 9:46am Jul 26, 2007 9:46am
Quoting bravado
what do you think.
I think I can catch a retrace and make a few pips. I'll give it a try and let you know how it works out how's that?
  • #947
  • Jul 26, 2007 9:51am Jul 26, 2007 9:51am
Quoting MERCCLASS
Is it safe to come out and go long again? All the anticipated bad news is over isn't it?
The selling doesn't appear to have reached a capitulation point yet. A LOT of technical & fundamental damage was done today. It's quite risky to bottom feed, even for a scalp, it's having a very difficult time finding a floor. Looks like it's trying to form a base at 119.30, but that level keeps giving way.
  • #948
  • Jul 26, 2007 9:57am Jul 26, 2007 9:57am
Quoting Trader KGB
The selling doesn't appear to have reached a capitulation point yet. A LOT of technical & fundamental damage was done today. It's quite risky to bottom feed, even for a scalp, it's having a very difficult time finding a floor. Looks like it's trying to form a base at 119.30, but that level keeps giving way.
I have a trendline around 118.50... Maybe the bottom is there.. If not god and the market knows where is the bottom... If that is broken how about 115.50???
.
  • #949
  • Jul 26, 2007 10:01am Jul 26, 2007 10:01am
Quoting bullrock
I have a trendline around 118.50... Maybe the bottom is there.. If not god and the market knows where is the bottom... If that is broken how about 115.50???
116 actually
Patience + Humility + Study = Success
  • #950
  • Jul 26, 2007 10:02am Jul 26, 2007 10:02am
Quoting DutchTrader
116 actually
Yep... I was just drawing quickly...
.
  • #951
  • Jul 26, 2007 10:04am Jul 26, 2007 10:04am
Quoting bullrock
Yep... I was just drawing quickly...
Yep, this is what we call a "Chart Breakdown"
Patience + Humility + Study = Success
  • #952
  • Jul 26, 2007 10:08am Jul 26, 2007 10:08am
Quoting bullrock
I have a trendline around 118.50... Maybe the bottom is there.. If not god and the market knows where is the bottom... If that is broken how about 115.50???
Yes, I have both of those same trendlines and levels of potential support. If this is the "great unwind", then both are fair game.

I think most of the pressure is coming from N/J after the RBNZ rate hike. 2.2% is huge move off that carry pair. G/J is in second, off some measly 314 pips on the day, E/Y in third. USD/J shooting for another new low, 119.14.

$77 oil, wow what a day.
  • #953
  • Jul 26, 2007 10:10am Jul 26, 2007 10:10am
Quoting Trader KGB
Yes, I have both of those same trendlines and levels of potential support. If this is the "great unwind", then both are fair game.

I think most of the pressure is coming from N/J after the RBNZ rate hike. 2.2% is huge move off that carry pair. G/J is in second, off some measly 314 pips on the day, E/Y in third. USD/J shooting for another new low, 119.14.

$77 oil, wow what a day.
Don't forget about A/J
Patience + Humility + Study = Success
  • #954
  • Jul 26, 2007 10:17am Jul 26, 2007 10:17am
Quoting DutchTrader
Don't forget about A/J
Right. CAD/J for that matter too. Feb 28th all over again..
  • #955
  • Jul 26, 2007 10:22am Jul 26, 2007 10:22am
Quoting Trader KGB
Right. CAD/J for that matter too. Feb 28th all over again..
Yep, just fantastic long levels
Patience + Humility + Study = Success
  • #956
  • Jul 26, 2007 10:27am Jul 26, 2007 10:27am
hehe i missed all the signals coz of stupid WORK
  • #957
  • Jul 26, 2007 10:29am Jul 26, 2007 10:29am
I'm @whether the bad news is over yet
Patience + Humility + Study = Success
  • #958
  • Jul 26, 2007 10:37am Jul 26, 2007 10:37am
Quoting DutchTrader
I'm @whether the bad news is over yet
I take it you're no longer in A/J still right?
  • #959
  • Jul 26, 2007 10:42am Jul 26, 2007 10:42am
Quoting Trader KGB
I take it you're no longer in A/J still right?
Nope stopped out and looking to enter another short at a better level. I'm eyeing a short U/J entry above 119 as stops below have been tripped and I believe a 116ish test is near.
Patience + Humility + Study = Success
  • #960
  • Jul 26, 2007 10:45am Jul 26, 2007 10:45am
Quoting DutchTrader
Nope stopped out and looking to enter another short at a better level. I'm eyeing a short U/J entry above 119 as stops below have been tripped and I believe a 116ish test is near.
Yes I was tempted to place a buy limit at 118.99, it seemed rather predictable that the market was headed there to take the stops, but a quick scalp is not worth the risk today. What's your target timeframe on 116?
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