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USD/JPY Discussion

  • #1,701
  • Aug 3, 2007 7:44am Aug 3, 2007 7:44am
a strange thing with this NFP no?
  • #1,702
  • Aug 3, 2007 7:52am Aug 3, 2007 7:52am
Ok... got in a Short at 119.23 @ about 1hr before NFP.
TP Limit at 119... (ended up getting it at 118.98.. so got 2 bonus PIPs)

Let's see what happens from here...
Chances favour the prepared.
  • #1,703
  • Aug 3, 2007 7:56am Aug 3, 2007 7:56am
Quoting jasonowl
Ok... got in a Short at 119.23 @ about 1hr before NFP.
TP Limit at 119... (ended up getting it at 118.98.. so got 2 bonus PIPs)

Let's see what happens from here...
do u expect it to touch 118.85 from here?
  • #1,704
  • Aug 3, 2007 8:03am Aug 3, 2007 8:03am
Hmmm.. can't tell.
The recent move down, seems to be more of the stops being executed. So may not be reflective of a sell off.
The daily pivot is at 118.96, so watch to see if bounces off it again.

Quoting bksujal
do u expect it to touch 118.85 from here?
Chances favour the prepared.
  • #1,705
  • Aug 3, 2007 8:07am Aug 3, 2007 8:07am
Quoting jasonowl
Ok... got in a Short at 119.23 @ about 1hr before NFP.
TP Limit at 119... (ended up getting it at 118.98.. so got 2 bonus PIPs)

Let's see what happens from here...
What prompted you to change from your previous long bias?
  • #1,706
  • Aug 3, 2007 8:14am Aug 3, 2007 8:14am
Based on the price action on the 15min and 1hr time frames , I took it down to a shorter term view. Then again, theres always a risk with any trade.

Right now based on 1H, no Longs yet .. my 2 cents


Quoting thegunslinger
What prompted you to change from your previous long bias?
Chances favour the prepared.
  • #1,707
  • Aug 3, 2007 8:18am Aug 3, 2007 8:18am
Just bounced while typing replies...
But up side potential not good enought and not evident at the moment.
Again.. my 2 cents...

Quoting jasonowl
Hmmm.. can't tell.
The recent move down, seems to be more of the stops being executed. So may not be reflective of a sell off.
The daily pivot is at 118.96, so watch to see if bounces off it again.
Chances favour the prepared.
  • #1,708
  • Aug 3, 2007 8:21am Aug 3, 2007 8:21am
Quoting jasonowl
Just bounced while typing replies...
But up side potential not good enought and not evident at the moment.
Again.. my 2 cents...
Upside appears capped below the pivot. Just my .02
Patience + Humility + Study = Success
  • #1,709
  • Aug 3, 2007 8:28am Aug 3, 2007 8:28am
Looks like we have stabilised below the previous support of 119.05.

Need a break above here to confirm any longs again. Currently in a small short at 119.04.

G-Man

edit: Testing 118.90 again.
  • #1,710
  • Aug 3, 2007 8:31am Aug 3, 2007 8:31am
Quoting G-Man
Looks like we have stabilised below the previous support of 119.05.

Need a break above here to confirm any longs again. Currently in a small short at 119.04.

G-Man
Agreed
Patience + Humility + Study = Success
  • #1,711
  • Aug 3, 2007 9:04am Aug 3, 2007 9:04am
Well it finally went south and fairly quickly. I figured the move was going to be fast, based on all the 4h inside bars we've had since yesterday afternoon.
  • #1,712
  • Aug 3, 2007 9:07am Aug 3, 2007 9:07am
Well here we are at 118.50
Patience + Humility + Study = Success
  • #1,713
  • Aug 3, 2007 9:08am Aug 3, 2007 9:08am
Didn't think it would come down this far, but since it did i got a bargain for long again. Long at 118.54
  • #1,714
  • Aug 3, 2007 9:09am Aug 3, 2007 9:09am
50% fibo holding for now, but i think it will break
Trade what you see, not what you think.
  • #1,715
  • Aug 3, 2007 9:10am Aug 3, 2007 9:10am
118.02 is in play
Patience + Humility + Study = Success
  • #1,716
  • Aug 3, 2007 9:14am Aug 3, 2007 9:14am
Woah had to run an errand for 20 mins.. and this happens...
Nice.. let's see what's next..
Chances favour the prepared.
  • #1,717
  • Aug 3, 2007 9:31am Aug 3, 2007 9:31am
Long at 118.49... Let's play abit...
Looking for short term / retrace up move
Chances favour the prepared.
  • #1,718
  • Aug 3, 2007 9:32am Aug 3, 2007 9:32am
Looks like a little base building for next run. But where will it run?
Just Trade It
  • #1,719
  • Aug 3, 2007 10:01am Aug 3, 2007 10:01am
Quoting s3padrian
We'll have to see how this goes..if the current 30m/1h or next 30m/1h candle does not touch the top of the wedge.. and starts to retrace back down..it may be a sign of huge retracement back to 118.99 or even further to 118.72.

Both being possible long positions...118.72 being the less risky

But please.. I really don't know what I'm talking about.

I'm serious,
Adrian
This worked out better than I thought it would.

I entered long at 118.25. 61.8 fib line I was talking about: the low 3 days ago and the high yesterday. I believe this is a good time to buy, but like Dove says, I don't know what I'm talking about. I mean this. I am just randomly guessing and using price action. This trade may continue to go south even more than it already has.
  • #1,720
  • Aug 3, 2007 10:04am Aug 3, 2007 10:04am
Long again at 118.38 (Martingle)
Brings my average to 44.
Dangerous strategy, I max 3 levels of martingle.
That's how to bring back some lost pips... Finger's crossed

Quoting jasonowl
Long at 118.49... Let's play abit...
Looking for short term / retrace up move
Chances favour the prepared.
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