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USD/JPY Discussion

  • #2,701
  • Aug 14, 2007 10:35pm Aug 14, 2007 10:35pm
We are still looking at the 23 with a possible hard bounce to the 14 before a turn around.
The Dove - Forex Trainer
  • #2,702
  • Aug 14, 2007 10:42pm Aug 14, 2007 10:42pm
Being this close to the S1 I would just wait and get in on the turn around.
The Dove - Forex Trainer
  • #2,703
  • Aug 14, 2007 10:42pm Aug 14, 2007 10:42pm
Hope I get this up in time.
Just some temporary/short term profit taking for the shorts...

There maybe more down move..
http://img28.picoodle.com/img/img28/...0m_22481a2.jpg
Chances favour the prepared.
  • #2,704
  • Aug 14, 2007 10:47pm Aug 14, 2007 10:47pm
The market has been moving in very aggressively. I have been putting in smaller lots and being a bit caucious. Its easy to make money when the market is in your favor, but its been very difficult to predict the outcome of certain pairs latley.
  • #2,705
  • Aug 14, 2007 10:52pm Aug 14, 2007 10:52pm
Don't think this is over because of hitting the S1 we still have the weekly S1 to content with.... At the 14
The Dove - Forex Trainer
  • #2,706
  • Aug 14, 2007 10:56pm Aug 14, 2007 10:56pm
Also remember that the 117.20 is a hard, hard support.
The Dove - Forex Trainer
  • #2,707
  • Aug 14, 2007 11:06pm Aug 14, 2007 11:06pm
do you get in to retracement (if there is)? or u just wait till price is closed below/above pivot,support, or res level?
  • #2,708
  • Aug 14, 2007 11:07pm Aug 14, 2007 11:07pm
a possible turn around? rsi have indicated overbought for so long....
  • #2,709
  • Aug 14, 2007 11:08pm Aug 14, 2007 11:08pm
I hope everyone understands that we are in a retrace mode for the moment..... The turn around has not happen yet.
The Dove - Forex Trainer
  • #2,710
  • Aug 14, 2007 11:08pm Aug 14, 2007 11:08pm
So when is the turn around defined?
  • #2,711
  • Aug 14, 2007 11:11pm Aug 14, 2007 11:11pm
Quoting Blackinc
So when is the turn around defined?
when your stop loss been hit. just kidding.no one knows surely.
  • #2,712
  • Aug 14, 2007 11:12pm Aug 14, 2007 11:12pm
Quoting herry_winandi
do you get in to retracement (if there is)? or u just wait till price is closed below/above pivot,support, or res level?
I do get in on retracements but I suggest until you are familiar on the procedure of doing so do not attempted it on a live account practice on a demo. This is why I do not mention my retracements in case you get the wrong idea and find yourself in trouble.
The Dove - Forex Trainer
  • #2,713
  • Aug 14, 2007 11:17pm Aug 14, 2007 11:17pm
Err.. put a Faster MA (say 4) and Slower MA (say 8).. wait for lines to cross... on the 5min Chart (for short term)

This is a very very rough idea, and while I'm typing this, you'd see why Dove said that the move up was a retracement.
And if you put the above MAs, you'd see the lines DIDN'T cross for the move up.

Don't flame me for this Its just a quick and Dirty way... u need other indicators...

Quoting Blackinc
So when is the turn around defined?
Chances favour the prepared.
  • #2,714
  • Aug 14, 2007 11:18pm Aug 14, 2007 11:18pm
There was the hard bounce to the 14, lets see where we go from here.
The Dove - Forex Trainer
  • #2,715
  • Aug 14, 2007 11:22pm Aug 14, 2007 11:22pm
Quoting dove_alliance
I hope everyone understands that we are in a retrace mode for the moment..... The turn around has not happen yet.

then how do u know we are in retrace mode or going to break support level??
  • #2,716
  • Aug 14, 2007 11:24pm Aug 14, 2007 11:24pm
We are still in a very hard trend down....
The Dove - Forex Trainer
  • #2,717
  • Aug 14, 2007 11:30pm Aug 14, 2007 11:30pm
Wow some major carry unwinding underway, 117 broken. Hard to imagine G/J off some 500 pips in the past 24 hours. Have to be misery for anyone holding long..

Dutch, is your friend still short A/J from 107? Great trade.
  • #2,718
  • Aug 14, 2007 11:30pm Aug 14, 2007 11:30pm
Pivot points, what pivot points?

I love this game!
  • #2,719
  • Aug 14, 2007 11:35pm Aug 14, 2007 11:35pm
Quoting Trader KGB
Wow some major carry unwinding underway, 117 broken. Hard to imagine G/J off some 500 pips in the past 24 hours. Have to be misery for anyone holding long..

Dutch, is your friend still short A/J from 107? Great trade.
Yep, and I haven't heard the end of that LOL, but I'm happy for him, plus now all drinks/dinners are on him. HAHAHA
Patience + Humility + Study = Success
  • #2,720
  • Aug 14, 2007 11:36pm Aug 14, 2007 11:36pm
Not sure if that sharp drop was all a reaction to this, another one bites the dust!

Aug. 15 (Bloomberg) -- Australia's Basis Capital Fund Management Ltd. said losses in one of its funds may exceed 80 percent as the rout in the U.S. subprime market prompted its creditors to force the sale of some assets.
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