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USD/JPY Discussion

  • #3,581
  • Aug 19, 2007 10:36pm Aug 19, 2007 10:36pm
Quoting Moe
enjoy your pips guys and happy trading.
  • #3,582
  • Aug 19, 2007 10:37pm Aug 19, 2007 10:37pm
Quoting dove_alliance
I make 150+ pips every day in this market - How about you?...... I'm not threaten by you or any one else for that matter......

God bless.
L.M.A.O. Enjoy your pips brother and happy trading.
If I Go Broke Trying Then I Will die happy.
  • #3,583
  • Aug 19, 2007 10:57pm Aug 19, 2007 10:57pm
Sorry, only new to this forum, did not realize there's a resident god trader here...bye
Biggest joker
  • #3,584
  • Aug 19, 2007 11:02pm Aug 19, 2007 11:02pm
Quoting baron193
Sorry, only new to this forum, did not realize there's a resident god trader here...bye
What's with all the negativity?
  • #3,585
  • Aug 19, 2007 11:05pm Aug 19, 2007 11:05pm
Anyone planning on going long with USD/JPY, I just placed a trade with a PT: of 115.50 and SL of 114.00??? Especially with that triangle thing going on.
"Don't work for your money, but let money work for you."
  • #3,586
  • Aug 19, 2007 11:08pm Aug 19, 2007 11:08pm
If it can break tro 11480 without brake, next target is R1 11551. But becareful on retraces.
  • #3,587
  • Aug 19, 2007 11:15pm Aug 19, 2007 11:15pm
Quoting sher
If it can break tro 11480 without brake, next target is R1 11551. But becareful on retraces.
Hopefully it does break the barrier. Im banking on that triangle that just occured on the 30 minute charts, hopefully it will push it to the next reisitance level.
"Don't work for your money, but let money work for you."
  • #3,588
  • Aug 19, 2007 11:18pm Aug 19, 2007 11:18pm
shorted at 114.74,...
s/l at 115.00,...
  • #3,589
  • Aug 19, 2007 11:36pm Aug 19, 2007 11:36pm
Based on a study I've done, if this uptrend continues, I'm looking at a stall in price around the 115.35 area with price reaching a daily high of 115.80, give or take a few pips. Let's see what happens.
  • #3,590
  • Aug 19, 2007 11:44pm Aug 19, 2007 11:44pm
Quoting southernmind
Based on a study I've done, if this uptrend continues, I'm looking at a stall in price around the 115.35 area with price reaching a daily high of 115.80, give or take a few pips. Let's see what happens.
Hey great review, possibly another 7 to 10 day stall??? Then another 150+ pip movement would be nice.
"Don't work for your money, but let money work for you."
  • #3,591
  • Aug 20, 2007 1:21am Aug 20, 2007 1:21am
High of 11549, just 2 pips to R1 11551. Will it come back to shut the door before 17:00 ET? Will see.
  • #3,592
  • Aug 20, 2007 1:40am Aug 20, 2007 1:40am
50% retrace, will it turn back?
  • #3,593
  • Aug 20, 2007 2:38am Aug 20, 2007 2:38am
Looks like I was correct. When price broke through the triangle (wedge), it came back and bounced off the top portion of it (which happened to coincide with the 23% fib line). Price shot past my stall target of 115.35 by about 15 pips but has since come back under it and is now offering resistance (that would be the 138% extension at the top). The circle at the top right is where price has bounced off the March low which is represented by the red line. Bullish!!!

Since the momentum is very strong I'm going to take off the table 115.80 as being a potential daily high and just use it as another point where price might possibly stall. This is represented by the 161% extension at the top.

Although I didn't trade $/yen, I used it as a guide that helped me make 140 pips on pound/yen not too long ago.
Attached Image (click to enlarge)
Click to Enlarge Name: DOLLAR YEN 30MIN.jpg Size: 83 KB
  • #3,594
  • Aug 20, 2007 4:41am Aug 20, 2007 4:41am
Whats the take on USDJPY pair when New York opens?
  • #3,595
  • Aug 20, 2007 5:05am Aug 20, 2007 5:05am
Quoting leachimeewg
Whats the take on USDJPY pair when New York opens?

I think it will rally at open and sell at close. Every market did well today so I would think the same for NY.

I think we will see 116 today.
( lets see what happens ).
  • #3,596
  • Aug 20, 2007 5:21am Aug 20, 2007 5:21am
Quoting Alabama
I think it will rally at open and sell at close. Every market did well today so I would think the same for NY.

I think we will see 116 today.
( lets see what happens ).
up till now.. still trading a very tight range...
average of 10pips Plus Minus

I wonder if everyone's waiting for BOJ's meeting on thursday..
  • #3,597
  • Aug 20, 2007 6:09am Aug 20, 2007 6:09am
Well,

It's all been a bit quiet today after the fireworks of last week.

It looks to me that Dove's concepts have held true again, with a break of the ket pivots leading to R1, then a reversal off of R1 heading back towards where it came from.

It's very difficult to determine direction at the moment, and I have been stopped out of a couple of small scalps so I think it's time for a break and some down time until we see some more volatility again.

G-Man
  • #3,598
  • Aug 20, 2007 6:24am Aug 20, 2007 6:24am
Quoting leachimeewg
up till now.. still trading a very tight range...
average of 10pips Plus Minus

I wonder if everyone's waiting for BOJ's meeting on thursday..

I think everyone is waiting to see what happens in the market. Slow morning.

catch everyone later.
  • #3,599
  • Aug 20, 2007 6:29am Aug 20, 2007 6:29am
DJIA is what's going to determine the next leg in JPY crosses. Good trades to all.
Patience + Humility + Study = Success
  • #3,600
  • Aug 20, 2007 7:08am Aug 20, 2007 7:08am
Quoting DutchTrader
DJIA is what's going to determine the next leg in JPY crosses. Good trades to all.
It looks like the u/j moves first and the dow reacts so far
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