"Don't work for your money, but let money work for you."
- #5,402
- Dec 14, 2007 11:26am Dec 14, 2007 11:26am
- | Joined Aug 2007 | Status: Trader | 1,196 Posts
Check Mate GAME OVER
- #5,406
- Dec 19, 2007 5:14am Dec 19, 2007 5:14am
I know this pair has been quiet but no one wants to comment? 
My system told me to short early this morning at 112.93 but the pair seems to have found support in the daily Pivot Point S1 which is at 112.75
Seems like the holydays already started uh?
My system told me to short early this morning at 112.93 but the pair seems to have found support in the daily Pivot Point S1 which is at 112.75
Seems like the holydays already started uh?
- #5,408
- Dec 19, 2007 10:59am Dec 19, 2007 10:59am
It sure has been very range bound the past couple of days. My system still tells me to remain wih my long position until it hits the 114 area. But Im not to sure if that is such a good idea.
I'll keep watching to see if I find another re-entry zone but as Christmas approaches I wonder if I should just go on trading vacation and wait for the new year.
- #5,410
- Dec 19, 2007 9:10pm Dec 19, 2007 9:10pm
Hey thats ok, we all make mistakes. It will be very interesting to see what is going to happen within the next couple of hours. With the fact that the JPY will not increase or decrease rates, I am unable to predict any fluxuation in prices. I however think it will depend on the speech that Fukui will make after the interest rate decision.
Currently at the technical levels. 113.20, 112.80, and 112.50 seems to be current support levels. Going to the top side, resistance levels are at 113.50 and 114 should be key resistance levels. Based solely upon stochastics and RSI, it seems as if their is a neutral bias on the decision, pre interest rate (4hr charts).
In my opinion, I believe that this pair will be heading upwards, primarily due to the ascending triangle on the 4 hour charts. Although this is very uncertain, I am already in a long position with this pair since 110.00. I will be holding this position until it hits 114.00 which is a primary resistance level.
Currently at the technical levels. 113.20, 112.80, and 112.50 seems to be current support levels. Going to the top side, resistance levels are at 113.50 and 114 should be key resistance levels. Based solely upon stochastics and RSI, it seems as if their is a neutral bias on the decision, pre interest rate (4hr charts).
In my opinion, I believe that this pair will be heading upwards, primarily due to the ascending triangle on the 4 hour charts. Although this is very uncertain, I am already in a long position with this pair since 110.00. I will be holding this position until it hits 114.00 which is a primary resistance level.
Seems better than mine, just got stopped out for a 50 pip loss
I'll keep watching to see if I find another re-entry zone but as Christmas approaches I wonder if I should just go on trading vacation and wait for the new year.
"Don't work for your money, but let money work for you."
