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USD/JPY Discussion

  • #5,521
  • Jan 6, 2008 8:26pm Jan 6, 2008 8:26pm
Hi

Aren't we on a retracement?
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  • #5,522
  • Jan 6, 2008 8:29pm Jan 6, 2008 8:29pm
Quoting jacobtrader
I had lots of Short positions.. Booked profits.
I am short at 108.60
I just wanted to confirm. aren't we on a retracement maybe to 109.40?
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  • #5,523
  • Jan 6, 2008 9:38pm Jan 6, 2008 9:38pm
Hmm I think that this pair will retrace back to 110.45ish area before having another chance of going back down . 4hr charts (High on December 27 to Low on January 4)
"Don't work for your money, but let money work for you."
  • #5,524
  • Jan 6, 2008 11:59pm Jan 6, 2008 11:59pm
Hi

Does anyone have the pivot points for EURJPY. If u have I'd appreciate to have a look at them. thanx
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  • #5,525
  • Jan 7, 2008 12:04am Jan 7, 2008 12:04am
Quoting fx_lane
Hi

Does anyone have the pivot points for EURJPY. If u have I'd appreciate to have a look at them. thanx
Try here.
  • #5,526
  • Edited 12:35am Jan 7, 2008 12:34am | Edited 12:35am
Quoting Trader KGB
Try here.
Hy trader kgb how are you, happy new year, I don't know if you remember me I used to trade with Mr. Dove but since he left I haven't trade that much, do you ever here from him againg, thanks in advance
The Chonchy
  • #5,527
  • Jan 7, 2008 1:27am Jan 7, 2008 1:27am
Quoting chonchy
Hy trader kgb how are you, happy new year, I don't know if you remember me I used to trade with Mr. Dove but since he left I haven't trade that much, do you ever here from him againg, thanks in advance
Hi Chonchy, Happy New Year to you too.

Alas, I have not heard from Dove. I emailed him but never heard back. I must say, I had my reservations about the reasons he gave for his sudden departure. Although, you certainly can't fault the guy for all of the time he invested in sharing his system and helping to show so many other traders the ropes.

I think if he hadn't jumped to trading the pound so quickly, perhaps things might have gone differently with the group. The pound can be a volatile chaotic pair, prone to endless false breakouts and reversals that happen on a dime. His system definitely has merit with USD/JPY, as we saw for several months on this very thread. I hope someday he's able to stop in again and say hello.
  • #5,528
  • Jan 7, 2008 1:55am Jan 7, 2008 1:55am
the lower timeframes might soon turn bullish. however so far this only a retracment. Staying out of the market for now.
  • #5,529
  • Jan 7, 2008 2:53am Jan 7, 2008 2:53am
Quoting Alfista
the lower timeframes might soon turn bullish. however so far this only a retracment. Staying out of the market for now.
ah... i was already in the market since last week.. longing....
  • #5,530
  • Jan 7, 2008 4:19am Jan 7, 2008 4:19am
Quoting engedi05
ah... i was already in the market since last week.. longing....
And that makes me a little bit positive now... time to reap some pips..
  • #5,531
  • Jan 7, 2008 6:39am Jan 7, 2008 6:39am
Hi

Good in the morning I noticed somethibg which looked like a retracement and indeed it was. So now the chart formation says south. Am I lost?
I'm new to USDJPY
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  • #5,532
  • Jan 7, 2008 6:45am Jan 7, 2008 6:45am
15M says we are going south however 4h maintance that we are going up in the long run, now I'm confused
Help
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  • #5,533
  • Jan 7, 2008 6:48am Jan 7, 2008 6:48am
Quoting fx_lane
15M says we are going south however 4h maintance that we are going up in the long run, now I'm confused
Help
I only trade the higher TFs, 15min is too much noise.
Patience + Humility + Study = Success
  • #5,534
  • Jan 7, 2008 9:35am Jan 7, 2008 9:35am
Quoting DutchTrader
I only trade the higher TFs, 15min is too much noise.
I Agree with Dutch Trader.
Dont look at 15 min - 30 mins or so.
If you are scalping ok.
But oyu should look long term . Daily Charts is best.

And USD/JPY will fall as Daily Charts suggest..
  • #5,535
  • Jan 7, 2008 9:35am Jan 7, 2008 9:35am
So any more reviews about this pair that where it would go.

i have seen some traders expecting it to go to 110.50 or 111.30 point but it turned down from 109.75 and is getting down.

do you think it would go to 107.20 point which is being widely expected or we can see a little bit more worse?
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  • #5,536
  • Jan 7, 2008 9:37am Jan 7, 2008 9:37am
Quoting Invest_Master
So any more reviews about this pair that where it would go.

i have seen some traders expecting it to go to 110.50 or 111.30 point but it turned down from 109.75 and is getting down.

do you think it would go to 107.20 point which is being widely expected or we can see a little bit more worse?

It will go to 107.20 And will fall further more down than it..
If i were you i would short..
  • #5,537
  • Jan 7, 2008 9:58am Jan 7, 2008 9:58am
Over the last few years it has been in USD/JPY's character to bounce then up-trend after a dip like the one in late November. We are still above the Nov 26 low which could make this a great time to buy into a position that could last for several weeks or months. The sequence has been: Significant dip on the daily after a time of hysteria (China's stock market crash in early 2006, Sub-Prime lending, etc.) then a bounce which often begins early Asian or London sessions on the smaller time frames. A break below Nov 26th low would invalidate this to me. For now, I am short because it has the smoothest down trend but interested in going long while it stays above 107.15
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  • #5,538
  • Jan 7, 2008 11:10am Jan 7, 2008 11:10am
USD/JPY has touched its high.. Did it profit booking and retraced.

Looks like Tuesday it will push down..
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  • #5,539
  • Jan 7, 2008 12:06pm Jan 7, 2008 12:06pm
Quoting jacobtrader
USD/JPY has touched its high.. Did it profit booking and retraced.

Looks like Tuesday it will push down..
I got two scenarios

Scenario 1
I am still looking forward for my PT... i.e 109.70. I am thinking that it would touch it and then i am looking forward for it to go around 111 point or somewhere around it and from then i would go down

Scenario 2.

If UJ goes down i would hold my present sell position and then would TP near 107.30 point and then would look forward for it to come back to this point.
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  • #5,540
  • Jan 7, 2008 12:08pm Jan 7, 2008 12:08pm
Quoting Invest_Master
I got two scenarios

Scenario 1
I am still looking forward for my PT... i.e 109.70. I am thinking that it would touch it and then i am looking forward for it to go around 111 point or somewhere around it and from then i would go down

Scenario 2.

If UJ goes down i would hold my present sell position and then would TP near 107.30 point and then would look forward for it to come back to this point.

So it looks you have 2 positions.. Hedging?
One Short one long ?
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