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Intra Day Yen - Naked

  • #741
  • Apr 9, 2008 2:04pm Apr 9, 2008 2:04pm
UJ bounced a little and GU came off - result GJ sideways.

IMO unlikely there will be much action untill the Asian session.

Next update will be before the Frankfurt Open
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Trading Levels with WRBs
  • #742
  • Apr 10, 2008 12:19am Apr 10, 2008 12:19am
More sell signals from the DZ early in the Asian Session for the drop first to the 200.00 level and finally to the pivot M1 line before a bounce back into the new DZ to reload the shorts.

Up to 150 pips from the first shorts and then another 80 from the second.

Now the 199.50 level is holding as we wait for Frankies Hour.
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Trading Levels with WRBs
  • #743
  • Apr 10, 2008 1:07am Apr 10, 2008 1:07am
Update - another pull back into the new DZ and this time cable joined UJ in falling and took GJ down hard to the 199 level at FO, for another 80 pip drop.

Now lets see what happens in the latest DZ
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Trading Levels with WRBs
  • #744
  • Apr 10, 2008 2:37am Apr 10, 2008 2:37am
After the strong drop into FO GJ is retracing and now held between the pivot S2 and M1 levels. UJ is likewise in between its S1 and S2 levels and cable has been down to and has now bounced up off its DP at 1.9724.

Patience is now required and with the Cable and Euro rates announcements later this morning it may be better to wait until after the announcements before entering again.
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Trading Levels with WRBs
  • #745
  • Apr 10, 2008 2:58am Apr 10, 2008 2:58am
Quoting Islander
After the strong drop into FO GJ is retracing and now held between the pivot S2 and M1 levels. UJ is likewise in between its S1 and S2 levels and cable has been down to and has now bounced up off its DP at 1.9724.

Patience is now required and with the Cable and Euro rates announcements later this morning it may be better to wait until after the announcements before entering again.
I agree Issy, today is a day for making some pips with no less than 5 high profile news reports coming out.
trading naked.......
  • #746
  • Apr 10, 2008 3:25am Apr 10, 2008 3:25am
Quoting piphitman
I agree Issy, today is a day for making some pips with no less than 5 high profile news reports coming out.

Agreed and sometimes its best just to watch the S / R levels.

Here, the last bounce up was off the 50 level and the rising gann line.

It got just above its S1 level when UJ also made a second hit on its S1 level and turned south again. A clear sell and now to see how far it drops - but best to take some profits at the Support levels before the UK news due in 10 mins at 08:30 GMT
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Trading Levels with WRBs
  • #747
  • Apr 10, 2008 3:41am Apr 10, 2008 3:41am
Always monitor the higher TFs - here the 5m and the 50% retrace that GJ likes so much - right on the S1 line too!
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Trading Levels with WRBs
  • #748
  • Apr 10, 2008 4:16am Apr 10, 2008 4:16am
The last Sell ran down inside the gann line and finally bounced off the M0 pivot level. UJ looks set to fall to its next pivot level at 100.30, but cable is rallying, so GJ will probably go sideways
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Trading Levels with WRBs
  • #749
  • Apr 10, 2008 6:59am Apr 10, 2008 6:59am
As I suggested earlier, price went sideways between to M0 and S1 levels until after the UK rates announcement.

The widely anticipated 0.25% cut helped UJ to sell off and GJ followed to a new low one pip above its S3 level.

How far will it bounce? - the 50% which is where the M0 level was acting as support will now be an important resistance.
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Trading Levels with WRBs
  • #750
  • Apr 10, 2008 8:53am Apr 10, 2008 8:53am
The move off the days low has been stronger than I expected and has retraced just over 50% of todays range, finally halting at the M1 level.

Remembering that Bernanke is speaking later, we may range trade until then.
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Trading Levels with WRBs
  • #751
  • Apr 10, 2008 11:21am Apr 10, 2008 11:21am
Whoops - no range trading, but rather a strong dollar rally, helped by a positive start on Wall Street.

Here's the last chart that I'll post for now - too much else to do.
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Trading Levels with WRBs
  • #752
  • Apr 10, 2008 9:00pm Apr 10, 2008 9:00pm
Early Asian session the past few days has shown some good trades so I decided to stay late at work and check it out today.......I was not disappointed. Price went upward from Asian open with consecutive higher lows and once it penetrated the M4 line it came back down to test and settled nicely for a few bounces off of the DZ/M4 line and a clean entry point before heading to its target.

Winner, Winner burnt chicken dinner.......

See ya'll in London.
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trading naked.......
  • #753
  • Apr 11, 2008 6:09am Apr 11, 2008 6:09am
Couldn't break above the DP in Frankies Hour and failed after the LO - good for 30+ pips down to the MS1 pivot.....
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Trading Levels with WRBs
  • #754
  • Edited 8:34am Apr 11, 2008 6:13am | Edited 8:34am
After yesterdays big run up in the US session we can expect a duller day - well until the dollar sold off in the 10:30 candle.....

Edit:GE Says Profit Fell, Citing Finance; Forecast Reduced

so that explains it.....WalMart's news sent it up yesterday, GE's sends it back down today......great for volatility and trading....
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Trading Levels with WRBs
  • #755
  • Apr 11, 2008 6:16am Apr 11, 2008 6:16am
This was the trigger for GJs fall....
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Trading Levels with WRBs
  • #756
  • Apr 11, 2008 12:31pm Apr 11, 2008 12:31pm
well done Issy,

I think it's called the piphitman indicator. I sit in front of my computer and price does nothing, I go to bed and price drops like a rock.

have a nice weekend
trading naked.......
  • #757
  • Apr 15, 2008 10:07pm Apr 15, 2008 10:07pm
What Ho !!,

Where is everyone?

Having to trade during early mid Asian session due to job. Noticing that no one else here trades in this session. Asian Very whippy during this session last several days. Last week was good. This week a looser. Was trying to trade EJ and moved to GJ to follow this thread more accurately. But spread and incomplete movements... price breaking DZ but not hitting targets and then reversing between DZ and 0 or 100 fib is eroding my confidence.

Is it me, the session or recent price action?
  • #758
  • Apr 17, 2008 2:56am Apr 17, 2008 2:56am
a bit of a choppy market so far this morning. We saw Cable punch through to the down side of 1.9700 finally and UJ making lower highs so I entered a short trade on GJ from the AL but took profit and exited immediately at the 200EMA as the 200EMA was an expected bounce point.
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trading naked.......
  • #759
  • Apr 17, 2008 3:37am Apr 17, 2008 3:37am
Quoting Lou
What Ho !!,

Where is everyone?

Having to trade during early mid Asian session due to job. Noticing that no one else here trades in this session. Asian Very whippy during this session last several days. Last week was good. This week a looser. Was trying to trade EJ and moved to GJ to follow this thread more accurately. But spread and incomplete movements... price breaking DZ but not hitting targets and then reversing between DZ and 0 or 100 fib is eroding my confidence.

Is it me, the session or recent price action?
Lou,

If you can get onto the very first moves in the Asian session you can make some good pips here lately. You gotta be on the very opening and watching IMO because after that it can get kinda slow at times in Asian session.

If I can enter a position at the DZ and price goes my way to the 100/0 line and then does an about face and reverses I'm going to take "some" profit there and see what the rest of the position does for me. If all you did was trade the DZ to the 100/0 you could still make some good profits.
trading naked.......
  • #760
  • Apr 17, 2008 5:48am Apr 17, 2008 5:48am
a GJ Whopper, anywhere from 140 to 200 pips depending on entry. fib drawn from low of yesterday to the high of the Asian session just prior to Frankfurt opening. Price had one pierce below the DZ and that was it. It was all UP from there.

I was not in this trade I was over baggin pips on Cable.
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trading naked.......
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