creating wealth one pip at a time.....
- #6,187
- Apr 22, 2008 6:11pm Apr 22, 2008 6:11pm
- | Joined Jan 2007 | Status: these pretzels 'r making me thirsty | 252 Posts
Price 103.00
TP 102.00
SL 103.70
Ok, Pep, where are you getting these targets from?
TP because coincides with fibo in 38.2%, up trendline in D1 and trendline of channel up in D1.
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GoodLuck To Us
- #6,188
- Apr 22, 2008 6:31pm Apr 22, 2008 6:31pm
SL 103.70 because is above fibo 76.4% and resistance in 103.53
TP because coincides with fibo in 38.2%, up trendline in D1 and trendline of channel up in D1.
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GoodLuck To Us
- #6,191
- Apr 23, 2008 11:48am Apr 23, 2008 11:48am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #6,195
- Apr 24, 2008 5:53am Apr 24, 2008 5:53am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #6,196
- Apr 24, 2008 8:24am Apr 24, 2008 8:24am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #6,197
- Apr 24, 2008 9:15am Apr 24, 2008 9:15am
The next two days could be very interesting. One point that I would like to make in trading of this particular pair as it relates to the technicals. I use various charting services and produce my own in a amateur way as charting is not my strong suit.
One of the more accurate and effective charting services along with substantial fundamenta information is 4cast.
As good as 4cast is they NEVER factor in a changing fundamental nor should they. That changing fundamental each day is the Dow Jones Average.
4cast is calling for USD/JPY to challenge 104.00 on the way to 105.00
However if the Dow goes down 250 points today they will change their call as USD/JPY goes below 103.00 and perhaps more.
The point being with this pair the fundamentals change every day. I hope this post is uesful for those trading this pair.
Jobless Claims at 8:30 AM can effect the Dow Futures if over 400,000 and New Home Sales at 10:00 AM, which is a leading indicator unlike Existing Home Sales which is a lagging indicator also will give direction to the Dow if it is Better than Consensus or Worse.
Option Expiry at 10:00 AM always have some effect. The EUR/USD has weakened so EUR/JPY is not running towards 165.00 at the moment and thus not sending USD/JPY up as much. They sell the JPY and buy EUR.
For a good site to get free fundamentals go to:
WWW.JSMINESET.COM
Have A Great Trading Day !!!
Bruce
creating wealth one pip at a time.....
- #6,199
- Apr 25, 2008 2:03pm Apr 25, 2008 2:03pm
Damn, I'm holding my shorts and it seems to be going in the opposite direction ...
do not to worry about ur short post,
let see whether USDJPY still up or start going down