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USD/JPY Discussion

  • #7,681
  • Jun 10, 2008 11:55am Jun 10, 2008 11:55am
Quoting dove_alliance
Hello Everyone,
I came on so I could rationalize the truth on what the charts will say and not what some person may predict........ All the announcement was against the dollar this morning but it stayed in favor of the dollar for the simple reason the trend is still in favor of the dollar and that is the only reason....... This is so on all currencies that has the dollar. Trends will make you the money and not what someone will analyze and say. Even the announcements couldn't bring it the other way.......

The Dove
Hey Dove!
Quick question - what would you need to see happen on the USD/JPY to see the trend reverse?
  • #7,682
  • Jun 10, 2008 11:58am Jun 10, 2008 11:58am
Quoting dwildes
Hey Dove!
Quick question - what would you need to see happen on the USD/JPY to see the trend reverse?
In order for this Yen to change the EUR must change.
The Dove - Forex Trainer
  • #7,683
  • Jun 10, 2008 12:02pm Jun 10, 2008 12:02pm
Quoting dove_alliance
In order for this Yen to change the EUR must change.
To me though - it looks like the EUR/USD is way oversold, and the USD/JPY is way overbought. Looks like a timebomb waiting for both pairs to reverse.

I'm sure I'm probably missing something though - is there any kind of indicator you are wanting to see from the EUR? Go over 1.5550?
  • #7,684
  • Jun 10, 2008 12:14pm Jun 10, 2008 12:14pm
I think Bruce can confirm this.. but I think that everytime DOW was approaching or crossed the 12000 level... Bernanke appeared with a positive message to raise the dow.... He doesn't like to see the dow belowe 12000.. that's maybe the critical level for.. recession or not recession..
  • #7,685
  • Jun 10, 2008 12:15pm Jun 10, 2008 12:15pm
Quoting dwildes
To me though - it looks like the EUR/USD is way oversold, and the USD/JPY is way overbought. Looks like a timebomb waiting for both pairs to reverse.

I'm sure I'm probably missing something though - is there any kind of indicator you are wanting to see from the EUR? Go over 1.5550?
Not at this time...... This morning at 01:00 ET I had a retrace on the EUR that hit one of my indicators signaling an entry for the short at 1.5615 and I am still in this trade.
The Dove - Forex Trainer
  • #7,686
  • Jun 10, 2008 12:15pm Jun 10, 2008 12:15pm
Quoting dove_alliance
Hello Everyone,
I came on so I could rationalize the truth on what the charts will say and not what some person may predict........ All the announcement was against the dollar this morning but it stayed in favor of the dollar for the simple reason the trend is still in favor of the dollar and that is the only reason....... This is so on all currencies that has the dollar. Trends will make you the money and not what someone will analyze and say. Even the announcements couldn't bring it the other way.......

The Dove
I totally agree, all of these announcements and crazy news and conspiracies about US economy will not bring the dollar down ... it will go where it wants to go, and it wants to go up now .... nonetheless, I'd like to see it down soon for my sake ...
  • #7,687
  • Jun 10, 2008 12:16pm Jun 10, 2008 12:16pm
Quoting emda
I think Bruce can confirm this.. but I think that everytime DOW was approaching or crossed the 12000 level... Bernanke appeared with a positive message to raise the dow.... He doesn't like to see the dow belowe 12000.. that's maybe the critical level for.. recession or not recession..
I don't see that possible when the announcements had already been set many days prior.....
The Dove - Forex Trainer
  • #7,688
  • Jun 10, 2008 12:19pm Jun 10, 2008 12:19pm
Quoting dove_alliance
Hello Everyone,
I came on so I could rationalize the truth on what the charts will say and not what some person may predict........ All the announcement was against the dollar this morning but it stayed in favor of the dollar for the simple reason the trend is still in favor of the dollar and that is the only reason....... This is so on all currencies that has the dollar. Trends will make you the money and not what someone will analyze and say. Even the announcements couldn't bring it the other way.......

The Dove
Hello Dove,

Nice to see you on the boards again....
Hope eveyrthing is well
Rav
  • #7,689
  • Jun 10, 2008 12:21pm Jun 10, 2008 12:21pm
Quoting Schminner
I totally agree, all of these announcements and crazy news and conspiracies about US economy will not bring the dollar down ... it will go where it wants to go, and it wants to go up now .... nonetheless, I'd like to see it down soon for my sake ...
Are you still holding your shorts? How far against you is it now? 200 pips?
  • #7,690
  • Jun 10, 2008 12:25pm Jun 10, 2008 12:25pm
Quoting dove_alliance
In order for this Yen to change the EUR must change.
hey dove, i pmed u did u get it?
  • #7,691
  • Jun 10, 2008 12:28pm Jun 10, 2008 12:28pm
Quoting rav700
Hello Dove,

Nice to see you on the boards again....
Hope eveyrthing is well
Rav
Hello Rav - just here temporally to get things straight.
The Dove - Forex Trainer
  • #7,692
  • Jun 10, 2008 12:30pm Jun 10, 2008 12:30pm
Quoting Ron3226
Are you still holding your shorts? How far against you is it now? 200 pips?
Yeah, I'm still holding it .... it opened at 106.00, therefore I'm about 140 or more pips in the RED ... I'm holding it until Margin Call comes knocking at my door .....
  • #7,693
  • Jun 10, 2008 12:34pm Jun 10, 2008 12:34pm
Been there buddy on the margin call. Overconfidence can be a bad,bad thing. I do hope this bloated pair comes down and bails you out though.

My story didn't have as happy of an ending.
  • #7,694
  • Jun 10, 2008 12:34pm Jun 10, 2008 12:34pm
Quoting Schminner
Yeah, I'm still holding it .... it opened at 106.00, therefore I'm about 140 or more pips in the RED ... I'm holding it until Margin Call comes knocking at my door .....
One of the biggest mistakes a trader can make is chasing a bad trade..... You already gone this far but, 106.00 may not be a reality any time soon...... Something to think about.
The Dove - Forex Trainer
  • #7,695
  • Jun 10, 2008 12:37pm Jun 10, 2008 12:37pm
Quoting Ron3226
Are you still holding your shorts? How far against you is it now? 200 pips?
hello everyone!!

im still holding my short @ 106.25 .. the good news is that it was a small sized trade.

if it manages to get to 107.50 ill short again with a bigger trade and so on.. the worst thing that can happen in my case is that if it gets to 120 (aprox.) before a 100 pips reversal at any time is getting a margin call, lol... and i know it won't happen

also, this not the eurusd thread but it also looks some kind oversold at 1H charts (im doing the same thing with longs there). i agree with dove_alliance that it is the key for a reversal.

the only thing i know is that usd cant be strong just because ben wants ... so, i'm still against usd and only economic data will make me change my opinion and accept my loss in case there is.

im doing this same thing since the last month and its working for me.
... /$ -> LONG
  • #7,696
  • Jun 10, 2008 12:39pm Jun 10, 2008 12:39pm
OK - I just closed my EUR trade with 160 pips profit.
The Dove - Forex Trainer
  • #7,697
  • Jun 10, 2008 12:50pm Jun 10, 2008 12:50pm
Quoting MaZae
hello everyone!!

im still holding my short @ 106.25 .. the good news is that it was a small sized trade.

if it manages to get to 107.50 ill short again with a bigger trade and so on.. the worst thing that can happen in my case is that if it gets to 120 (aprox.) before a 100 pips reversal at any time is getting a margin call, lol... and i know it won't happen
Yeah, Martingale rules .....
  • #7,698
  • Jun 10, 2008 1:07pm Jun 10, 2008 1:07pm
Quoting karmostaji
Nobody knows
You might think you know but there are always things that occur that were not planned for. Most of the day S&P was down. Nasdaq was down. The Futures on the Dow were down.

Oil was UP and eventually it started to fall. Guess what is going on ? Very few people know for sure but one thing is sure since Friday last. 100% sure.

The FED and the US Government was out in force TALKING UP the US Dollar since last week. Why ? The answers have been posted on this thread. SURPRISE, The Bank Of Canada was to cut 25 basis points and did not.

The FED is TRAPPED like sinking RATS in a boat. They are not RATS, just Bankers. I would not want to insult RATS on Forex Forum.

Now What ? Who All Of You confused FX traders like to be less confused ? Make money whether it goes Up or Down ?

Of course you would. I will show you how to make money if only you would listen and not continue on in your old ways. If you are winning now like The Dove is then just go on winning your 100 PIPS per day.

I await your comments !!!


Bruce
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  • #7,699
  • Jun 10, 2008 1:07pm Jun 10, 2008 1:07pm
The nearest resistance and a strong one lies at 107.63 (weekly R2), and 107.64 (daily R2). I don't see it break above before the close of NY session.
Approach of the 107.6 area would be a good time to take profit on the longs to use the most likely retracement to the new daily pivot point for another long entry.
"Luxury is one of the basic needs", (c), Don Corleone
  • #7,700
  • Jun 10, 2008 1:10pm Jun 10, 2008 1:10pm
Quoting Warren Forex
You might think you know but there are always things that occur that were not planned for. Most of the day S&P was down. Nasdaq was down. The Futures on the Dow were down.

Oil was UP and eventually it started to fall. Guess what is going on ? Very few people know for sure but one thing is sure since Friday last. 100% sure.

The FED and the US Government was out in force TALKING UP the US Dollar since last week. Why ? The answers have been posted on this thread. SURPRISE, The Bank Of Canada was to cut 25 basis points and did not.

The FED is TRAPPED like sinking RATS in a boat. They are not RATS, just Bankers. I would not want to insult RATS on Forex Forum.

Now What ? Who All Of You confused FX traders like to be less confused ? Make money whether it goes Up or Down ?

Of course you would. I will show you how to make money if only you would listen and not continue on in your old ways. If you are winning now like The Dove is then just go on winning your 100 PIPS per day.

I await your comments !!!


Bruce
I have listen to you for months on end and all you do is promise to make everyone a good trader but you haven't done so yet....... You keep feeding garbage and enough is enough....... Become a trader and then think about helping people.
The Dove - Forex Trainer
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