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USD/JPY Discussion

  • #8,421
  • Jun 16, 2008 8:38pm Jun 16, 2008 8:38pm
hello there is chatter that the euro zone will raise rates due to high inflation...and the Chinese have taken advantage of the news....my two cents on the move....good trading...

Quoting southernmind
I would like to know what caused this move. Anyone know?
  • #8,422
  • Jun 16, 2008 8:41pm Jun 16, 2008 8:41pm
Quoting dove_alliance
Yea, I know...... It was time for one of the major banks in Tokyo to make a trade and that is what happen........
LOL.....ok funny man, why was the trade made? That's what I was getting at. Buit you knew that, didn't you? It's all good though. May the pips be with you.
  • #8,423
  • Jun 16, 2008 8:42pm Jun 16, 2008 8:42pm
Quoting Mrpipmaster
Long here also and looking for smooth take profit at or 108.38-108.55 area.....
Quoting Mrpipmaster
i took my 3 pip profit on the dollar/yen
What happened to the first trade?
  • #8,424
  • Jun 16, 2008 8:48pm Jun 16, 2008 8:48pm
Quoting southernmind
LOL.....ok funny man, why was the trade made? That's what I was getting at. Buit you knew that, didn't you? It's all good though. May the pips be with you.
smiling - you forgetting who own this market and it sure isn't the traders..........
The Dove - Forex Trainer
  • #8,425
  • Jun 16, 2008 8:48pm Jun 16, 2008 8:48pm
clucked out at 108.18 with 3 pips and holding the buy euro trade at 1.5470.. 3 pips....

Quoting Trader KGB
What happened to the first trade?
  • #8,426
  • Jun 16, 2008 8:52pm Jun 16, 2008 8:52pm
Quoting Mrpipmaster
clucked out at 108.18 with 3 pips and holding the buy euro trade at 1.5470.. 3 pips....
I see, good catch getting in on the euro before it went parabolic.
  • #8,427
  • Jun 16, 2008 8:54pm Jun 16, 2008 8:54pm
I just want to say that all the carry traders (looking for long positions) take care, and don't expect price to go any further than 108.30-50. It's a major resistance area. So be carefull, I THINK (anything in this market is for sure) trend is changing to the downside for the next few days, if the mentioned resistance area holds. Lets see what happens.

Once again, happy and profitable trading to all of you!!!
  • #8,428
  • Jun 16, 2008 8:54pm Jun 16, 2008 8:54pm
Quoting dove_alliance
The trend is still up......
Do we now cut our losses if still long?
  • #8,429
  • Jun 16, 2008 8:57pm Jun 16, 2008 8:57pm
i call those power moves....have alerts that sound off and the alert me this one knocked me off my chair....so it was a go before complete indicator set up....

Quoting Trader KGB
I see, good catch getting in on the euro before it went parabolic.
  • #8,430
  • Jun 16, 2008 9:08pm Jun 16, 2008 9:08pm
Quoting dwildes
Do we now cut our losses if still long?
I went ahead and covered
  • #8,431
  • Jun 16, 2008 9:24pm Jun 16, 2008 9:24pm
I'm hoping this is a reversal and not just another dip ....
  • #8,432
  • Jun 16, 2008 9:45pm Jun 16, 2008 9:45pm
Quoting Schminner
I'm hoping this is a reversal and not just another dip ....
If you're still short then keep hoping because the 10 is getting ready to kick back in for the up.
The Dove - Forex Trainer
  • #8,433
  • Jun 16, 2008 9:52pm Jun 16, 2008 9:52pm
Quoting dove_alliance
If you're still short then keep hoping because the 10 is getting ready to kick back in for the up.
Cool!
I've been scalping 4-5 PIP trades and have recovered my losses from my last Long. I'm holding a long from 107.91 - was going to scalp it, but I think I'll hold it a little longer...
  • #8,434
  • Jun 16, 2008 9:55pm Jun 16, 2008 9:55pm
Looks like the short on u/j at 108.50 was right on. I love it when trades work out like they should.



Quoting steelhead
Ok then here you go.


1 I am going to look for an area to short the u/j around 108.50 area

2. I am looking for a place to long the nzd/usd area this evening. .7500 to .7450

3. Looking for a place to long the g/u and e/u would like to see them at 1.9400 and 1.5300 areas

4. I am also looking to buy the euro/cad

5. looking for a place to short the p/j around 212.00


these are the trades I am looking at this week. I will remain patient and wait for the market to come to me, not the other way around.
  • #8,435
  • Jun 16, 2008 10:07pm Jun 16, 2008 10:07pm
Quoting txfx
firstboss: while you're targeting your 18 pips what kind of stop do you have?
I don't preset a stop-loss when I watch the market live. Fixed my losses at 108.05 only because I had to leave for a while...
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,436
  • Jun 16, 2008 10:24pm Jun 16, 2008 10:24pm
not particularly liking that 20m candle...

time to go to properties, hide the candles, and just trust the indicators...

ahhh. much better.
FUBAR...
  • #8,437
  • Jun 16, 2008 10:37pm Jun 16, 2008 10:37pm
Techincals are looking down, and I am now short at 107.88.

mid - point 107.72, S2 - 107.55.

Bollinger Band on 2 hours slowed things a little, imho
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,438
  • Jun 16, 2008 10:53pm Jun 16, 2008 10:53pm
I t is about to go down tonight I think we will see the 105 area by the end of the week. I trade using both 1hr and daily and that is what my system is telling me plus this pair has been overbought since last week. Good luck all.
  • #8,439
  • Jun 16, 2008 10:56pm Jun 16, 2008 10:56pm
Quoting ak47dan2004
I t is about to go down tonight I think we will see the 105 area by the end of the week. I trade using both 1hr and daily and that is what my system is telling me plus this pair has been overbought since last week. Good luck all.
I really don't see how your daily and weekly are showing a down when my are still showing an up.........
The Dove - Forex Trainer
  • #8,440
  • Jun 16, 2008 10:56pm Jun 16, 2008 10:56pm
Quoting dwildes
Thanks KGB!!
This is now my new main indicator.
I love how clean it is and very easy to use and understand immediately.
Just a heads up guys..... all the indicator I have found so far for metatrader including Habeebs and the one wizzardpip posted and the ones I initially posted they all displayed yesterdays daily pivots INCORECTLY as per Doves setup. They use Fridays close=17:00 price, Dove does not use that. That's why I hacked an indicator in my last post so you can manually enter the correct high/low/close price.


Dean.
perception is reality
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