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USD/JPY Discussion

  • #9,481
  • Jun 30, 2008 3:17am Jun 30, 2008 3:17am
Quoting Sole
but what do you think, is wise to open a long position from 105,00? Will try any corrective movment after this almost 200pips down?

Don't try and stop the move... Wait for some confirmation on the chart. We are beginning a phase of carry trades being unloaded and it could get real ugly so make sure to confirm any trades (don't try to catch the bottom).
  • #9,482
  • Jun 30, 2008 3:20am Jun 30, 2008 3:20am
Quoting mmccormac
Don't try and stop the move... Wait for some confirmation on the chart. We are beginning a phase of carry trades being unloaded and it could get real ugly so make sure to confirm any trades (don't try to catch the bottom).
carry trades were gone since months ago.

Since EU and UJ stopped being in a correlated move....you know that the carries were gone. No fun doing the Crosses anymore now, and you pay heavily for shorts....
  • #9,483
  • Jun 30, 2008 3:27am Jun 30, 2008 3:27am
Taking it easy on UJ.. made some money with EU for today..

This thing has moved 140pips from 106.40 area to 105..
Just have to be rational about a typical day range for UJ...

Won't go long yet.. this needs to show some strength to convince me in taking a dive ....
Chances favour the prepared.
  • #9,484
  • Jun 30, 2008 3:30am Jun 30, 2008 3:30am
Quoting jest1081
carry trades were gone since months ago.

Since EU and UJ stopped being in a correlated move....you know that the carries were gone. No fun doing the Crosses anymore now, and you pay heavily for shorts....
Yes we both know they have been and are being unloaded (there's trillions left in hedge funds) but many here seem to think this will just keep going up like it did over the past cycle.
  • #9,485
  • Jun 30, 2008 3:44am Jun 30, 2008 3:44am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
I'm so lucky today cause I get my short position in late Friday after switching my short position from the Geppy as I was convinced by the price-action that this maybe just a USD sell-off hence it doesn't make sense to me if I don't pair the strongest currency against the weakest currency....but damn it's was the last attempt to drag the pair cross the mark 116.....then bounce-off and resume the move this morning........ it's almost hit my stop loss at 116.60....fortunately it's fail to break that firm level hence drop off again to 116....at that moment I know I'm gonna smile just about time........ and indeed I got my trade out @114.20 after removing its initial target @115 -------> I must admit that I have a problem to let the profit run...... particularly when I'm monitoring my trade......... anyway, a triumph in the beginning of the week is always a good sign....... good luck to everyone
  • #9,486
  • Jun 30, 2008 3:56am Jun 30, 2008 3:56am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
Quoting Sole
but what do you think, is wise to open a long position from 105,00? Will try any corrective movment after this almost 200pips down?
I dont think it's a wise decision mate........ it's a pretty strong selling so any first sign of the pull back should be completely ignore no matte how strong is the support you might think......
Quote
Eur/usd move up looks painfull but UJ still trending lower.
what do you mean???????
  • #9,487
  • Jun 30, 2008 3:59am Jun 30, 2008 3:59am
Hi. Ichimoku works well in every timeframe, but works best in the daily chart. USD/JPY or Yen crosses seem to faithfully follow support and resistance that the Ichimoku shows. To make a more precise entry and exit, however, you may also want to use other indicators. The Ichimoku indicator is already incorporated into Metatrader4. Below are some of the information about Ichimoku.

I hope these links help.

http://www.investopedia.com/articles.../04/072104.asp
http://www.metaquotes.net/techanalys...ators/ichimoku
http://www.alpari-idc.com/en/market-.../ichimoku.html
http://www.sfomag.com/homefeaturedet...ch&YearID=2008

Quoting ehcydotcom
Hi...can you teach me how to use this indicators??? Thanks
  • #9,488
  • Jun 30, 2008 4:51am Jun 30, 2008 4:51am
this is my 30 minute chart so everyone can visually see how my indicators kept me going...... My 2 hour was consolidating but once it broke the bottom line there was no turn back..... You will also notice how it hit the Daily Pivot Point along with the upper BB, turned, and went down......
Attached Image (click to enlarge)
Click to Enlarge Name: 06-30-08.GIF Size: 72 KB
The Dove - Forex Trainer
  • #9,489
  • Jun 30, 2008 5:40am Jun 30, 2008 5:40am
Here is the EUR/JPY going south also with 200 pips......
I really like the way both pairs runs in parallel.
Attached Image (click to enlarge)
Click to Enlarge Name: 06-30-08_EUR_JPY.GIF Size: 76 KB
The Dove - Forex Trainer
  • #9,490
  • Jun 30, 2008 5:57am Jun 30, 2008 5:57am
25 up going north......
The Dove - Forex Trainer
  • #9,491
  • Jun 30, 2008 6:12am Jun 30, 2008 6:12am
sure looks like it, let`s see what hapens
  • #9,492
  • Jun 30, 2008 6:16am Jun 30, 2008 6:16am
Dove if you don`t mind me asking, what is your target for this up move?
  • #9,493
  • Jun 30, 2008 6:22am Jun 30, 2008 6:22am
Took 45 and looking for retrace
The Dove - Forex Trainer
  • #9,494
  • Jun 30, 2008 6:24am Jun 30, 2008 6:24am
Quoting judokamak
Dove if you don`t mind me asking, what is your target for this up move?
Eventually back to the Central Pivot at the 106.17
The Dove - Forex Trainer
  • #9,495
  • Jun 30, 2008 6:43am Jun 30, 2008 6:43am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
Quoting dove_alliance
this is my 30 minute chart so everyone can visually see how my indicators kept me going...... My 2 hour was consolidating but once it broke the bottom line there was no turn back..... You will also notice how it hit the Daily Pivot Point along with the upper BB, turned, and went down......
lol when the market has done any sizable movement, almost everything from simple to complicated form...... looks back pretty nice.....
  • #9,496
  • Jun 30, 2008 6:49am Jun 30, 2008 6:49am
Quoting dove_alliance
Eventually back to the Central Pivot at the 106.17
bro, 200 pips down already and you still insist the long side is the way to the light?
  • #9,497
  • Jun 30, 2008 6:50am Jun 30, 2008 6:50am
Quoting jest1081
bro, 200 pips down already and you still insist the long side is the way to the light?
I'm doing really good how about you?
The Dove - Forex Trainer
  • #9,498
  • Jun 30, 2008 6:55am Jun 30, 2008 6:55am
Quoting dove_alliance
I'm doing really good how about you?
scaling....and selling the rallies.

http://www.forexfactory.com/showpost...postcount=9453
  • #9,499
  • Jun 30, 2008 6:56am Jun 30, 2008 6:56am
Dove,
Still counting on a 60-70 pip correction here? For it to retrace to 160.00 it's got to move almost 60 pips now. I finished up a few pips ago. I chicken out early
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #9,500
  • Jun 30, 2008 6:59am Jun 30, 2008 6:59am
Quoting bristolxyz
Dove,
Still counting on a 60-70 pip correction here? For it to retrace to 160.00 it's got to move almost 60 pips now. I finished up a few pips ago. I chicken out early
It's in a retrace right now almost ready for another turn up......
The Dove - Forex Trainer
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