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USD/JPY Discussion

  • #10,181
  • Jul 8, 2008 8:22pm Jul 8, 2008 8:22pm
The first alert that there is a problem with the market are the trends....... Right now, there are no trend in any of the pairs....... That is a major problem in the market........ No trends, no direction......
The Dove - Forex Trainer
  • #10,182
  • Jul 8, 2008 8:22pm Jul 8, 2008 8:22pm
Quoting joe11757
I am new here but I do believe the U/J is topped out . . . . . . . . I am short at 107.50 ..........
110 is still in favor......smiling
The Dove - Forex Trainer
  • #10,183
  • Jul 8, 2008 8:24pm Jul 8, 2008 8:24pm
Quoting dove_alliance
110 is still in favor......smiling
I'll ride it through 110 and back down ........... best of luck.
  • #10,184
  • Jul 8, 2008 8:24pm Jul 8, 2008 8:24pm
Quoting dove_alliance
Well - the E/J and the E/U are giving up the pips........And they both are going short......

EJ - Rising wedge towards an UTL (downtrend line) - Still making HHs and LHs. Nothing defined. Just when that wedge is broken we shall see a good ammount of pips.

EU - Ascendind channel crossing a descending channel. Also bulls fighting bears. Nothing tradable as of now.

As for this time, I always find it not too good for trading. Prefer to read an deeply analyze my charts. Try to see things from different perspectives.

Cheers to all of you and nice pippin'.
  • #10,185
  • Jul 8, 2008 8:25pm Jul 8, 2008 8:25pm
Quoting dove_alliance
The first alert that there is a problem with the market are the trends....... Right now, there are no trend in any of the pairs....... That is a major problem in the market........ No trends, no direction......
Wide ranging is pretty typical of summer months with the exception of subprime crisis last year.
I saw these ranges forming about a month ago, but was afraid to act on them :-) EUR/USD is nicely squeezed between 1.5350 and 1.5850, for example
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,186
  • Jul 8, 2008 8:27pm Jul 8, 2008 8:27pm
Quoting jupiter_peak
EJ - Rising wedge towards an UTL (downtrend line) - Still making HHs and LHs. Nothing defined. Just when that wedge is broken we shall see a good ammount of pips.

EU - Ascendind channel crossing a descending channel. Also bulls fighting bears. Nothing tradable as of now.

As for this time, I always find it not too good for trading. Prefer to read an deeply analyze my charts. Try to see things from different perspectives.

Cheers to all of you and nice pippin'.
I'm in profit and that is all I know........ Cheers
The Dove - Forex Trainer
  • #10,187
  • Jul 8, 2008 8:30pm Jul 8, 2008 8:30pm
Quoting Firstboss
Wide ranging is pretty typical of summer months with the exception of subprime crisis last year.
I saw these ranges forming about a month ago, but was afraid to act on them :-) EUR/USD is nicely squeezed between 1.5350 and 1.5850, for example
Yep - I know what you are saying and this ranging could last another month or two....... But that is OK, I'll ride it going up and down........
The Dove - Forex Trainer
  • #10,188
  • Jul 8, 2008 8:36pm Jul 8, 2008 8:36pm
Quoting Firstboss
Wide ranging is pretty typical of summer months with the exception of subprime crisis last year.
I saw these ranges forming about a month ago, but was afraid to act on them :-) EUR/USD is nicely squeezed between 1.5350 and 1.5850, for example
You WERE afraid ............ have you played them since ???
  • #10,189
  • Jul 8, 2008 8:37pm Jul 8, 2008 8:37pm
Big lightning storm coming. closed 2 shorts for a few pips each and going for ice cream. Back tomorrow sometime. Careful trading all, hinkiness in the air...
FUBAR...
  • #10,190
  • Jul 8, 2008 8:37pm Jul 8, 2008 8:37pm
The AUD/JPY is the mover... and it just broke the daily PP on Bad Home Loans News.
perception is reality
  • #10,191
  • Jul 8, 2008 8:43pm Jul 8, 2008 8:43pm
Maybe catch a few pips om a retrace? Or sit in front of TV and eat ice cream..
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,192
  • Jul 8, 2008 8:46pm Jul 8, 2008 8:46pm
Maybe so, or maybe not. It is not rare to see that the Tokyo traders prefer doing nothing, and let the Russian/London traders decide what to do about the market's direction. But this time, I'm unsure about why the market has not responded to the much-better-than-expected number. Maybe because G8 is still going on in Hokkaido, Japan, and people are expecting to hear a positive statement on USD and oil.

Hmm...maybe we should be careful about the after-G8 reaction. If no positive statement to prevent oil price hike is not provided, oil may start climing up, and USD may start going lower again. As for oil, the upward trend line has not been breached yet.

From a a different standpoint, it appears that USD may be poised to break 200sma higher this time though nobody knows if it will be successful at this moment.

Quoting dove_alliance
I think the trader for Tokyo Bank couldn't believe the numbers either and decided to give it up for the night......... what do you think.......?
  • #10,193
  • Jul 8, 2008 8:47pm Jul 8, 2008 8:47pm
Quoting bristolxyz
Maybe catch a few pips om a retrace? Or sit in front of TV and eat ice cream..
I eat ice cream while I'm watching my monitors.......
The Dove - Forex Trainer
  • #10,194
  • Jul 8, 2008 8:49pm Jul 8, 2008 8:49pm
Quoting dove_alliance
I eat ice cream while I'm watching my monitors.......
Now THAT is the way to make money ...........
  • #10,195
  • Jul 8, 2008 8:53pm Jul 8, 2008 8:53pm
Quoting dove_alliance
I eat ice cream while I'm watching my monitors.......

I'm doing justthat, watching the AUD/JPY.

Hey Dove, on a drop on news, to use the Fibo to calculate a retrace, you would draw a Fibo from th etop of the drop to the bottom, then expect a retrace to about what position? Would you check some past drops (on news or whatever) to see abou twhat it has a habit of doing? How do you figure that..?

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,196
  • Jul 8, 2008 8:55pm Jul 8, 2008 8:55pm
shit I'm going to have to go for some ice cream too... lol
  • #10,197
  • Jul 8, 2008 8:58pm Jul 8, 2008 8:58pm
Quoting emda
shoot I'm going to have to go for some ice cream too... lol
http://images.ciao.com/ide/images/pr...h__1959003.jpg
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,198
  • Jul 8, 2008 9:05pm Jul 8, 2008 9:05pm
Quoting bristolxyz
http://images.ciao.com/ide/images/pr...h__1959003.jpg
thank you so much

uj is trying to break down.. making attempts... but then the usd buyers come again at every attempt... I see a big triangle in the H1 chart... it should be inside the triangle until the G8 finishes... mmm
  • #10,199
  • Jul 8, 2008 9:15pm Jul 8, 2008 9:15pm
Quoting bristolxyz
I'm doing justthat, watching the AUD/JPY.

Hey Dove, on a drop on news, to use the Fibo to calculate a retrace, you would draw a Fibo from th etop of the drop to the bottom, then expect a retrace to about what position? Would you check some past drops (on news or whatever) to see abou twhat it has a habit of doing? How do you figure that..?

Bristol
I don't use a Fibo to figure retraces....... That is all built in on the pivots......
The Dove - Forex Trainer
  • #10,200
  • Edited 9:52pm Jul 8, 2008 9:31pm | Edited 9:52pm
~~ USDJPY ~~ is steaming up for a break with a tight symmetrical triangle formation retracing 38% daily and monthly within relative time frames as shown on the charts..

Tomorrow is a WWW day so we could see a volatile session for markets. Good luck with trades


Charts

http://trend-signals.blogspot.com/20...-triangle.html
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