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USD/JPY Discussion

  • #10,381
  • Jul 9, 2008 11:05pm Jul 9, 2008 11:05pm
I hope everyone is in a trade somewhere....... buy on both yens and short on the eur.
The Dove - Forex Trainer
  • #10,382
  • Jul 9, 2008 11:06pm Jul 9, 2008 11:06pm
Quoting ak4x
You might want to think about not using limit orders until you have a better feel for things... those things can beat you up pretty good if you don't have a very good long term view of things. And I usually change my long term view several times during the day, as things change...

At the very least think about setting an expiration time and/or stop loss on them. They expire before a big announcement for instance, so they don't get triggered by a pip and then reverse for a week. I find myself rarely using them any more in this market.

PS except for slow ranging pivot entries
Tell me about it. I got crushed trying to trade the USD/CAD pair on rate decision day last month. placed a buy limit order too aggresively got triggered and went straight down.
"Don't trade to trade . . . trade to win." - James16
  • #10,383
  • Jul 9, 2008 11:07pm Jul 9, 2008 11:07pm
Quoting dove_alliance
I believe we will find out after midnight eastern time...... what do you think?
Dove,

I am looking at 10M, 20M and 30M USD/JPY charts with BB and Slow_Stoch.

BB's on the 10M and 30M look to be opening up with the candles riding the upper band.

Slow_Stoch looks on the upswing after being below the 20% line twice.

So, should this move up? I'm thinking yes the indicators are showing an uptrend about to take place, but somewhat of a weak one..

What to you think?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,384
  • Jul 9, 2008 11:09pm Jul 9, 2008 11:09pm
Quoting dove_alliance
I hope everyone is in a trade somewhere....... buy on both yens and short on the eur.
im long on the ej and short on the gu, hope that works
  • #10,385
  • Jul 9, 2008 11:10pm Jul 9, 2008 11:10pm
Quoting Clouds
im long on the ej and short on the gu, hope that works
I believe it will........
The Dove - Forex Trainer
  • #10,386
  • Jul 9, 2008 11:16pm Jul 9, 2008 11:16pm
Quoting bristolxyz
Dove,

I am looking at 10M, 20M and 30M USD/JPY charts with BB and Slow_Stoch.

BB's on the 10M and 30M look to be opening up with the candles riding the upper band.

Slow_Stoch looks on the upswing after being below the 20% line twice.

So, should this move up? I'm thinking yes the indicators are showing an uptrend about to take place, but somewhat of a weak one..

What to you think?
OK Bristol - lets got too the 20 chart and at 20:20 ET you will notice that the candle bounced off the upper BB.......Also at 20:20 the PDI/MDI was getting ready to cross...... at 20:40 the crossing happened and on one pip retrace I made an entry at 168.15 for the short...... I took 25 pips and then waited for it to come back because it is now below yesterdays low all indication says it is going long....... At 23:30 candle on the retrace I got in for the long at 167.95.... Study that for awhile and see if you can see it......


One other thing...... the PDI/MDI is on the verge for a another crossing going up.......
The Dove - Forex Trainer
  • #10,387
  • Jul 9, 2008 11:24pm Jul 9, 2008 11:24pm
Quoting dove_alliance
I hope everyone is in a trade somewhere....... buy on both yens and short on the eur.
what's ur target on the UJ and EU
thanks
  • #10,388
  • Jul 9, 2008 11:26pm Jul 9, 2008 11:26pm
Quoting toppz
what's ur target on the UJ and EU
thanks
With this momentum - not very much.......
The Dove - Forex Trainer
  • #10,389
  • Jul 9, 2008 11:27pm Jul 9, 2008 11:27pm
Quoting dove_alliance
OK Bristol - lets got too the 20 chart and at 20:20 ET you will notice that the candle bounced off the upper BB.......Also at 20:20 the PDI/MDI was getting ready to cross...... at 20:40 the crossing happened and on one pip retrace I made an entry at 168.15 for the short...... I took 25 pips and then waited for it to come back because it is now below yesterdays low all indication says it is going long....... At 23:30 candle on the retrace I got in for the long at 167.95.... Study that for awhile and see if you can see it......


One other thing...... the PDI/MDI is on the verge for a another crossing going up.......
You talking about the EUR/JPY? I was talking about the USD/JPY. Any way, I'm looking at the EUR/JPY Now.....?>
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,390
  • Jul 9, 2008 11:28pm Jul 9, 2008 11:28pm
I'm looking to take profit with the E/J around the .20.... And with the U/J maybe to the pivot.....
The Dove - Forex Trainer
  • #10,391
  • Jul 9, 2008 11:30pm Jul 9, 2008 11:30pm
Quoting bristolxyz
You talking about the EUR/JPY? I was talking about the USD/JPY. Any way, I'm looking at the EUR/JPY Now.....?>
The U/J works pretty much the same except for less pips.......
The Dove - Forex Trainer
  • #10,392
  • Jul 9, 2008 11:31pm Jul 9, 2008 11:31pm
I closed my new long at 106.94 - it's very reluctant to go higher now, and I'm too sleepy
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,393
  • Jul 9, 2008 11:32pm Jul 9, 2008 11:32pm
Dana i don't see us getting above the mid at 107.19...but time will tell...has been a really good night so far.....well over 200 pips for the evening...

Quoting dove_alliance
With this momentum - not very much.......
  • #10,394
  • Jul 9, 2008 11:32pm Jul 9, 2008 11:32pm
By the way, do you know the difference between investor and speculator?

Speculator buys low and sells high.

Investor buys high and can't sell at all
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,395
  • Jul 9, 2008 11:38pm Jul 9, 2008 11:38pm
Quoting dove_alliance
The U/J works pretty much the same except for less pips.......
i think I am on the right track.
I'm USD/JPY Long - in at 106.90
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,396
  • Jul 9, 2008 11:43pm Jul 9, 2008 11:43pm
I just took profit off the U/J...... the 20 minute chart went into the 2 minute increments and those with the AccuCharts knows what I am saying......
The Dove - Forex Trainer
  • #10,397
  • Jul 9, 2008 11:49pm Jul 9, 2008 11:49pm
Quoting Mrpipmaster
Dana i don't see us getting above the mid at 107.19...but time will tell...has been a really good night so far.....well over 200 pips for the evening...
Yep - I agree....... no power tonight....... maybe after London comes in......
The Dove - Forex Trainer
  • #10,398
  • Jul 9, 2008 11:53pm Jul 9, 2008 11:53pm
We got the mid between the central and the daily at the 88 and with BB staying there its just stalling in that area......
The Dove - Forex Trainer
  • #10,399
  • Jul 9, 2008 11:54pm Jul 9, 2008 11:54pm
same type of weird area with gu, i dont get it.
uj 4 hr
Attached Image
  • #10,400
  • Jul 10, 2008 12:01am Jul 10, 2008 12:01am
Well, I'm out of USD/JPY. Even , no pip there. Got to tired of waiting and don't think it's going to do anything but range untilk Europe opens up.

This from DOW JONES

0431 GMT [Dow Jones] Very strong USD/JPY bids stand at 106.70, players short-squeezed as many caught short by AUD/JPY, which spiked to 102.60 from 102.00, on better-than-expected Australia June jobs data, recovery in Nikkei, now up 85.27 at 13137.40 after hitting almost-three-month low of 12930.32 in morning, says Singapore-based dealer. "My friend sold two hundred million in dollar/yen in the morning around 106.85-90 but the pair only dropped to 106.70 where he met many bids. Dollar/yen is now very firm as many players are short-squeezed." USD/JPY last 106.88, AUD/JPY at 102.58.(LST)

200,000,000 JPY, and it hardley moved, imagine what is being sold or bought to make it move like we see it during some big news announcements. Wow.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
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