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USD/JPY Discussion

  • #10,641
  • Jul 10, 2008 7:22pm Jul 10, 2008 7:22pm
Quoting Clouds
look for support around 106.75
I don't want numbers, I want thoughts. There is some good support around 106.90 though.
  • #10,642
  • Jul 10, 2008 7:23pm Jul 10, 2008 7:23pm
Does anyone else see E/J and U/J as ripe for short? Looks like E/J is in a short trend..
The PDI/MDI finally crossed on U/J
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,643
  • Jul 10, 2008 7:26pm Jul 10, 2008 7:26pm
alright now dove in this scenario i'm short the UJ and EJ contemplating whether to set target at pivot or S1..momentum seems to be high cos we have 10 increments on the 2H
in your own case what's ur target
  • #10,644
  • Jul 10, 2008 7:32pm Jul 10, 2008 7:32pm
Quoting bristolxyz
Does anyone else see E/J and U/J as ripe for short? Looks like E/J is in a short trend..
The PDI/MDI finally crossed on U/J
why has it been lately, that for tokyo, everyone is short, my view is eu has room to go down, uj has 'some ' room, so i prefer ej, but it's not the most comfortable trade i've been in
  • #10,645
  • Jul 10, 2008 7:37pm Jul 10, 2008 7:37pm
Quoting cvarnado
I don't want numbers, I want thoughts. There is some good support around 106.90 though.

My two cents like anyone cares. Get away from your charts its slow right now. Go do something that you like doing come back when market is moving.
  • #10,646
  • Jul 10, 2008 7:39pm Jul 10, 2008 7:39pm
Quoting Clouds
why has it been lately, that for tokyo, everyone is short, my view is eu has room to go down, uj has 'some ' room, so i prefer ej, but it's not the most comfortable trade i've been in
I'm just looking at the indicators and trying to get in a good trade.
Seems to me that the Tokyo session, US economic fundamental data is interpreted completly diff.,

Just watching the indicators and going with the trend.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,647
  • Jul 10, 2008 7:41pm Jul 10, 2008 7:41pm
Quoting cvarnado
I don't want numbers, I want thoughts. There is some good support around 106.90 though.
That's what this thread is for. Sharing thoughts. You don't need ask. It's start moving soon.
Attached Image
  • #10,648
  • Jul 10, 2008 7:45pm Jul 10, 2008 7:45pm
http://fxtrade.oanda.com/tools/stati...ce_USD_JPY.png
http://fxtrade.oanda.com/tools/stati...ve_USD_JPY.png
  • #10,649
  • Jul 10, 2008 7:46pm Jul 10, 2008 7:46pm
http://fxtrade.oanda.com/tools/stati.../posratios.png
  • #10,650
  • Jul 10, 2008 7:49pm Jul 10, 2008 7:49pm
That explains everything
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,651
  • Jul 10, 2008 7:50pm Jul 10, 2008 7:50pm
Quoting bristolxyz
That explains everything
? I thought we could use some pretty graphs. Look at that back at 107.
  • #10,652
  • Jul 10, 2008 7:53pm Jul 10, 2008 7:53pm
Quoting cvarnado
http://fxtrade.oanda.com/tools/stati.../posratios.png
what does that mean exactly, are more people long or short on eur/jpy
  • #10,653
  • Jul 10, 2008 7:55pm Jul 10, 2008 7:55pm
e/j alot more short than long.
  • #10,654
  • Jul 10, 2008 7:57pm Jul 10, 2008 7:57pm
http://fxtrade.oanda.com/tools/stati...ce_EUR_JPY.png
http://fxtrade.oanda.com/tools/stati...ve_EUR_JPY.png
  • #10,655
  • Edited 8:14pm Jul 10, 2008 8:01pm | Edited 8:14pm
I agree with that, but next week there are major bank earnings reports, and if they go the wrong way and report worse that predicted earnings, that's the fundamental data that's going to wreck the USD/JPY.

I shorted EUR/JPY , entered at 168.86, it's now 169.02. My stop hit at 168.96, so I took a beating for 13 pips.
Every indicator indicated a downtrend, it never got more than 3 pips ahead before turing quickly.
PDI/MDI crossed
Bollinger band had 2 candles on lower band and was trending down and upper band opening up.
Slow_Stoch went from lingering above 80% line to falling below 80% line (finally)

If things go as usual, it will start to trend down again and go right past where I wanted it to go.

AM I SETTING MY STOPS TOO CLOSE?

I did ok today on USD/CAD, but not well enough to make up for loss here. Funny thing, my demo account is overflowing with money LOL. I guess I'm more careless with it and take more risks.

I need to do something different. POssibly trade more demo account..

Any opinions will be appreciated.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,656
  • Jul 10, 2008 8:05pm Jul 10, 2008 8:05pm
Quoting cvarnado
? I thought we could use some pretty graphs. Look at that back at 107.
I wasn't being sarcastic, I was saying that's good stuff

Long term, what do you think about short on U/J?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,657
  • Jul 10, 2008 8:08pm Jul 10, 2008 8:08pm
Quoting bristolxyz
I wasn't being sarcastic, I was saying that's good stuff

Long term, what do you think about short on U/J?
Long-term (for the next 6-8 months), I think bullish. Remember when it was 103-105 for a month or so, then jumped past 105. Now the new range is 108.4-105 for a month or so, we may stay in that range until it pops up to 111 or so then we have new range. That's just my view.
  • #10,658
  • Jul 10, 2008 8:12pm Jul 10, 2008 8:12pm
Quoting bristolxyz
I wasn't being sarcastic, I was saying that's good stuff

Long term, what do you think about short on U/J?
Well I am not shorting against my trend line right now.
  • #10,659
  • Jul 10, 2008 8:22pm Jul 10, 2008 8:22pm
Quoting bristolxyz
I agree with that, but next week there are major bank earnings reports, and if they go the wrong way and report worse that predicted earnings, that's the fundamental data that's going to wreck the USD/JPY.

I shorted EUR/JPY , entered at 168.86, it's now 169.02. My stop hit at 168.96, so I took a beating for 13 pips.
Every indicator indicated a downtrend, it never got more than 3 pips ahead before turing quickly.
PDI/MDI crossed
Bollinger band had 2 candles on lower band and was trending down and upper band opening up.
Slow_Stoch went from lingering above 80% line to falling below 80% line (finally)

If things go as usual, it will start to trend down again and go right past where I wanted it to go.

AM I SETTING MY STOPS TOO CLOSE?

I did ok today on USD/CAD, but not well enough to make up for loss here. Funny thing, my demo account is overflowing with money LOL. I guess I'm more careless with it and take more risks.

I need to do something different. POssibly trade more demo account..

Any opinions will be appreciated.


Yes your stops are way to close. 13 pips how do you give a trade anytime to breath at that rate. 13 pips is noise nothing more. If you entered at 168.86 your stop should be above 169.40 to give the trade time to play out. You have the right direction just to tight of stop
  • #10,660
  • Jul 10, 2008 8:26pm Jul 10, 2008 8:26pm
June 26th on the e/j or around that time on your four hour chart the e/j made a high of 169.45. If you are going to short it at 168.86 your stop should be above the high. Not right on it either to easy for it to shoot up a bit past then drop. 20-30 pips above that area is where you need to be. You are using to short of timeframes to enter your trades. Look at the four hour on the 26th of June. when I enter this short i will have my stops above that area. Then I will follow the number one rule in trading let profits ride. Will be looking for at least 150 pips on downturn.
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