PA penetrated both of the channel's lower extensions (1.382 and 1.618) from the up movement from March. I've updated my channels to show a down trend channel has formed.
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Attached Image (click to enlarge)
- #10,822
- Jul 15, 2008 9:30pm Jul 15, 2008 9:30pm
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #10,823
- Jul 15, 2008 10:53pm Jul 15, 2008 10:53pm
ak4x,
It sounds you wanted to say that you were not the one who was on the wrong side of the market which I think it was. That is fine. If you did not get hurt from this USD fall, I would say, good for you, really. You don't need to be too diffensive againt my observation. My observation is just an observation in response to someone's message, which was not directed to you, unless you were actually on the wrong side of the market. That is nothing more.
As for the position, of course, I take both long and short positions as I am a swing trader. I was going long when USD/JPY was headling toward 200SMA. Anyway, I was only talking about the price move of USD for the past several days, expecially since it clearly failed to hold above 200SMA. That is my rule, if a price failed to hold above a descending 200SMA, I go short. That is all. I booked a profit for my short position at 104.98 yesterday from that level. I'm not holding any position right now.
If you didn't like some wording ("turned out be wrong") that I put, why not just including my name in your "Ignore" list? Now I see you have a long position, which I don't care. Although I hold no positions at the moment, I am looking for a short entry based on the fundamentals.
By the way, don't expect me to write a perfect English. I am not a native speaker of English.
Good luck to you.
It sounds you wanted to say that you were not the one who was on the wrong side of the market which I think it was. That is fine. If you did not get hurt from this USD fall, I would say, good for you, really. You don't need to be too diffensive againt my observation. My observation is just an observation in response to someone's message, which was not directed to you, unless you were actually on the wrong side of the market. That is nothing more.
As for the position, of course, I take both long and short positions as I am a swing trader. I was going long when USD/JPY was headling toward 200SMA. Anyway, I was only talking about the price move of USD for the past several days, expecially since it clearly failed to hold above 200SMA. That is my rule, if a price failed to hold above a descending 200SMA, I go short. That is all. I booked a profit for my short position at 104.98 yesterday from that level. I'm not holding any position right now.
If you didn't like some wording ("turned out be wrong") that I put, why not just including my name in your "Ignore" list? Now I see you have a long position, which I don't care. Although I hold no positions at the moment, I am looking for a short entry based on the fundamentals.
By the way, don't expect me to write a perfect English. I am not a native speaker of English.
Good luck to you.
I'm sure you meant "where" is everybody, but no worries. "You" guys must not have a platform that allows you to BUY when it's going up. Mine allows me to both SELL when it goes down and BUY when it goes up. It's really kinda cool when you can do both.
Are "you" guys trying to tell me you haven't taken a long trade since the low back in March becuz it's STILL GOING DOWN.??
Hurt?? Not hardly, rode it most all of the way down last night, and plan to ride it back up whenever that is. And anyway, ever hear of intraday trading, stop losses, that kind of thing?? Geez, I might go both long and short on the same day, and MAYBE even at the same time!!!
Active? If I'm not here (which it actually appears that I am...), speaking for myself only, it might be cuz I 'm on a more intelligent thread that has traders on it, not people who look at anyone with a current bias different from theirs as "those" people. Some of "those" people might also have just gotten tired of reading ENDLESS news release and conspiracy theory posts by the yard by "you" people.
I also find I have to use my IGNORE button too much on this thread. Gets tedious.
But hey, good luck with them shorts. Get em while you can. I plan to. They're great buying ops for swap... OOOPS, I forgot, you're one of "those" people that can only trade when it's going down. Or did I miss something?
And I'm still trying to figure out how price going down for a day or 5 somehow supports your statement that "their" (you know... "those" people again) expectations turned out to be wrong..."
Enjoy your thread. Won't be the first time this one has died. Someone should fib the activity and viewer level of this thread since it started, minus all the news posts of course. Hint: correlation to a certain very helpful trader...
- #10,832
- Jul 16, 2008 4:32am Jul 16, 2008 4:32am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #10,833
- Jul 16, 2008 4:49am Jul 16, 2008 4:49am
We should all be helping each other and whether USD/JPY goes to 110.00 or 100.00, that is not the point. The point for all traders including myself is be aware of your Ego since not one of US knows anything for sure. That is why Stops and other methods are needed to protect you against your Ego.
Good Trading To All Of Us !
Bruce
- #10,834
- Jul 16, 2008 6:20am Jul 16, 2008 6:20am
Possibly. Or it may bounce before it gets to, as R3 is 102.90.
Remember...Bernanke will speak in NY time, and crude oil inventories report will be released.
Good luck.
Remember...Bernanke will speak in NY time, and crude oil inventories report will be released.
Good luck.
we might be going to the strong resistance at 102.70
- #10,835
- Jul 16, 2008 6:35am Jul 16, 2008 6:35am
It would be interesting to note that USD/JPY touched Monthly S1, 103.78 and went back up a little bit before it got to S2, 103.71.
If you are going short, don't be surprised unless you are a scalper who is intending to take a quick profit. It will come back down later to test S2 once it is rejected by a strong resistance along the way.
If you are going short, don't be surprised unless you are a scalper who is intending to take a quick profit. It will come back down later to test S2 once it is rejected by a strong resistance along the way.
- #10,836
- Jul 16, 2008 6:35am Jul 16, 2008 6:35am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #10,837
- Jul 16, 2008 6:44am Jul 16, 2008 6:44am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #10,838
- Jul 16, 2008 9:16am Jul 16, 2008 9:16am
Help guys....anyone...
which oone of the following indicators are the best for RP and the SP...
which oone of the following indicators are the best for RP and the SP...
pip and run ....
