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USD/JPY Discussion

  • #11,121
  • Aug 6, 2008 4:52am Aug 6, 2008 4:52am
Quoting SpiderSystem
Yep, im out, probably will break 108.61 R
and touched!
Thats the place to enter a short and scalpe some pips
Buying Tops, Selling dips xP
  • #11,122
  • Aug 6, 2008 5:06am Aug 6, 2008 5:06am
short ?
  • #11,123
  • Aug 6, 2008 5:14am Aug 6, 2008 5:14am
it may retest resistence, short from highs, with stop loss of course.
Buying Tops, Selling dips xP
  • #11,124
  • Aug 6, 2008 5:22am Aug 6, 2008 5:22am
Quoting Empyrium
and touched!
Thats the place to enter a short and scalpe some pips
Touché but now can go to 108.90/109 and there maybe i'll go short. Be careful scalping with forex.
  • #11,125
  • Aug 6, 2008 5:38am Aug 6, 2008 5:38am
Quoting tma_21
whats ur target bro?
staggered TPs as I always stack up positions, first TP 105, last 101

I am also eyeing this possible diamond top on the EUR/Yen for some time now. I regard E.Y as one of the surest long term buys. I do expect large downswings of course, but overall this pair still has thousands of pips upwards potential IMO.

Were this diamond top to break, it'd target 162-160, which is the zone I expected this pair to return to, after its breakout. I have exited some of my E/Ylongs and will seek to re buy lower

http://img387.imageshack.us/img387/4203/eydbltopbl9.jpg
  • #11,126
  • Aug 6, 2008 8:14am Aug 6, 2008 8:14am
h1 closing as it is, TL is broken
Daily R2 108.87...
Buying Tops, Selling dips xP
  • #11,127
  • Aug 6, 2008 8:38am Aug 6, 2008 8:38am
Quoting Empyrium
News here. Fundamentals are not good to japan and technically...this pair is bullish and we may see 109 this week. I might be wrong though...
Hello 109!
Buying Tops, Selling dips xP
  • #11,128
  • Aug 6, 2008 8:50am Aug 6, 2008 8:50am
now we have short ?
  • #11,129
  • Aug 6, 2008 8:51am Aug 6, 2008 8:51am
No at the moment, now we have 109.50 as a R. Trend is very high right now, we need price calm down.
  • #11,130
  • Aug 6, 2008 8:53am Aug 6, 2008 8:53am
ok, 109.50 down and we see 108 ? its the "big" short?
  • #11,131
  • Aug 6, 2008 9:00am Aug 6, 2008 9:00am
Remember there is news coming out. If you get a move up like this ahead of news, it's best to wait. It's best to wait period ahead of news. After that, we can look for a place to short.
  • #11,132
  • Aug 6, 2008 9:03am Aug 6, 2008 9:03am
Yep, is better to wait the news, maybe it can give up the price to 109.50, now the price should go down a few pips and with news go up and down fastly, lets see.
  • #11,133
  • Aug 6, 2008 10:40am Aug 6, 2008 10:40am
I posted when I sensed that this would break out this morning pacific time. indeed, it did. once it breaks out, you should give some time to form another setup.

obviously don't think to short. THINK TO BUY! Where?
It will set it up. I will post an example to share thoughts with you guys when I have time.

When when you do scapling, the bar setups are very important. it's simple, but not many people know or share this technique on this board.
  • #11,134
  • Aug 6, 2008 10:43am Aug 6, 2008 10:43am
I think in short because is very overbought, anyways, no short yet, probably this week the pair will be bullish, lets see next week or friday.
  • #11,135
  • Aug 6, 2008 10:48am Aug 6, 2008 10:48am
UJ has broken past the year high. Got my pending long filled at 108.55 today, still holding. Hopefully those waiting to short have to wait a while more
  • #11,136
  • Aug 6, 2008 11:57am Aug 6, 2008 11:57am
Quoting sojournerr
UJ has broken past the year high. Got my pending long filled at 108.55 today, still holding. Hopefully those waiting to short have to wait a while more
Still holding my shorts.. feel like throwing in the towel.. crazy dollar!
  • #11,137
  • Aug 6, 2008 12:00pm Aug 6, 2008 12:00pm
Finally closed my long @ 109.40 ...was long from 103.85
  • #11,138
  • Aug 6, 2008 1:46pm Aug 6, 2008 1:46pm
I really hated to see you guy loose on your short trades...... But I have been at it for a lot of years and when I said it was going up I had a lot of you laughing at me because I had the indicators verifying the reason why..... Well anyway.... Like I said; I am sorry and I am not laughing because it is not fun to loose your money....

Take care and God bless,
The Dove - Forex Trainer
  • #11,139
  • Aug 6, 2008 1:48pm Aug 6, 2008 1:48pm
109.6 is Monthly R1, any ideas when would be a good time to buy?
  • #11,140
  • Aug 6, 2008 1:56pm Aug 6, 2008 1:56pm
Quoting Clouds
109.6 is Monthly R1, any ideas when would be a good time to buy?

we may not see any good buy positions ..but there is still chance of buying around 106/107 if dollar fell down without looking back.
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