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  • #2,341
  • Aug 6, 2008 8:52am Aug 6, 2008 8:52am
Quoting seesaw
I see USD/ JPY going much higher after taking our the resistance level. Not today maybe, but soon.
Sorry to hear that .. I've just gone short @ 109.10 !

Looking at the strength of the move up, I think you may well be right.

Meanwhile I'm gonna manage my USD/JPY shortly carefully ....
  • #2,342
  • Aug 6, 2008 8:52am Aug 6, 2008 8:52am
Quoting loudoniii
Skyline - Great, thanks for the input. Cheers, Loudoniii
You're welcome but keep my advise carefull since I'm still learning here

Happy pips

Skyline
  • #2,343
  • Aug 6, 2008 8:54am Aug 6, 2008 8:54am
Stopped out on gbp/jpy 212.72 -65. I should have grabbed some pips at +40 and set stop on the rest at break even, like I usually do. Did not follow my gameplan, and let this thing bite me

Like Stevehutts said there was good support on the rising trendline on daily
  • #2,344
  • Aug 6, 2008 8:59am Aug 6, 2008 8:59am
Textbook breakout on usd/jpy. I wonder if 50% fib at 109.92 on monthly holds.

I never play breakouts or breakdowns. I like to wait till they are confirmed
  • #2,345
  • Aug 6, 2008 9:03am Aug 6, 2008 9:03am
Quoting len979
Stopped out on gbp/jpy 212.72 -65. I should have grabbed some pips at +40 and set stop on the rest at break even, like I usually do. Did not follow my gameplan, and let this thing bite me

Like Stevehutts said there was good support on the rising trendline on daily
Thats what i said... Dont go short Tue-Wed.
I have burnt my hands in past...
  • #2,346
  • Aug 6, 2008 9:09am Aug 6, 2008 9:09am
Quoting ffbk
Thats what i said... Dont go short Tue-Wed.
I have burnt my hands in past...
I remember you saying it last night. I've learnt my lesson.

The next resistance I see on gbp/jpy is 213.80
  • #2,347
  • Aug 6, 2008 9:17am Aug 6, 2008 9:17am
Quoting len979
I remember you saying it last night. I've learnt my lesson.

The next resistance I see on gbp/jpy is 213.80
Dear frenz, Not to go short on which pairs on TUE - WED...?
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #2,348
  • Aug 6, 2008 9:22am Aug 6, 2008 9:22am
I have a feeling aud/usd is going to stall for days before it tests 0.9000.... basically stay around the 0.9050 level for days then move down to 0.9000 or slightly below and keep bouncing off that level for days.

I think there's very strong support at that level. You just have to be patient.
  • #2,349
  • Aug 6, 2008 9:22am Aug 6, 2008 9:22am
Quoting BillyRayValentine
Short USD/CAD 1.0460-70

This is a pretty big level. I actually think this is a repost but as we get closer to these highs it becomes more and more of a reality. If 1.0379/8 gets broken through its only a handful of pips away at that point. Here's the chart:
Just wanted to say that we got a bite on this one today with CAD making at high at 1.0476 - so far just started and I'll keep you guys posted only up a few pips on it right now.
  • #2,350
  • Aug 6, 2008 9:26am Aug 6, 2008 9:26am
Quoting sivaji
Dear frenz, Not to go short on which pairs on TUE - WED...?
this should be in reference to the positive carry trade pairs (UJ, GJ et al), since Wed 5pm is triple interest rollover.
  • #2,351
  • Aug 6, 2008 9:31am Aug 6, 2008 9:31am
Long gbp/usd 1.9511 .... small position.
I'll add more at 1.9425. I bought off of that rising trendline on daily. I see good support at 1.9420 area.
  • #2,352
  • Aug 6, 2008 9:35am Aug 6, 2008 9:35am
Quoting BillyRayValentine
Just wanted to say that we got a bite on this one today with CAD making at high at 1.0476 - so far just started and I'll keep you guys posted only up a few pips on it right now.
Nice trade BRV. You can actually trade this one with a fairly tight stop. Are you planning to exit at 1.0380?
  • #2,353
  • Aug 6, 2008 9:38am Aug 6, 2008 9:38am
Quoting len979
I have a feeling aud/usd is going to stall for days before it tests 0.9000.... basically stay around the 0.9050 level for days then move down to 0.9000 or slightly below and keep bouncing off that level for days.

I think there's very strong support at that level. You just have to be patient.

That's what I like to hear
  • #2,354
  • Aug 6, 2008 9:39am Aug 6, 2008 9:39am
Quoting loudoniii
Sorry to hear that .. I've just gone short @ 109.10 !

Looking at the strength of the move up, I think you may well be right.

Meanwhile I'm gonna manage my USD/JPY shortly carefully ....

I could be wrong! I just don't bet against the USD when its in bull mode. I wait for confirmation.
  • #2,355
  • Edited 9:51am Aug 6, 2008 9:40am | Edited 9:51am
Quoting len979
Long gbp/usd 1.9511 .... small position.
I'll add more at 1.9425. I bought off of that rising trendline on daily. I see good support at 1.9420 area.
I forgot to add.... I hope no one goes into this trade with me as it's a risky trade. That trendline might or might not hold
  • #2,356
  • Aug 6, 2008 9:45am Aug 6, 2008 9:45am
Quoting len979
I forgot to add.... I hope no one goes into this trade with me as it's a risky trade.
len - if i may ask, what would your SL be for such a position. Slightly below the day low of 1.987?
  • #2,357
  • Aug 6, 2008 9:47am Aug 6, 2008 9:47am
Quoting sojournerr
this should be in reference to the positive carry trade pairs (UJ, GJ et al), since Wed 5pm is triple interest rollover.
Thank 4 the info...
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #2,358
  • Aug 6, 2008 9:51am Aug 6, 2008 9:51am
Quoting seesaw
I could be wrong! I just don't bet against the USD when its in bull mode. I wait for confirmation.
Seesaw - Thought you'd like to know that I successfully got out of my USD/JPY short @ 109.10 with 1 masterful PIP of profit !

Having read your advice after I'd already gone short, and looked back at the huge blue candle on the way up, I reckon I'm lucky to have made any profit on it all.

Similar story with my USD/CHF short @ 1.0585, on which I scraped a quick 8-PIP profit before getting out with a great sense of relief.

Tuesdays and Wednesdays from now on I'l take the good advice from you / Sojournerr / FFBK / Len / etc and remember not to stand in front of an express train - thanks to you all !
  • #2,359
  • Aug 6, 2008 9:57am Aug 6, 2008 9:57am
anyone long on the gbp/jpy? seems to be sitting on support at 21290, next resistance 21380
  • #2,360
  • Aug 6, 2008 10:04am Aug 6, 2008 10:04am
Quoting Tulip
anyone long on the gbp/jpy? seems to be sitting on support at 21290, next resistance 21380
I'm mixed with this pair.. it seems like she can come down just as easily as she can go up. With triple interest though I'm more inclined to buy... but... i dunno something is telling me not too.

edit: and the divergence on the daily charts too. just be careful
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