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Daily EUR/JPY analysis

  • #1,601
  • Aug 21, 2008 5:11am Aug 21, 2008 5:11am
http://www.forexfactory.com/showpost.php?p...0&postcount=148
Reached the multiple suport resistance zone. I waiting for long agian.
  • #1,602
  • Aug 21, 2008 5:23am Aug 21, 2008 5:23am
Quoting robrub
but this is boring i would like this s to bounce up
if you want to make money in forex, there is only one simple way.. follow the trend, never try to go against it.. the trend can last even for 500 pips.. so why don't you ride it?
  • #1,603
  • Aug 21, 2008 5:28am Aug 21, 2008 5:28am
i guess we will bounce between 159.50 to 160 according to the weekly trend
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  • #1,604
  • Aug 21, 2008 5:36am Aug 21, 2008 5:36am
Quoting msniper
i guess we will bounce between 159.50 to 160 according to the weekly trend
Why yen suddenly so strong?
  • #1,605
  • Aug 21, 2008 5:42am Aug 21, 2008 5:42am
Quoting msniper
i guess we will bounce between 159.50 to 160 according to the weekly trend
Agree on that, for me, the S/R zone is from 158 - 160 area
  • #1,606
  • Aug 21, 2008 5:48am Aug 21, 2008 5:48am
Quoting gagakrimba
Why yen suddenly so strong?
if you had some trading experience you would noticed that all forex big movements happen so suddenly and unexpectedly, nobody will warn you beforehand.. this is how professional traders make money, by taking the money of novice traders who took opposite position. According to statistics 95% of novice traders lose all their money in a few days after going live.. I would say 98% to be more accurate.

In fact if you see the 15 minute chart on Asian open , you will notice that price tried to break up and failed, from 2.30 GMT till 5 we had bearish 15 minutes charts.. the same happened yesterday exactly.. price will break at one direction soon or later, and broke down as it was supposed to.
  • #1,607
  • Aug 21, 2008 6:25am Aug 21, 2008 6:25am
this is very annoying
Don't Blame Yourself This Is Forex...
  • #1,608
  • Aug 21, 2008 6:29am Aug 21, 2008 6:29am
Quoting forexguru
if you had some trading experience you would noticed that all forex big movements happen so suddenly and unexpectedly, nobody will warn you beforehand.. this is how professional traders make money, by taking the money of novice traders who took opposite position. According to statistics 95% of novice traders lose all their money in a few days after going live.. I would say 98% to be more accurate.

In fact if you see the 15 minute chart on Asian open , you will notice that price tried to break up and failed, from 2.30 GMT till 5 we had bearish 15 minutes charts.. the same happened yesterday exactly.. price will break at one direction soon or later, and broke down as it was supposed to.
Nice insight indeed!!

sonic
  • #1,609
  • Aug 21, 2008 6:48am Aug 21, 2008 6:48am
im still buying this pair
and other jpy crosess
  • #1,610
  • Aug 21, 2008 7:12am Aug 21, 2008 7:12am
Quoting sonicdeejay
Nice insight indeed!!

sonic
thanks, I bet many novice traders buy now eur/yen... this was just a retracement and price most chances down again.
  • #1,611
  • Aug 21, 2008 7:36am Aug 21, 2008 7:36am
super

Quoting sonicdeejay
Nice insight indeed!!

sonic
  • #1,612
  • Aug 21, 2008 8:26am Aug 21, 2008 8:26am
Quoting forexguru
thanks, I bet many novice traders buy now eur/yen... this was just a retracement and price most chances down again.
lol, this is forex, you cant be hundred percent sure that the uptrend is a mere correction, or a reversal trend, no matter your experience in forex, you can only react to what your chart is telling you,nothing more.many a time we have seen price changed direction like this and never looks back,that exactly is what makes forex what it is.

you should therefore learn to teach novice traders rather than discourage them, no one is perfect in forex.
  • #1,613
  • Aug 21, 2008 8:29am Aug 21, 2008 8:29am
I think its going up a little til 161,2 up maybe to 161,64 othersiwise it will consolidate and down to 160 level.
Let s see what happens with Monetary Policy Meeting Minutes datas and tomorrow morning datas.

I am in hedging improving my account but i am in a trouble cos i have almost the same number of opens longs and shorts.

Do you have some material about how to manager an account in hedging like this to get it out with some profits? Is there any strategies that i should know about it?

I will appreciate your feedback guys.
  • #1,614
  • Aug 21, 2008 8:32am Aug 21, 2008 8:32am
oh yes
Quoting remmy007
lol, this is forex, you cant be hundred percent sure that the uptrend is a mere correction, or a reversal trend, no matter your experience in forex, you can only react to what your chart is telling you,nothing more.many a time we have seen price changed direction like this and never looks back,that exactly is what makes forex what it is.

you should therefore learn to teach novice traders rather than discourage them, no one is perfect in forex.
  • #1,615
  • Aug 21, 2008 9:48am Aug 21, 2008 9:48am
poweredbuyer


Whats ur view
i just noticed reversal on yen crosses today,(bought aj for interest)
165 still valid right ?
anyway i am still aminig that level with my ej longs basket.next week or week after
  • #1,616
  • Aug 21, 2008 10:00am Aug 21, 2008 10:00am
Quoting 5ysfx
poweredbuyer


Whats ur view
i just noticed reversal on yen crosses today,(bought aj for interest)
165 still valid right ?
anyway i am still aminig that level with my ej longs basket.next week or week after
FOr me, if it does reach the bottom of the channel and bounces back, so 165 is definitely posible for me.
  • #1,617
  • Aug 21, 2008 5:32pm Aug 21, 2008 5:32pm
am long since 160.72 ... anyone else long ?
Don't Blame Yourself This Is Forex...
  • #1,618
  • Aug 21, 2008 5:38pm Aug 21, 2008 5:38pm
Quoting PipsFinder
am long since 160.72 ... anyone else long ?
my 1st long hit s/l..im holding my 2nd entry at 161.60..
  • #1,619
  • Aug 21, 2008 6:23pm Aug 21, 2008 6:23pm
Quoting forexguru
thanks, I bet many novice traders buy now eur/yen... this was just a retracement and price most chances down again.
How sure are you about this?
Chart only tells you what has happened earlier.
  • #1,620
  • Aug 21, 2008 8:11pm Aug 21, 2008 8:11pm
Don't Blame Yourself This Is Forex...
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