EUR/JPY | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, EUR/JPY, GBP/USD

Similar Threads

long eur/jpy, gbp/jpy, usd/jpy 11 replies

.SI4 for GBP/JPY & EUR/JPY 403 replies

eur/usd, eur/jpy, usd/jpy average 0 replies

Does the gbp/jpy eur/jpy follow the DOW? 8 replies

Correlations- USD>JPY-DOW, EUR/JPY Follows etc 12 replies

Attachments: EUR/JPY
Exit Attachments

EUR/JPY

  • #141
  • Oct 21, 2008 9:27am Oct 21, 2008 9:27am
Quoting hard1head1
500 Pips in 2 days.

For the newbys out there. This is the fist thing you learn when you first get into forex trading. Trendlines, Period. Just to show you how a trendline trade works. We got the bounce off of the Major DTL on the 20th that showed a nice Bearish Pin, ( Evening Star ) on the 4 Hr. You enter on the close of the pin, ( Green Line ), You place the stop above the pin, ( Red Line ), a modest 100 pips or so and let her rip. The pair came to the first UTL , broke thru and then tested the backside, ( X ). Then it bounced off that trendline and this morning broke the 2nd UTL and tested the back of that one, ( 2nd X ) and continued on down to where we could be looking at a classic Double Bottom. 500 pips and all you had to do is move your stop down. This is what they teach you in Forex 101. You dont always need indicators, sometmes trendlines its all it takes.Jim
I trade by that way now. Simple clean and clear chart. ONLY TL & CHANNEL & CANDLESTICK. Trade only breakout. The result seems like good
  • #142
  • Oct 21, 2008 11:55am Oct 21, 2008 11:55am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting hard1head1
500 Pips in 2 days.

For the newbys out there... ...You dont always need indicators, sometmes trendlines its all it takes.

Jim
Jim, thank you for that little guide through TLs... most insightful... I follow a few pairs, but EJ is the one I follow more-so than others... this thread is very interesting... really appreciate the explanation.


Magnus
  • #143
  • Oct 21, 2008 8:08pm Oct 21, 2008 8:08pm
Hey Guys,

Time to be careful, this thing is getting very close to the Monthly 50 % Fib level pulled from that long move up from October of 2000, ( 129.36 ).
Attached Image (click to enlarge)
Click to Enlarge Name: ejmnth.gif Size: 18 KB
  • #144
  • Oct 21, 2008 10:52pm Oct 21, 2008 10:52pm
Quoting hard1head1
Hey Guys,

Time to be careful, this thing is getting very close to the Monthly 50 % Fib level pulled from that long move up from October of 2000, ( 129.36 ).

http://www.forexfactory.com/attachme...1&d=1224637698
We just broke the level..see if we can hold ..or any kind of bounce..

Sonic
  • #145
  • Oct 21, 2008 11:49pm Oct 21, 2008 11:49pm
My contrarian approach does I think it just bounced off your 50 fib as I post.
Attached Image (click to enlarge)
Click to Enlarge Name: id102208short.gif Size: 26 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #146
  • Oct 22, 2008 12:07am Oct 22, 2008 12:07am
We could see a retrace to around 128.82 area, ( S1 ) Maybe more
  • #147
  • Oct 22, 2008 12:10am Oct 22, 2008 12:10am
I have another support level at 126.60-80 area. You got to remember, when I am looking at the Monthly only for direction. A couple hundred pips either way means nothing to the Monthly time frame.

Quoting FXCapitalist
My contrarian approach does I think it just bounced off your 50 fib as I post.
  • #148
  • Oct 22, 2008 12:33am Oct 22, 2008 12:33am
I am clear from any postion at this moment....

I guess..we gona swing back to 127 as the double bottom....


Sonic
  • #149
  • Oct 22, 2008 12:39am Oct 22, 2008 12:39am
I'm reading along and soaking it in. Good charts and analysis
  • #150
  • Oct 22, 2008 12:42am Oct 22, 2008 12:42am
Took some off the table it worked out after all. It's all about how much pain one can take I took quite a bit at 128.45

It paid off
Attached Image(s) (click to enlarge)
Click to Enlarge Name: iprofitlog.gif Size: 4 KB
Click to Enlarge Name: id102208short2.gif Size: 18 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #151
  • Oct 22, 2008 12:49am Oct 22, 2008 12:49am
Who knows S3 might become a target today I wouldn't take it out of the equation...It might be a long shot at 123.07 if it does this has to be one of the mose horrific declines for EJ in a 24hr period. I would expect NY to open in the red tomorrow.
"Diversification is an excuse for a lack of talent" ~FXC
  • #152
  • Oct 22, 2008 1:00am Oct 22, 2008 1:00am
I'm short biased I'm gonna build a massive position off this if anything. More updates as she goes. I'll short around 128.6X if she tries.
Attached Image (click to enlarge)
Click to Enlarge Name: id102208short3.gif Size: 26 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #153
  • Oct 22, 2008 1:07am Oct 22, 2008 1:07am
Added another.
Attached Image (click to enlarge)
Click to Enlarge Name: id102208short4.gif Size: 18 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #154
  • Oct 22, 2008 1:22am Oct 22, 2008 1:22am
Building another position because if I kept building from my previous one my margins wouldn't allow it and I'll be margin called out. More updates once again later.
Attached Image (click to enlarge)
Click to Enlarge Name: iprofitlog.gif Size: 5 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #155
  • Oct 22, 2008 1:37am Oct 22, 2008 1:37am
Darn it, what a day to be out and away from my 'puter.... http://www.forexfactory.com/images/icons/icon8.gif

The big drop was caused by the expectations / rumours that the ECB and BOE will both have to cut rates very soon due to the deteriorating economic situation in Europe and the UK. The yen also strengthened, exacerbating the fall.

Watch out that this is not a "Sell the Rumour, Buy the News" type of move.

Ah well, back to the boatyard for another day of hard work - good luck to you all......
Trading Levels with WRBs
  • #156
  • Oct 22, 2008 1:44am Oct 22, 2008 1:44am
Quoting Islander
Darn it, what a day to be out and away from my 'puter.... http://www.forexfactory.com/images/icons/icon8.gif

The big drop was caused by the expectations / rumours that the ECB and BOE will both have to cut rates very soon due to the deteriorating economic situation in Europe and the UK. The yen also strengthened, exacerbating the fall.

Watch out that this is not a \"Sell the Rumour, Buy the News\" type of move.

Ah well, back to the boatyard for another day of hard work - good luck to you all......
128.39 seem a nice double top hold in 5M TF...see if it can hold against upswing..

Any one LONG or SHORT??
I am clean but definitely no game for long right now....

Sonic
  • #157
  • Oct 22, 2008 1:47am Oct 22, 2008 1:47am
Aye on being short
"Diversification is an excuse for a lack of talent" ~FXC
  • #158
  • Oct 22, 2008 1:56am Oct 22, 2008 1:56am
Quoting Islander
Darn it, what a day to be out and away from my 'puter.... http://www.forexfactory.com/images/icons/icon8.gif

The big drop was caused by the expectations / rumours that the ECB and BOE will both have to cut rates very soon due to the deteriorating economic situation in Europe and the UK. ..
When will be the nex meeting of theirs for t anouncement??

Sonic
  • #159
  • Oct 22, 2008 1:58am Oct 22, 2008 1:58am
Here's the new short I built up. Long term wise Still short biased.
Attached Image (click to enlarge)
Click to Enlarge Name: id102208short5.gif Size: 29 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #160
  • Oct 22, 2008 2:18am Oct 22, 2008 2:18am
Quoting FXCapitalist
Here's the new short I built up. Long term wise Still short biased.
What is ur SL??
Am still waiting... we are seeing HH and HL..will wait til we see LH...


Sonic
1 trader viewing now