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Attachments: Daily EUR/JPY analysis
Exit Attachments

Daily EUR/JPY analysis

IF You think these pairs don't respect the 89 SMA, check this out.
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WORSENING SITUATION Japanese Banks

Following the problems in the sub-prime lending market in America and the collapse of Lehman Brothers, uncertainty has now hit Japan.

In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.

Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were
suspended after they nose-dived..

While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.

Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
is this tread as active as EU and Cable?
Wow, this is like GBP/JPY!

Quoting sonicdeejay
EUR/JPY 200 pips in 5mins....

Sonic
"People sometimes mistake luck with skill"
EJ
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GAP--AGE!
Looks like we are getting a perfect gap to trade when the brokers open
was really learning from these posts and hoped that it would continue.
for how long of time all of you think,euro being so weak ?
EJ weekly candle
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I was looking for this i guess it was buried because it had no rating, Ill stick to my own however.
"Diversification is an excuse for a lack of talent" ~FXC
  • #1,832
  • Quote
  • Oct 20, 2008 11:17pm Oct 20, 2008 11:17pm
FX is good.GJ will going to 173.70
  • #1,833
  • Quote
  • Edited 9:43pm Oct 23, 2008 9:14pm | Edited 9:43pm
There's ninja trader and Oanda that have 30 second charts so choose which one, I use ninja trader.

Indicators: Heiken Ashi ONLY

Entry short: Highest up bar close is 4 pips higher then the down bar.

Entry long: Lowest down bar close is 4 pips from current up bar.

Look at chart to identify sideways trend. Sideways trends usually end after 6 bars of going in the same direction.

Only trade EURJPY on Tokyo Open, its 5 PM pst, so convert it to your timezone and you will know when it is.

PS: the trade closed at 125.00 was 18 pips, not 41.
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  • #1,834
  • Quote
  • Oct 24, 2008 12:04am Oct 24, 2008 12:04am
Hi,
thx for sharing.

Whats your exit rule?

Do you just wait for an opposing signal and reverse?
Quoting Dan S
Hi,
thx for sharing.

Whats your exit rule?

Do you just wait for an opposing signal and reverse?
Yes.
Can you please explain your rules a little more clearly? What do you mean the highest up bar close is 4 pips higher than the down bar? And do you always wait 6 candles to enter?

Quoting Code4Capital
There's ninja trader and Oanda that have 30 second charts so choose which one, I use ninja trader.

Indicators: Heiken Ashi ONLY

Entry short: Highest up bar close is 4 pips higher then the down bar.

Entry long: Lowest down bar close is 4 pips from current up bar.

Look at chart to identify sideways trend. Sideways trends usually end after 6 bars of going in the same direction.

Only trade EURJPY on Tokyo Open, its 5 PM pst, so convert it to your timezone and you will know when it is.

PS: the trade closed at 125.00 was 18 pips, not 41.
Quoting Dreamliner
Can you please explain your rules a little more clearly? What do you mean the highest up bar close is 4 pips higher than the down bar? And do you always wait 6 candles to enter?
30 second bars open on the next tick, so say the close on the last one was 127.28 well then it say waits like 10 seconds and then it ticks down to 127.26 then goes up to 127.27 and closes, then it starts going down from there well use the bar that closed at 127.28 rather than the 127.27.

The 6 bars is to confirm trending, this method could be really damaging on your account on a sideways trend.
  • #1,838
  • Quote
  • Oct 26, 2008 11:14pm Oct 26, 2008 11:14pm
Today was very volatile so I kinda broke some of the rules here and there, but I got 210 pips, there was a 8 pip spread.

http://img291.imageshack.us/img291/5...jpy1026po6.jpg
  • #1,839
  • Quote
  • Oct 26, 2008 11:44pm Oct 26, 2008 11:44pm
maybe u should try making EA for this since ur nick is code4capital
  • #1,840
  • Quote
  • Oct 27, 2008 12:39am Oct 27, 2008 12:39am
Quoting j84_2
maybe u should try making EA for this since ur nick is code4capital
Theres only 1 choice for this and its Ninja Trader, because as you can see, I'm trading 30 seconds, MT4 doesn't have a 30 second TF.

Few problems with Ninja Trader:

The most important one being, I don't use it for live trading because it is $1495 and basically Gain is the only broker, therefore their spread is as low as 2.3 pips, not average. Most Micro Accounts can't get as low as 2.3 pips during Tokyo open, I'm using FXCM Micro right atm and they have a hard time keep their low spread... just imagine others.
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