What are your opinion on EURJPY?
Anyone agreeing that this pair is about to go down again?
Anyone agreeing that this pair is about to go down again?
- #184
- Feb 14, 2007 5:38pm Feb 14, 2007 5:38pm
Spreads are low enough that hedging wouldn't appear to be that big of a deal. If you still like your eur/jpy short I would hedge that one and set a SL on usd/jpy just in case there is some large spiking (which is doubtful). Would you be willing to close USD/JPY with the current profit?
As for Japanese news, it doesn't cause much movement most of the time. Although some events are getting a little more volatile.
If I were holding your positions I would let USD/JPY run and hedge EUR/JPY.
Good trading.
Nice USD/JPY short.
As for Japanese news, it doesn't cause much movement most of the time. Although some events are getting a little more volatile.
If I were holding your positions I would let USD/JPY run and hedge EUR/JPY.
Good trading.
Nice USD/JPY short.
The market is my nation. Traders, my family. Hello, brothers and sisters!
- #186
- Feb 14, 2007 6:00pm Feb 14, 2007 6:00pm
- | Joined Jun 2006 | Status: Trader | 1,050 Posts
Thanks. The news spike was just what I needed to end a great week. 
Spreads are low enough that hedging wouldn't appear to be that big of a deal. If you still like your eur/jpy short I would hedge that one and set a SL on usd/jpy just in case there is some large spiking (which is doubtful). Would you be willing to close USD/JPY with the current profit?
As for Japanese news, it doesn't cause much movement most of the time. Although some events are getting a little more volatile.
If I were holding your positions I would let USD/JPY run and hedge EUR/JPY.
Good trading.
Nice USD/JPY short.
- #192
- Mar 1, 2007 7:45pm Mar 1, 2007 7:45pm
Seems it's likely that this pair is targeting 1.5170 level medium term. There is a cluster of some technical points at this price.
Show me the PIPS!
- #193
- Mar 1, 2007 10:24pm Mar 1, 2007 10:24pm
- | Membership Revoked | Joined Dec 2006 | 2,771 Posts
Igrok, do you have any charts or technical points to share with your predictions? Thanks in advance.
1. There is a rising channel on weeklies. The support (lower border) must be drawn through the lows of the weeks ended on 03.03.2006 and 05.19.2006. The parallel line placed on top of the weeks ended on 12.16.2005 and 01.05.2007 represents the upper border of this channel. So, after bouncing off the upper border, the market should naturally target the opposite one, which comes this week at 151.30.
2. There is a huge unfilled gap on weekly charts at 151.74-83 that should also be covered in this particular move. Since the support of the channel is rising and in two weeks from now goes above the gap, then it would be resonable to assume that 151.70 area is going to be reached not later than a couple of weeks from now.
3. There is a combination of divergenses pointing to the levels below the current low of the year. The market rarely changes the main move of the year more than two times and this is already going to be the second time this year so far. Considering that the average yearly trading range is at least twice as big as the one the market formed by now, then it makes sense to project a good follow-through after the current low at 153.66 gets broken.
There are some additional reasons in favor of such a move, but those reasons are rather directional than specific about some certain trading levels.
- #195
- Mar 2, 2007 12:49am Mar 2, 2007 12:49am
Sorry, no charts. However you might easily make some drawing on your own. Here are the ideas:
1. There is a rising channel on weeklies. The support (lower border) must be drawn through the lows of the weeks ended on 03.03.2006 and 05.19.2006. The parallel line placed on top of the weeks ended on 12.16.2005 and 01.05.2007 represents the upper border of this channel. So, after bouncing off the upper border, the market should naturally target the opposite one, which comes this week at 151.30.
2. There is a huge unfilled gap on weekly charts at 151.74-83 that should also be covered in this particular move. Since the support of the channel is rising and in two weeks from now goes above the gap, then it would be resonable to assume that 151.70 area is going to be reached not later than a couple of weeks from now.
3. There is a combination of divergenses pointing to the levels below the current low of the year. The market rarely changes the main move of the year more than two times and this is already going to be the second time this year so far. Considering that the average yearly trading range is at least twice as big as the one the market formed by now, then it makes sense to project a good follow-through after the current low at 153.66 gets broken.
There are some additional reasons in favor of such a move, but those reasons are rather directional than specific about some certain trading levels.
Thanks for your analysis!Opened up my eyes to some things that I have not considered!
Show me the PIPS!
