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  • #51,501
  • Dec 18, 2008 1:12pm Dec 18, 2008 1:12pm
This is weird. I've actually been cleaning up on the UJ, the pair I said I'd never trade again any time soon. It reminds me of back when things more or less did what you expected them to do more or less when you thought they would. I have a suspicion the BOJ is my new secret best friend...

I ((among others)) have always called UJ the anti-currency. When the rest of the world made sense, UJ made no sense and does what it wants. When the rest of the world makes no sense, UJ makes sense and does what it wants. I can work with that.

Now I've been keeping my pips and trading is almost fun again. This could be a nice touchy feely way to close out the year...

Only thing is the UJ thread has slowly become one of the backwater stagnant ponds at the forex factory... bummer.
FUBAR...
  • #51,502
  • Dec 18, 2008 1:17pm Dec 18, 2008 1:17pm
Quoting ak4x

Now I've been keeping my pips and trading is almost fun again. This could be a nice touchy feely way to close out the year...

Only thing is the UJ thread has slowly become one of the backwater stagnant ponds at the forex factory... bummer.
Fantastic to hear of your success (btw; I agree with you on UJ). Too busy cleanin' up on EU to look at other currency pairs - sorry to hear about the lack of discourse on the UJ thread though, that sucks.

Seer
Pip what you see; See what you pip!
  • #51,503
  • Dec 18, 2008 1:20pm Dec 18, 2008 1:20pm
Quoting ak4x

Only thing is the UJ thread has slowly become one of the backwater stagnant ponds at the forex factory... bummer.
And the Euro/JPY
Probability Professor
  • #51,504
  • Dec 18, 2008 1:30pm Dec 18, 2008 1:30pm
Quoting Galation
And the Euro/JPY
It's been as erratic as eu lately, if not more so imo, as the yen crosses are all having identity issues, and then of course IBFX has finally beat me into submission with their silly spreads on that pair, and convinced me they don't want anybody trading it on their platform.

Add a +30 pip spread spike onto a 30-60 pip price spike and you can esily get up to a 100 pips of reach with only about half that showing on the charts... Bad business and I've already had my conversations with them about it, to no avail of course.

Had to say "so long" to my favorite pair TFN...

ADD: Oops, sorry I just realized you proably meant the thread, not the pair. Oh well, could be, but I never did go there much.
FUBAR...
  • #51,505
  • Dec 18, 2008 1:30pm Dec 18, 2008 1:30pm
Well in a landmark 24 hours, can we do more? Did we bottom out? Can we fall further? Or is it time to go long?
  • #51,506
  • Dec 18, 2008 1:53pm Dec 18, 2008 1:53pm
Quoting ak4x
It's been as erratic as eu lately, if not more so imo, as the yen crosses are all having identity issues, and then of course IBFX has finally beat me into submission with their silly spreads on that pair, and convinced me they don't want anybody trading it on their platform.

Add a +30 pip spread spike onto a 30-60 pip price spike and you can esily get up to a 100 pips of reach with only about half that showing on the charts... Bad business and I've already had my conversations with them about it, to no avail of course. ...
Sad to hear that.. what maybe the reason? liquidity? fear of intervation?
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #51,507
  • Dec 18, 2008 1:55pm Dec 18, 2008 1:55pm
Quoting ak4x
This is weird. I've actually been cleaning up on the UJ, the pair I said I'd never trade again any time soon. It reminds me of back when things more or less did what you expected them to do more or less when you thought they would. I have a suspicion the BOJ is my new secret best friend...

I ((among others)) have always called UJ the anti-currency. When the rest of the world made sense, UJ made no sense and does what it wants. When the rest of the world makes no sense, UJ makes sense and does what it wants. I can work with that.

Now I've been...
I trade UJ pretty heavily but was away today.If I had traded earlier I wouldve gone short at last nights high and wouldve gotten run over.Only made one trade shorting at 89.90.only to get out at 89.50.Youre right, the boj is on the prowl.

True. Theres not much discussion on yen pairs.
  • #51,508
  • Dec 18, 2008 1:57pm Dec 18, 2008 1:57pm
Quoting vulture
Sad to hear that.. what maybe the reason? liquidity? fear of intervation?
The official line is "increased volatility" and "that's what their non-dealing desk liquidity providers are sending them TFN". No other pair is affected like that one at the present.

You get to draw your own conclusions.
FUBAR...
  • #51,509
  • Dec 18, 2008 2:01pm Dec 18, 2008 2:01pm
Quoting trader2160
Youre right, the boj is on the prowl.
What really bites is so help me, I sat here and looked at the 5m and 15m charts as it was bottoming, and said to myself..."Self, buy some of that..."

Then I reminded myself it was the UJ, and said "nahhhh."

ak4x is an idiot.
FUBAR...
  • #51,510
  • Dec 18, 2008 2:08pm Dec 18, 2008 2:08pm
This is a pretty good post from yesterday morning from the market insights thread. It doesn't give the all answers yet cuz I'm still not sure we know what all the questions are, but does sort of consolidate all the main points of what's going on from a different perspective.

http://www.forexfactory.com/news.php?do=news&id=138304
FUBAR...
  • #51,511
  • Dec 18, 2008 2:15pm Dec 18, 2008 2:15pm
Quoting ak4x
It's been as erratic as eu lately, if not more so imo, as the yen crosses are all having identity issues, and then of course IBFX has finally beat me into submission with their silly spreads on that pair, and convinced me they don't want anybody trading it on their platform.

Add a +30 pip spread spike onto a 30-60 pip price spike and you can esily get up to a 100 pips of reach with only about half that showing on the charts... Bad business and I've already had my conversations with them about it, to no avail of course.

Had to say...
I know what you mean about the price movement on the Eur/Jpy. I like trading this pair. My broker, MBTrading, has a pretty decent spread on this pair. The E/J thread has also gone a bit dry on FF
Probability Professor
  • #51,512
  • Dec 18, 2008 2:16pm Dec 18, 2008 2:16pm
Quoting ak4x
What really bites is so help me, I sat here and looked at the 5m and 15m charts as it was bottoming, and said to myself..."Self, buy some of that..."

Then I reminded myself it was the UJ, and said "nahhhh."

ak4x is an idiot.
No dude youre not.Thats what we all instictively think.We are still a little bit in risk aversion mode.Plus we all saw the dive on tuesday.That stuff gets imprinted in your psyche.Thats why the big boys squeezed all the shorts today.Our first instinct prevented us from buying.
  • #51,513
  • Dec 18, 2008 2:23pm Dec 18, 2008 2:23pm
Quoting ak4x
The official line is "increased volatility" and "that's what their non-dealing desk liquidity providers are sending them TFN". No other pair is affected like that one at the present.

You get to draw your own conclusions.
Of course they wont tell the true.. i see there is no business for you atm.. are you suppose to be in vacation anyway?
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #51,514
  • Dec 18, 2008 2:24pm Dec 18, 2008 2:24pm
Methinks this evening or London could see some fierce yen related moves... If EJ goes down hard along with GY as has been the case recently, that could be a hard drag on EU, as was also the case for some weeks.

Watch your yoorow profits closely. GY/GU have been looking jittery this last couple hours and are at some critical S/R levels... =
FUBAR...
  • #51,515
  • Dec 18, 2008 2:27pm Dec 18, 2008 2:27pm
Quoting vulture
are you suppose to be in vacation anyway?
yeah, but it gets me out of shopping.
FUBAR...
  • #51,516
  • Dec 18, 2008 2:31pm Dec 18, 2008 2:31pm
This should be interesting... what will we be calling the 3rd shaded circle in a couple hours? Busted or failed??

Black Ma is the 200sma on 15m ((Mom is got a little downturn going on preceeding the break below the MA))
Attached Image
FUBAR...
  • #51,517
  • Dec 18, 2008 2:34pm Dec 18, 2008 2:34pm
Quoting ak4x
yeah, but it gets me out of shopping.
gotcha
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #51,518
  • Dec 18, 2008 2:38pm Dec 18, 2008 2:38pm
Anybody know why aussie just got its ass handed to it?
  • #51,519
  • Dec 18, 2008 2:59pm Dec 18, 2008 2:59pm
I was under the impression that if one knew how to read the charts correctly that the news & other such factors played no key in how the charts read. Is it just me, a newbie, that doesn't know how to read charts as well as she thought or did this EUR/USD pair just go freakin' crazy past couple days?
  • #51,520
  • Edited 3:31pm Dec 18, 2008 3:03pm | Edited 3:31pm
Quoting bluej114
I was under the impression that if one knew how to read the charts correctly that the news & other such factors played no key..
when the planet is reallocating assets faster than the news can report it, then that kind of thing matters. in fact it is the only thing that matters. you can chart it after the fact, but unless you're a fly on the wall of the big cheeses that decides when these things happen and for how long, then all you want to do is make sure you're not in front of the wrong bus.
FUBAR...
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