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Daily EUR/JPY analysis

  • #2,021
  • Feb 19, 2009 9:07am Feb 19, 2009 9:07am
hi guys, gals... hope you're trading well. Nice charts.
  • #2,022
  • Feb 19, 2009 9:41am Feb 19, 2009 9:41am
hello gabriel. Helluva ride today. How was your day mate? Hope it's all good!
Thank You
  • #2,023
  • Feb 19, 2009 11:05am Feb 19, 2009 11:05am
Quoting wormboy
hello gabriel. Helluva ride today. How was your day mate? Hope it's all good!
had a good night, thanks Azim. wish my day job didn't take me away from the markets so often lol. hope you're well bro and thanks for the charts... really helpful at seeing the longer TF trade setups
  • #2,024
  • Feb 19, 2009 11:23am Feb 19, 2009 11:23am
The Yen hasn't lost his safe-heaven status. Developments in stocks (DJ, SP - again today), Europe, crosses (especially in USD/YPJ) are calling for massive Yen buying. Sooner or later...
  • #2,025
  • Feb 19, 2009 11:28am Feb 19, 2009 11:28am
Glad to hear that mate. No problems regarding the chart, I just hope you can see what I see. ( and prolly understand why I am still bearish towards cable )
Cheers mate.
Thank You
  • #2,026
  • Feb 19, 2009 11:30am Feb 19, 2009 11:30am
Quoting wormboy
Glad to hear that mate. No problems regarding the chart, I just hope you can see what I see. ( and prolly understand why I am still bearish towards cable )
Cheers mate.
  • #2,027
  • Feb 19, 2009 11:45am Feb 19, 2009 11:45am
hello again guys. took a position.
short @119.28 sl @120.4
Two reasons why I took the position. The candle did not take out my sma on the 4hr (as posted earlier using my mt chart). And we do have a shooting star sitting pretty smack on top of the wedge. Could be a possible fake breakout earlier. I don't know. But I'm taking my chances with a possible small risk if it decided to go the other way. So we'll see how this pans out.
Happy trading guys.
Attached Image (click to enlarge)
Click to Enlarge Name: ey.JPG Size: 115 KB
Thank You
  • #2,028
  • Feb 19, 2009 12:02pm Feb 19, 2009 12:02pm
Quoting wormboy
scorpion : LOL, I completely forgot to post here, I was tied up with cable. Got my ass handed to me with that pair. Short @ 4247 yesterday & it's up the wrong way by almost 200 pips now. Haha.
Anyway, forget that. I long euro yen @ 117.60 & took my profit @ 120.00 as it is currently bouncing off my sma on my 4hr. That & my cci is currently severely overbought. It'll prolly go higherif it breaks the sma, but I'll take what's on the table first to breakeven between the trades. Wouldn't want to end the week with a -ve if you know what I mean.
Good...
Hi, can you please tell me with sma you use..this 3 sma`s you have togehter..
  • #2,029
  • Feb 19, 2009 12:05pm Feb 19, 2009 12:05pm
thanks wb... I see we might have a bit of range bouncing ahead of more direction... let's see how this plays out and thanks for posting .. good stuff.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_jpy_19_feb_09.png Size: 104 KB
  • #2,030
  • Feb 19, 2009 1:37pm Feb 19, 2009 1:37pm
scorpion : it's 60, 400 & envelope. I trade off larger tf. Wouldn't know how well it works with smaller tf. Maybe with a few tweaks it could yield good results.I didn't bother tho coz I don't like trading smaller tf. If you're interested in the setup, just drop me a pm & leave your email add.
Cheers.
Thank You
  • #2,031
  • Feb 19, 2009 2:04pm Feb 19, 2009 2:04pm
Shorted at 119.77 TP 119.00 Stop 120.40
  • #2,032
  • Feb 19, 2009 5:52pm Feb 19, 2009 5:52pm
I went short again.

Thats the trade for the night.
  • #2,033
  • Feb 19, 2009 5:56pm Feb 19, 2009 5:56pm
Quoting jchng4
Shorted at 119.77 TP 119.00 Stop 120.40
Time to get paid. Good call mate

I am still holding.
Thank You
  • #2,034
  • Feb 19, 2009 6:56pm Feb 19, 2009 6:56pm
Quoting wormboy
Time to get paid. Good call mate

I am still holding.

Thanks buddy, I have shorted again at 118.90 TP 118.50 Stop 119.30.

Good luck too buddy.. hope it falls as much as it went up last night
  • #2,035
  • Feb 19, 2009 10:54pm Feb 19, 2009 10:54pm
New Short at 118.57 ... TP 118.07 Stop 118.80
  • #2,036
  • Feb 20, 2009 4:17am Feb 20, 2009 4:17am
Quoting wormboy
hello again guys. took a position.
short @119.28 sl @120.4
Two reasons why I took the position. The candle did not take out my sma on the 4hr (as posted earlier using my mt chart). And we do have a shooting star sitting pretty smack on top of the wedge. Could be a possible fake breakout earlier. I don't know. But I'm taking my chances with a possible small risk if it decided to go the other way. So we'll see how this pans out.
Happy trading guys.
Welp, I'm out. News spike took my sl out @118.45
Looks like my supplementary pair has outperformed my cable trades for this week.
Let's see where it goes from here since we're back in that wedge again.
Good luck guys.
Thank You
  • #2,037
  • Feb 20, 2009 12:05pm Feb 20, 2009 12:05pm
It's happening...
  • #2,038
  • Feb 20, 2009 3:06pm Feb 20, 2009 3:06pm
Hi.
Took another small short position leaving it over the weekend @119.45, [email protected] & [email protected]

Again, 2 reasons why I took the trade. The first being the current candle being rejected at the sma ( identical scenario to what happened yesterday ).
The second being the possible double top formation. That and the cci is out from the overbought area. That usually gives space for a small pullback if there is even a possibilty of this pair going further up. Who knows, I could be wrong, but again like yesterday, it's worth a shot for a small risk.
Have a good weekend guys.
Attached Image
Thank You
  • #2,039
  • Feb 21, 2009 5:43am Feb 21, 2009 5:43am
how can you said bearish?..i've seen bearish may happen....but i do not think with high volume...i thought it'll bearish to 118...mostly depend on EURO news next week....
  • #2,040
  • Feb 21, 2009 6:39am Feb 21, 2009 6:39am
Price trading inside a 4hr/dayly bearish wedge. Price failed to close and maintain above the 2 weeks previous high of 120. If we get a LH right now i believe price will reverse and the bears will push it down to around 116 (wedges lower TL). Once and if we get there i favour a break out of the bearish wedge and she will tank strong. 109 is my final target once the bearish wedge gets comfirmed. Everything invalidates if she takes out the 2 week high of 120, and so the wedges UTL leaving me no conclusion only that it wasnt really a bearish wedge, and more of the ascending triangle. If 120 is taken out dont jump blindly into long positions as we have descending resistance (TL) around 121 Im a bear but a flexible one LOL

My 0.2 pips
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