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If you love the EUR/JPY and you know it... clap your hands!

  • #21
  • Apr 25, 2009 1:05pm Apr 25, 2009 1:05pm
eur daily and weekly
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  • #22
  • Apr 25, 2009 1:07pm Apr 25, 2009 1:07pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Daily trend UP
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  • #23
  • Apr 25, 2009 1:07pm Apr 25, 2009 1:07pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
4h trend DOWN
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  • #24
  • Apr 25, 2009 1:08pm Apr 25, 2009 1:08pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
1h trend turning up
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  • #25
  • Apr 25, 2009 1:09pm Apr 25, 2009 1:09pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
30min trend UP
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  • #26
  • Apr 25, 2009 1:09pm Apr 25, 2009 1:09pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
15min UP and compressing
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  • #27
  • Apr 25, 2009 1:23pm Apr 25, 2009 1:23pm
Hi Yuppie
How are you? fundamentals need to be traded with technical........fundies being impending Chrysler bankruptcy, May first week detailed bank stress test, NFP due Friday............ all could be negative for carry trade so expect a drop........ this week IMHO all was market manipulation .........with very low volume.........
I guess we can come to a consensus .....some times individual trader will not see things "outside the box" so hopefully deferring view can be very productive ......
Have nice weekend buddy



Quoting Yuppie
Level 3 looks so good... I lie awake at night thinking about that level...

I have absolutely no idea about fundamentals, so cannot comment there... and the monthly is way too high for me...


What's you charting software?


Magnus
BANDA333
  • #28
  • Apr 25, 2009 2:09pm Apr 25, 2009 2:09pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting BANDA
Hi Yuppie
How are you? fundamentals need to be traded with technical........fundies being impending Chrysler bankruptcy, May first week detailed bank stress test, NFP due Friday............ all could be negative for carry trade so expect a drop........ this week IMHO all was market manipulation .........with very low volume.........
I guess we can come to a consensus .....some times individual trader will not see things "outside the box" so hopefully deferring view can be very productive ......
Have nice weekend buddy

Cheers BANDA...

Yeah, I ignore all Fundamentals - pretty much.

Although, I generally keep clear of the first Friday of every month, that's about it.


Have a good one,

Magnus
  • #29
  • Apr 25, 2009 2:14pm Apr 25, 2009 2:14pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Yuppie
Cheers BANDA...

Yeah, I ignore all Fundamentals - pretty much.

Although, I generally keep clear of the first Friday of every month, that's about it.


Have a good one,

Magnus

A caveat being that I am somewhat open-minded about it.

If I start seeing Fundamental things that give some sort of consistent edge... I'll be all over it like a fat kid on a donut!!


Magnus
  • #30
  • Apr 25, 2009 5:47pm Apr 25, 2009 5:47pm
Quoting Jhig
I dont get it. Isn't it the same as Eur/Usd, Usd/Chf, Gbp/Usd, Aud/Usd, Nzd/Usd, Chf/Jpy, Nzd/Jpy ... etc?

I could never justify trading Eur/Jpy as it moves exactly like Eur/Usd. My broker offers Eur/Usd at (2-3pips spread) and Eur/Jpy at (4-5pip spread). So wouldn't it make sense to trade a pair that offers a lower spread and is which all other currencies follow?

I'm not trying to "knock" on someones pair preference. I'm just curious as to, why you guys picked Eur/Jpy over Usd?
ej moves a little farther and faster than euro, so the extra pip spread isnt that big of a deal. also, can be more volatile during asian session than eu
"i wake up in the morning, and i piss excellence"
  • #31
  • Apr 25, 2009 5:56pm Apr 25, 2009 5:56pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Hourly chart... each box is 24 hours... starting and ending at around 06:00GMT... Green area is above 06:00GMT price... Red area is below 06:00GMT price...
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  • #32
  • Apr 25, 2009 6:14pm Apr 25, 2009 6:14pm
I love Ms. EJ.

She's my favorite! Spread? What four pips out of 80, I'm not gonna miss it, I like to think of it as tipping the broker for their excellent service!

Even though I got plundered on wed and thur's ranging, I'm looking for a bullish open on sun nite, But still a little curious as to weather or not the daily H&S should be considered "broken" , or on the mend, and if further bearishness might be on the menu by mon or tue.

I think a few good down-days for the DOW could light that fuse.

I guess we'll all find out soon enough!
  • #33
  • Apr 25, 2009 6:22pm Apr 25, 2009 6:22pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Low
I love Ms. EJ.

She's my favorite! Spread? What four pips out of 80, I'm not gonna miss it, I like to think of it as tipping the broker for their excellent service!

Even though I got plundered on wed and thur's ranging, I'm looking for a bullish open on sun nite, But still a little curious as to weather or not the daily H&S should be considered "broken" , or on the mend, and if further bearishness might be on the menu by mon or tue.

I think a few good down-days for the DOW could light that fuse.

I guess we'll all find out soon enough!

Yes, E/J is indeed, a true beauty.


Two things, Low...

1) I'm not seeing a H&S - care to enlighten?

and

2) In a bid to continue my learning of E/J, could you perhaps elaborate on how you interperet the DOW correlating with E/J?



Magnus
  • #34
  • Apr 25, 2009 6:23pm Apr 25, 2009 6:23pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
.50 box
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  • #35
  • Apr 25, 2009 6:43pm Apr 25, 2009 6:43pm
chart posted wrong.

At work, try again later.
  • #36
  • Apr 25, 2009 6:43pm Apr 25, 2009 6:43pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Chart stolen from Ghous on the J16 thread... post can be found here
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  • #37
  • Apr 25, 2009 6:48pm Apr 25, 2009 6:48pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Low
chart posted wrong.

At work, try again later.


Is this the H&S you're referring to?
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Click to Enlarge Name: 2009-04-25_eurjpy_22.gif Size: 27 KB
  • #38
  • Apr 25, 2009 6:55pm Apr 25, 2009 6:55pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
250 pips away from this level.
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  • #39
  • Apr 25, 2009 7:32pm Apr 25, 2009 7:32pm
yep, that's the H&S. It gets even better if you draw a fib from the HH to the LL on the daily, starting about july 30th, 08.

I would love to see 50%, and then sell, sell, sell!
  • #40
  • Apr 25, 2009 7:43pm Apr 25, 2009 7:43pm
Quoting Jhig
I dont get it. Isn't it the same as Eur/Usd, Usd/Chf, Gbp/Usd, Aud/Usd, Nzd/Usd, Chf/Jpy, Nzd/Jpy ... etc?
There a number of good reasons.
E/J behaves very well technically. It respects technical levels like fibs and pivots so it is predictable. Check out this price action which is typical http://www.forexfactory.com/showthread.php?t=82406 I get a fixed 3 pip spread on E/J and a 2 pip spread on E/U, a 3 pip spread on E/J is far superior odds than a 2 pip spread on E/U because the trading range is at least twice as big. For every 10 pips you get on E/U you will get at least 20 on E/J so thats a big difference in expectancy. Have look at this pay out, http://www.forexfactory.com/showpost...postcount=1647 There is a strong relationship between E/J and the equities market, it is like a barometer for risk appetite and so market sentiment which is thoroughly reported in the news, is relevant and tradable on this pair. It does not move exactly like EUR/USD and it is often possible to take different direction on each pair and profit from both
I had a profitable relationship with this pair, but I left her for the less volatile EUR/USD, I would describe her as poetry in motion
Try her, she is exciting, you will understand why these guys are clapping there hands
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