If you love the EUR/JPY and you know it... clap your hands! | Page 22 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

Your own HOLY Grail (and how you know you've found it) 19 replies

Trade What You Know and Know What You Trade 4 replies

Know Yourself, Know Your Setup, by Boris Schlossberg 9 replies

dont fall in love with your daily return 11 replies

Im in love with eur/jpy! 0 replies

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

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

  • #421
  • May 5, 2009 8:47am May 5, 2009 8:47am
Quoting karun
The price seems to be pretty much consolidating between 132.2x(support) and 132.7x(Resistance?), when it breaks which way will it break . Meanwhile, any body trading within this area?

Edit:- The only reason it went to 131.75 once seems to obvious SL hunting, the PA did not look back that level after that.

I've been trading in this area, focusing on shorts. It's been fairly easy pickings.

JC
  • #422
  • May 5, 2009 8:51am May 5, 2009 8:51am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Kept stepping up TFs until I found some structure.

The hourly shows something.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-05_eurjpy_24.gif Size: 26 KB
  • #423
  • May 5, 2009 8:57am May 5, 2009 8:57am
Quoting Yuppie
Yeah, long above 132.20 at around 09:30GMT.

132.80 level is holding price back.

Watching to see if any "pressure" builds up behind it.
Hi Magnus

Do you mind sharing you pretty blue pressure indicator? If it's a freebee that is. No problem if it's not.

Thanks

JC
  • #424
  • May 5, 2009 9:02am May 5, 2009 9:02am
Quoting Yuppie
Mornin' JC.

Two highlighted areas are quite 'messy'.

Not sure what to make of them. Or if I should make anything of them at all.

The second highlighted area: two significant rejections off the .20 level - why is it so significant??


Magnus
I noticed the same thing on the 5m charts yesterday and the day before. I can only boil it down to uncertainty. I also recon it's about the big boys keeping this within their range. i.e. If they are planning for this to go higher and they're trying to accumulate at lower range, why would they let it go above high. This would only develop momentum they could not control for their accumulation purposes. I recon these messy points are within those "battle" areas. Crude explanation of my conspiracy theory.

JC
  • #425
  • May 5, 2009 9:34am May 5, 2009 9:34am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Waka
Hi Magnus

Do you mind sharing you pretty blue pressure indicator? If it's a freebee that is. No problem if it's not.

Thanks

JC

It's a 5-tick (or whatever TF I am looking at) price chart with a bunch of MAs - nothing fancy.

I see that kind of pattern repeated quite often.


Magnus
  • #426
  • May 5, 2009 9:37am May 5, 2009 9:37am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Waka
I noticed the same thing on the 5m charts yesterday and the day before. I can only boil it down to uncertainty. I also recon it's about the big boys keeping this within their range. i.e. If they are planning for this to go higher and they're trying to accumulate at lower range, why would they let it go above high. This would only develop momentum they could not control for their accumulation purposes. I recon these messy points are within those "battle" areas. Crude explanation of my conspiracy theory.

JC

I'm never sure how to interperet when/if the Big Boys are playing.

I'm mostly thinking that price is doing what it does - there are so many different people looking at different things.

Especially in Forex.


How much to the Big Boys "decide" where they want price to go?


Magnus
  • #427
  • May 5, 2009 10:27am May 5, 2009 10:27am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
The significance of the .20 has weakened.

.15 is now the stronger level here.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-05_eurjpy_27.gif Size: 23 KB
  • #428
  • May 5, 2009 10:39am May 5, 2009 10:39am
hey
which side do you expect it to burst after this consolidation?
  • #429
  • May 5, 2009 10:44am May 5, 2009 10:44am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting shmandi
hey
which side do you expect it to burst after this consolidation?

The side I'll be looking to take a position on after it bursts...


Magnus
  • #430
  • May 5, 2009 11:02am May 5, 2009 11:02am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-05_eurjpy_28.gif Size: 20 KB
  • #431
  • May 5, 2009 11:13am May 5, 2009 11:13am
Quoting Yuppie
I'm never sure how to interperet when/if the Big Boys are playing.

I'm mostly thinking that price is doing what it does - there are so many different people looking at different things.

Especially in Forex.


How much to the Big Boys "decide" where they want price to go?


Magnus
Hi

I'm not sure to answer truthfully, nor do I think it makes a real difference. When we look at PPZ/S/R we are effectively gagging group dynamics/behaviours, with the large players being a key influence to the group. Without knowing the real dynamics we are still making an educated/experienced view on what the group is doing.

It's probably just the low volume due to Japan being on holiday.

JC
  • #432
  • May 5, 2009 11:26am May 5, 2009 11:26am
I think the game may be on pause until Japanese banks open on Thur.

Something tells me the straddle orders are building up.
  • #433
  • May 5, 2009 11:33am May 5, 2009 11:33am
Quoting Yuppie
The side I'll be looking to take a position on after it bursts...


Magnus

yeah. you're right. need to trade direction of price, not expected direction.
  • #434
  • May 5, 2009 11:39am May 5, 2009 11:39am
The 1hr bar is looking for another leg up in the current 8x 4hr bar wedge and from the .85 intraday support. If down, this too is significant in the short term, with clear air till .34.

Scalp opp. either way.

Sorry, do have graphs so trying to explain what I see.

JC
  • #435
  • May 5, 2009 11:40am May 5, 2009 11:40am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting shmandi
yeah. you're right. need to trade direction of price, not expected direction.

Bingo!... you're now well over half-way there...


Magnus
  • #436
  • May 5, 2009 11:40am May 5, 2009 11:40am
Quoting Low
I think the game may be on pause until Japanese banks open on Thur.

Something tells me the straddle orders are building up.
Sounds good! Will be easier to notice the pop.

JC
  • #437
  • May 5, 2009 11:45am May 5, 2009 11:45am
Quoting Yuppie
The side I'll be looking to take a position on after it bursts...


Magnus
Hi

How do you plan entering? The first swing trade after the pop?

JC
  • #438
  • May 5, 2009 11:45am May 5, 2009 11:45am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Pop!
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-05_eurjpy_29.gif Size: 20 KB
  • #439
  • May 5, 2009 11:49am May 5, 2009 11:49am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Waka
Hi

How do you plan entering? The first swing trade after the pop?

JC

Well, it's hard to say.

However, I usually find that one of the few, various setups I wait for occurs at some point near/during/after a breakout.

I don't really trade a breakout as a breakout as it were.


Magnus
  • #440
  • May 5, 2009 11:53am May 5, 2009 11:53am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Right, this thread is starting to momentum-ise (technical term!).

I'm going to really tone down my posting - you get/got the idea.

Hopefully the thread can have more flow now without my cluster-bomb posts.

Let's make this thread the EUR/JPY Oracle...


I'll probably start a thread in the journal section for my own nonsense. But this thead will be for the more "constructive" thoughts I may have


Magnus
0 traders viewing now